Glocalization is the adaptation of international products around the particularities of a local culture in which they are sold. The term first appeared in a late 1980s publication of the Harvard Business Review. The introduction of glocalization or the term "glocal strategy" may be seen as a ＿＿（16）＿＿ to improve the present usage of the term global strategy. Apparently, in most areas of the world it is not suitable to apply a genuine or true global strategy, since local adaptations of the business activities usually have to be ＿＿（17）＿＿ in the marketplace. The glocal strategy approach reflects the aspirations of a global strategy approach, while the necessity for local adaptations of business activities is ＿＿（18）＿＿ acknowledged. The "glocal strategy" concept comprises local, international, multinational, and global strategy approaches. It differs from the global strategy approach, since it explicitly ＿＿（19）＿＿ the importance of local adaptations and tailoring in the marketplace of business activities. In addition, it comprises typically international and multinational strategy issues. In short, it is a matter of thinking globally, but acting locally, i.e., thinking and acting "glocally." The glocal strategy approach also sees the need for a balance and harmony between the standardization versus the adaptation, and the homogenization versus the tailoring, of business activities. Glocalization of a company's business activities explicitly comprises the spectrum from local strategy issues to global strategy issues. The harmony and balance is then achieved when the standardization versus the adaptation as well as the homogenization versus the tailoring of the business activities are ＿＿（20）＿＿ . Accordingly, such balance and harmony is crucial in a company's glocal strategy approach and its glocalization of business activities.