Abstract
The signing of the UN Global Compact is one in a series of events underscoring the rising importance of corporate citizenship. The drivers of change— intense competition, new technologies, globalisation, a concern for ethics and values, ecological issues and the changing role of government—will continue to prod companies and managers to reinvent their businesses and their vision of citizenship. To achieve global competitiveness, many firms strive to integrate global business strategies and local civic activities. International business research has shown that the introduction of a global brand in a developing country with a promising consumer market is not likely to succeed against domestic competitors unless the global company establishes its credibility as a local company. The success of McDonald's and Coca-Cola in integrating global brand identity with local market presence underscores the power of the 'glocal' concept. In global corporations the overarching strategic vision is to position the company as a 'domestic firm' in country where it conducts business.
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