What is the difference between local policy and group policy?

Local Policy - Is the Policy implemented in a specific region (Influenced by local laws / cultures / geography etc.) Group Policy - Is the policy applied to the group as a whole (i.e.
a Multi-national trading across numerous countries.) In general the group tries to implement a standard policy across all regions, however there may be some local issues which prevent this form being fully implemented and hence the need for local policy.

Local Policy - It is implemented for a specific system individually.
Group Policy - It is implemented for users or clients those are connected to the servers.