The characteristics of a flat world, the challenges they pose, and the waysmanagers can prepare themselves to manage in a flat world. Introduction: The flat world is about the market, where the competitors meet and have competitions is levelling. It means every business, small and big, every entrepreneur and established companies are becoming an element of a large global supply chain. Here, competition is everywhere, and everyone has an equal opportunity.

Question

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Answer 1

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 2, Problem 1DQ

Summary Introduction

To discuss:

The characteristics of a flat world, the challenges they pose, and the waysmanagers can prepare themselves to manage in a flat world.

Introduction:

The flat world is about the market, where the competitors meet and have competitions is levelling. It means every business, small and big, every entrepreneur and established companies are becoming an element of a large global supply chain. Here, competition is everywhere, and everyone has an equal opportunity.

Expert Solution & Answer

Answer to Problem 1DQ

The main characteristic of a Flat World is globalization. The companies or competitors are now globally connected despite the geographical distance. Outsourcing, off-shoring, in-sourcing and supply chaining are some characteristics of a flat world.

The main challenges a flat world poses are the economic growth, population growth and the rising in standards of living which can challenge the world collaboration for businesses.

Explanation of Solution

Given information:

Flat world is a term used to describe the market as a playing field where all competitors have an equal opportunity and hence the market has leveled.

Here, geographical barriers are going to become far less important. As a result of outsourcing and offshoring, it is easy for the company to get cheap labour and hence remain competitive in the market. The flat world has led economies of countries like India and China to prosper due reasons such as availability of resources, labour and technology.

It is important that we understand, that the use of globalization in the right way can lead to the survival and success of the organisation. The manager needs to stay on his toes consistently looking for changes in the environment. He needs to anticipate future outcomes and lead the team effectively. The manager has to look out for Growing economies, new trends, possible investments and opportunities. This is a world where a merchant can stay at home and be rich just by trading goods on eBay. Therefore, there is chance for the organisation to fail and succeed at the same time, and the managers need to focus on succeeding.

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Answer 2

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 2, Problem 1DQ

Summary Introduction

To discuss:

The characteristics of a flat world, the challenges they pose, and the waysmanagers can prepare themselves to manage in a flat world.

Introduction:

The flat world is about the market, where the competitors meet and have competitions is levelling. It means every business, small and big, every entrepreneur and established companies are becoming an element of a large global supply chain. Here, competition is everywhere, and everyone has an equal opportunity.

Expert Solution & Answer

Answer to Problem 1DQ

The main characteristic of a Flat World is globalization. The companies or competitors are now globally connected despite the geographical distance. Outsourcing, off-shoring, in-sourcing and supply chaining are some characteristics of a flat world.

The main challenges a flat world poses are the economic growth, population growth and the rising in standards of living which can challenge the world collaboration for businesses.

Explanation of Solution

Given information:

Flat world is a term used to describe the market as a playing field where all competitors have an equal opportunity and hence the market has leveled.

Here, geographical barriers are going to become far less important. As a result of outsourcing and offshoring, it is easy for the company to get cheap labour and hence remain competitive in the market. The flat world has led economies of countries like India and China to prosper due reasons such as availability of resources, labour and technology.

It is important that we understand, that the use of globalization in the right way can lead to the survival and success of the organisation. The manager needs to stay on his toes consistently looking for changes in the environment. He needs to anticipate future outcomes and lead the team effectively. The manager has to look out for Growing economies, new trends, possible investments and opportunities. This is a world where a merchant can stay at home and be rich just by trading goods on eBay. Therefore, there is chance for the organisation to fail and succeed at the same time, and the managers need to focus on succeeding.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 2, Problem 1DQ

Summary Introduction

To discuss:

The characteristics of a flat world, the challenges they pose, and the waysmanagers can prepare themselves to manage in a flat world.

Introduction:

The flat world is about the market, where the competitors meet and have competitions is levelling. It means every business, small and big, every entrepreneur and established companies are becoming an element of a large global supply chain. Here, competition is everywhere, and everyone has an equal opportunity.

Expert Solution & Answer

Answer to Problem 1DQ

The main characteristic of a Flat World is globalization. The companies or competitors are now globally connected despite the geographical distance. Outsourcing, off-shoring, in-sourcing and supply chaining are some characteristics of a flat world.

The main challenges a flat world poses are the economic growth, population growth and the rising in standards of living which can challenge the world collaboration for businesses.

Explanation of Solution

Given information:

Flat world is a term used to describe the market as a playing field where all competitors have an equal opportunity and hence the market has leveled.

Here, geographical barriers are going to become far less important. As a result of outsourcing and offshoring, it is easy for the company to get cheap labour and hence remain competitive in the market. The flat world has led economies of countries like India and China to prosper due reasons such as availability of resources, labour and technology.

It is important that we understand, that the use of globalization in the right way can lead to the survival and success of the organisation. The manager needs to stay on his toes consistently looking for changes in the environment. He needs to anticipate future outcomes and lead the team effectively. The manager has to look out for Growing economies, new trends, possible investments and opportunities. This is a world where a merchant can stay at home and be rich just by trading goods on eBay. Therefore, there is chance for the organisation to fail and succeed at the same time, and the managers need to focus on succeeding.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 2, Problem 1DQ

Summary Introduction

To discuss:

The characteristics of a flat world, the challenges they pose, and the waysmanagers can prepare themselves to manage in a flat world.

Introduction:

The flat world is about the market, where the competitors meet and have competitions is levelling. It means every business, small and big, every entrepreneur and established companies are becoming an element of a large global supply chain. Here, competition is everywhere, and everyone has an equal opportunity.

Expert Solution & Answer

Answer to Problem 1DQ

The main characteristic of a Flat World is globalization. The companies or competitors are now globally connected despite the geographical distance. Outsourcing, off-shoring, in-sourcing and supply chaining are some characteristics of a flat world.

The main challenges a flat world poses are the economic growth, population growth and the rising in standards of living which can challenge the world collaboration for businesses.

Explanation of Solution

Given information:

Flat world is a term used to describe the market as a playing field where all competitors have an equal opportunity and hence the market has leveled.

Here, geographical barriers are going to become far less important. As a result of outsourcing and offshoring, it is easy for the company to get cheap labour and hence remain competitive in the market. The flat world has led economies of countries like India and China to prosper due reasons such as availability of resources, labour and technology.

It is important that we understand, that the use of globalization in the right way can lead to the survival and success of the organisation. The manager needs to stay on his toes consistently looking for changes in the environment. He needs to anticipate future outcomes and lead the team effectively. The manager has to look out for Growing economies, new trends, possible investments and opportunities. This is a world where a merchant can stay at home and be rich just by trading goods on eBay. Therefore, there is chance for the organisation to fail and succeed at the same time, and the managers need to focus on succeeding.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 2, Problem 1DQ

Summary Introduction

To discuss:

The characteristics of a flat world, the challenges they pose, and the waysmanagers can prepare themselves to manage in a flat world.

Introduction:

The flat world is about the market, where the competitors meet and have competitions is levelling. It means every business, small and big, every entrepreneur and established companies are becoming an element of a large global supply chain. Here, competition is everywhere, and everyone has an equal opportunity.

Expert Solution & Answer

Answer to Problem 1DQ

The main characteristic of a Flat World is globalization. The companies or competitors are now globally connected despite the geographical distance. Outsourcing, off-shoring, in-sourcing and supply chaining are some characteristics of a flat world.

The main challenges a flat world poses are the economic growth, population growth and the rising in standards of living which can challenge the world collaboration for businesses.

Explanation of Solution

Given information:

Flat world is a term used to describe the market as a playing field where all competitors have an equal opportunity and hence the market has leveled.

Here, geographical barriers are going to become far less important. As a result of outsourcing and offshoring, it is easy for the company to get cheap labour and hence remain competitive in the market. The flat world has led economies of countries like India and China to prosper due reasons such as availability of resources, labour and technology.

It is important that we understand, that the use of globalization in the right way can lead to the survival and success of the organisation. The manager needs to stay on his toes consistently looking for changes in the environment. He needs to anticipate future outcomes and lead the team effectively. The manager has to look out for Growing economies, new trends, possible investments and opportunities. This is a world where a merchant can stay at home and be rich just by trading goods on eBay. Therefore, there is chance for the organisation to fail and succeed at the same time, and the managers need to focus on succeeding.

Answer 6

Chapter 2, Problem 1DQ

Summary Introduction

To discuss:

The characteristics of a flat world, the challenges they pose, and the waysmanagers can prepare themselves to manage in a flat world.

Introduction:

The flat world is about the market, where the competitors meet and have competitions is levelling. It means every business, small and big, every entrepreneur and established companies are becoming an element of a large global supply chain. Here, competition is everywhere, and everyone has an equal opportunity.

Expert Solution & Answer

Answer to Problem 1DQ

The main characteristic of a Flat World is globalization. The companies or competitors are now globally connected despite the geographical distance. Outsourcing, off-shoring, in-sourcing and supply chaining are some characteristics of a flat world.

The main challenges a flat world poses are the economic growth, population growth and the rising in standards of living which can challenge the world collaboration for businesses.

Explanation of Solution

Given information:

Flat world is a term used to describe the market as a playing field where all competitors have an equal opportunity and hence the market has leveled.

Here, geographical barriers are going to become far less important. As a result of outsourcing and offshoring, it is easy for the company to get cheap labour and hence remain competitive in the market. The flat world has led economies of countries like India and China to prosper due reasons such as availability of resources, labour and technology.

It is important that we understand, that the use of globalization in the right way can lead to the survival and success of the organisation. The manager needs to stay on his toes consistently looking for changes in the environment. He needs to anticipate future outcomes and lead the team effectively. The manager has to look out for Growing economies, new trends, possible investments and opportunities. This is a world where a merchant can stay at home and be rich just by trading goods on eBay. Therefore, there is chance for the organisation to fail and succeed at the same time, and the managers need to focus on succeeding.

Answer 7

Chapter 2, Problem 1DQ

Summary Introduction

To discuss:

The characteristics of a flat world, the challenges they pose, and the waysmanagers can prepare themselves to manage in a flat world.

Introduction:

The flat world is about the market, where the competitors meet and have competitions is levelling. It means every business, small and big, every entrepreneur and established companies are becoming an element of a large global supply chain. Here, competition is everywhere, and everyone has an equal opportunity.

Answer 8

Expert Solution & Answer

Answer to Problem 1DQ

The main characteristic of a Flat World is globalization. The companies or competitors are now globally connected despite the geographical distance. Outsourcing, off-shoring, in-sourcing and supply chaining are some characteristics of a flat world.

The main challenges a flat world poses are the economic growth, population growth and the rising in standards of living which can challenge the world collaboration for businesses.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Given information:

Flat world is a term used to describe the market as a playing field where all competitors have an equal opportunity and hence the market has leveled.

Here, geographical barriers are going to become far less important. As a result of outsourcing and offshoring, it is easy for the company to get cheap labour and hence remain competitive in the market. The flat world has led economies of countries like India and China to prosper due reasons such as availability of resources, labour and technology.

It is important that we understand, that the use of globalization in the right way can lead to the survival and success of the organisation. The manager needs to stay on his toes consistently looking for changes in the environment. He needs to anticipate future outcomes and lead the team effectively. The manager has to look out for Growing economies, new trends, possible investments and opportunities. This is a world where a merchant can stay at home and be rich just by trading goods on eBay. Therefore, there is chance for the organisation to fail and succeed at the same time, and the managers need to focus on succeeding.

Answer 12

Ch. 2 - Prob. 1DQ Ch. 2 - Prob. 2DQ Ch. 2 - Prob. 3DQ Ch. 2 - Prob. 4DQ Ch. 2 - Prob. 5DQ Ch. 2 - Prob. 6DQ Ch. 2 - Prob. 7DQ Ch. 2 - Prob. 8DQ Ch. 2 - Prob. 9DQ Ch. 2 - Prob. 10DQ

Concept explainers

Answer to Problem 1DQ

Explanation of Solution

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Chapter 2 Solutions