Emerging markets are the transition economies such as Brazil, Russia, India,
Mexico, Nigeria, and Turkey that are characterized by high levels of growth despite insufficient infrastructure.

Competitiveness

There would be many reasons for MNCs to expand into foreign markets as a way of growth. There is a close link between competitiveness and intentions of these firms to globalize their operations. The basic contributions of global business operations to a firm’s competitiveness are; cost reduction, spread of risk across wider environments, capitalization of core competencies, gaining access to new customers, and valuable natural resources.

In the globalizing world, the business endeavor necessitates to consider many diverse factors. For example, cultures and life styles differ remarkably among countries. Other factors could be listed as follows:

• There are differences in market demographics and income levels.
• There are variations in research, manufacturing and distributing costs.
• Exchange rates are fluctuating.
• There are differences in host government, economic and political demands.

A rising GDP indicates that businesses are doing well.

The management structure in traditional terms involves three basic layers: Top/executive, middle, and first line/supervisory levels (Figure 3.3). At the base of the pyramid non-managerial or non-supervisory employees reside. These three management levels are interconnected although each management level has a different set of functions and requires different managerial qualifications. The correct answer is A.

Decisional roles are related to the decision making behaviors of management teams.

Monitoring roles channel information about the environmental developments, opportunities, or risks. Accumulation of such information is vital to connection of the organization to the external environment.

Informational Roles: This group of roles directs a constant flow of information throughout the internal organization as well as transmitting information to and from the external environment.

The disseminator role is about sharing updated information with relevant individuals, groups, or divisions.

The spokesperson role requires managers to reachout to the external parties for providing information about the recent developments, changes, or policies regarding their operations.

Competitive Strategies in Foreign Markets

Companies decide for going international as well as which strategies to follow based on the resources they can allocate for international operations. Following strategy options are frequently used to compete in foreign markets;

• Exporting
• Licensing
• Franchising
• Global Strategy

the advantages of internal recruiting sources;

• Morale of promotion • Better assessment of abilities • Lower costs for some jobs • Motivator for good performance • Causes a succession of promotio

Regional businesses would serve a larger geographical area like Southern Turkey or the Black Sea region. However, they do not extend their businesses to the whole country. Successful local businesses may want to expand to larger regional areas but still stay within their capabilities as business conditions may not be all that different from each other. So (II) is not correct. (I) and (III) are correct.

Businesses use natural resources such as land, oil, minerals, water, and trees. Physical resources include raw materials used by businesses such as equipment, machines, offices, factories, and computers.

A monopoly exists when a supplier of goods or services has control of all (or nearly all) of its market. Here, only one supplier dominates the market such that others are not able to compete. Therefore, the firm has considerable control over prices.

Human resource management (HRM) consists of all the activities involved in acquiring, maintaining, and developing an organization’s human resources. The correct answer is D.

Management process consists of planning, controlling, organizing, leading.

Many environmental factors and developments in business like global competition, workforce diversity, downsizing, reengineering, and outsourcing influence human resource management functions in all industries.

Job analysis is the systematic process of determining the skills, duties, and knowledge required for performing specific jobs in an organization.

Te government in a planned economy exerts a significant role in determining most or all of
the decisions regarding production and allocation of goods and services such as which products to
produce, how and how much. Te centralized government would also control most or all of
the factors of production. Examples of planned economic systems are communism and socialism.

According to the American Marketing Association, the marketing function involves activities to create, communicate, deliver and exchange offerings that have value for customers. This function provides customer service and customer support including advertising to potential customers.

Conceptual skills are related to seeing the organization as a whole to reach, coordinate, and integrate resources to attain established goals throughout the organization. These goal-oriented skills are especially critical for monitoring as well as analyzing the organizational environment and developing aligned strategies which directly impact the activities of various divisions or functions of an organization.