BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A global economy is one in which goods, services, people, skills, and ideas move freely across geographic borders. Globalization is the increasing economic interdependence among countries and their organizations as reflected in the flow of goods and services, financial and knowledge across country borders.

Detailed explanation-2: -Grant(2001) classifies internal resources into financial resources, physical resources, human resources, technological resources, reputation and organizational resources.

Detailed explanation-3: -Five main growth strategies commonly utilized by most businesses are market penetration, market development, product expansion, acquisition and diversification.

Detailed explanation-4: -An industry standard model is a set of “universal” operational process methods or tools that are applicable in most companies within a specific industry. It identifies the core dimensions, materials and methodologies those companies may use and supports business practices.