ENTREPRENEURSHIP

Detailed explanation-1: -These trends are market expansion, resource acquisition, and the emergence of China and India. The need for businesses to expand their markets is perhaps the most fundamental reason for the growth in world trade.

Detailed explanation-2: -From a microeconomics perspective, competition can be influenced by five basic factors: product features, the number of sellers, barriers to entry, information availability, and location.

Detailed explanation-3: -Global competition becomes a form of international competition in which the position of an enterprise in one country affects its competitive position in other countries. As a result, companies are competing among themselves for international leadership. As a result of such a struggle, the economy is globalizing.

Detailed explanation-4: -The Global Trends are: Empowering the Workforce: Increasing productivity in the digital workplace. Smarter Business: Innovating in the as-a-service economy. Digitalisation and Disruption: Competing in the Gigabit Society.