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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases are given in bold to help you locate them while answering some of the questions. Core competencies and focus are now the mantras of corporate strategists in Western economies. But while managers in the West have dismantled many conglomerates assembled in the 1960s and 1970s, the large, diversified business group remains the dominant form of enterprise throughout most emerging markets. Some groups operate as holding companies with full ownership in many enterprises, others are collections of publicly traded companies, but all have some degree of central control. As emerging markets open up to global competition, consultants and foreign investors are increasingly pressuring these groups to conform to Western practice by scaling back the scope of their business activities. The conglomer-, ate is the dinosaur of organizational design, they argue, too unwieldy and slow to compete in today’s fast-paced markets. Already a number of executives have decided to break up their groups in order to show that they are focusing on only a few core businesses. There are reasons to worry about this trend. Focus is good advice in New York or London, but something important gets lost in translation when that advice is given to groups in emerging markets. Western companies take for granted a range of institutions that support their business activities, but many of these institutions are absent in other regions of the world. Without effective securities regulation and venture capital firms, for example, focused companies may be unable to raise adequate financing; and without strong educational institutions, they will struggle to hire skilled employees. Communicating with customers is difficult when the local infrastructure is poor, and unpredictable government behavior can stymie any operation. Although a focused strategy may enable a company to perform a few activities well, companies in emerging markets must take responsibility for a wide range of functions in order to do business effectively. In the case of product markets, buyers and sellers usually suffer from a severe dearth of information for three reasons. First, the communications infrastructure in emerging markets is often underdeveloped. Even as wireless communication spreads throughout the West, vast stretches in countries such as China and India remain without telephones. Power shortages often render the modes of communication that do exist ineffective. The postal service is typically inefficient, slow, or unreliable; and the private sector rarely provides efficient courier services. High rates of illiteracy make it difficult for marketers to communicate effectively with customers. Second, even when information about products does get around, there are no mechanisms to corroborate the claims made by sellers. Independent consumer-information organizations are rare, and government watchdog agencies are of little use. The few analysts who rate products are generally less sophisticated than their counterparts in advanced economies. Third, consumers have no redress mechanisms if a product does not deliver on its promise. Law enforcement is often capricious and so slow that few who assign any value to time would resort to it. Unlike in advanced markets, there are few extrajudicial arbitration mechanisms to which one can appeal. As a result of this lack of information, companies in emerging markets face much higher costs in building credible brands than their counterparts in advanced economies. In turn, established brands wield tremendous power. A conglomerate with a reputation for quality products and services can use its group name to enter new businesses, even if those businesses are completely unrelated to its current lines. Groups also have an advantage when they do try to build up a brand because they can spread the cost of maintaining it across multiple lines of business. Such groups then have a greater incentive not to damage brand quality in any one business because they will pay the price in their other businesses as well.Which of the following sentence(s) is/are correct in the context of the given passage ? I. Consultants and foreign investors argue that the conglomerate is the dinosaur of organisational design too unvvieldly and slow to compete in today’s fast-paced markets. II. Core competencies and focus are now the mantras of corporate strategists in western economies. III. Due to lack of information required, companies in emerging markets face much higher costs in building credible brands in comparison to their counterparts in advanced economies.....

MCQ->Established brands can wield tremendous power in emerging markets because....

MCQ-> The passage given below is followed by a set of three questions. Choose the most appropriate answer to each question.Every civilized society lives and thrives on a silent but profound agreement as to what is to be accepted as the valid mould of experience. Civilization is a complex system of dams, dykes, and canals warding off, directing, and articulating the influx of the surrounding fluid element; a fertile fenland, elaborately drained and protected from the high tides of chaotic, unexercised, and inarticulate experience. In such a culture, stable and sure of itself within the frontiers of 'naturalized' experience, the arts wield their creative power not so much in width as in depth. They do not create new experience, but deepen and purify the old. Their works do not differ from one another like a new horizon from a new horizon, but like a madonna from a madonna.The periods of art which are most vigorous in creative passion seem to occur when the established pattern of experience loosens its rigidity without as yet losing its force. Such a period was the Renaissance, and Shakespeare its poetic consummation. Then it was as though the discipline of the old order gave depth to the excitement of the breaking away, the depth of job and tragedy, of incomparable conquests and irredeemable losses. Adventurers of experience set out as though in lifeboats to rescue and bring back to the shore treasures of knowing and feeling which the old order had left floating on the high seas. The works of the early Renaissance and the poetry of Shakespeare vibrate with the compassion for live experience in danger of dying from exposure and neglect. In this compassion was the creative genius of the age. Yet, it was a genius of courage, not of desperate audacity. For, however elusively, it still knew of harbours and anchors, of homes to which to return, and of barns in which to store the harvest. The exploring spirit of art was in the depths of its consciousness still aware of a scheme of things into which to fit its exploits and creations. But the more this scheme of things loses its stability, the more boundless and uncharted appears the ocean of potential exploration. In the blank confusion of infinite potentialities flotsam of significance gets attached to jetsam of experience; for everything is sea, everything is at sea - .... The sea is all about us; The sea is the land's edge also, the granite Into which it reaches, the beaches where it tosses Its hints of earlier and other creation ... - and Rilke tells a story in which, as in T.S. Eliot's poem, it is again the sea and the distance of 'other creation' that becomes the image of the poet's reality. A rowing boat sets out on a difficult passage. The oarsmen labour in exact rhythm. There is no sign yet of the destination. Suddenly a man, seemingly idle, breaks out into song. And if the labour of the oarsmen meaninglessly defeats the real resistance of the real waves, it is the idle single who magically conquers the despair of apparent aimlessness. While the people next to him try to come to grips with the element that is next to them, his voice seems to bind the boat to the farthest distance so that the farthest distance draws it towards itself. 'I don't know why and how,' is Rilke's conclusion, 'but suddenly I understood the situation of the poet, his place and function in this age. It does not matter if one denies him every place - except this one. There one must tolerate him.'In the passage, the expression “like a madonna from a madonna” alludes to
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