Question

As industries become global in scope, competitors and potential future competitors exist not only in a company's home market but also in other national markets. This is one motive for companies to _________.

Answer 1

Answer:

Globalize

Explanation:

Globalization in simple terms refers to integration of domestic economy with the world economy. It lays emphasis upon removing trade barriers and making the world one big market.

The concept of Globalization gave rise to the emergence of multi national corporations operating multiple businesses in different countries.

As companies go global, the intensity of competition increases as it's no longer restricted within domestic boundaries.  Such international competition induces companies to come up with new innovations and methods so as to survive globally. This enhances the efficiency.

Thus, this serves as one of the motives for the companies to Globalize.