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Firms cannot isolate themselves from or ignore external factors such as economic trends, competitive situations, or technology innovation in other countries if some of their competitors are competing or are located in other countries.
With the world becoming a global village firms are faced with competition from foreign companies who have operations across geographies, in their local markets. At the same time, firms are no longer catering only to the customers in their local markets. They are increasingly catering to customers from various markets and geographies. These changes in business environment made globalisation of operations a must for firms to sustain their competitive advantage...
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