C K Prahalad and Associates Introduced the Concept of a Global

question 95

Multiple Choice

C. K. Prahalad and associates introduced the concept of a global market, not necessarily defined by national borders but rather by the pockets of poverty across countries and consisting of 4 billion people across the globe with annual incomes of less than $1,200. They refer to these regions, concentrated in the LDCs and LLDCs, as ________ markets.

• A) subsistence
• B) third-world
• C) underdeveloped
• D) bottom-of-the-pyramid
• E) peripheral

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Definitions:

Facebook

A social networking site that allows users to create personal profiles, share media, and communicate with friends and family.

Behaviorism

A school of thought in psychology that focuses solely on observable behaviors and discounts the importance of mental states or inner experiences.

Well-ordered Machines

A metaphor for systems or organizations that operate efficiently and effectively, with all components working harmoniously.

Watson

John B. Watson, an American psychologist who established the psychological school of behaviorism.