C K Prahalad and Associates Introduced the Concept of a Global

question 19

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 consumers, 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:

Priority Debtors

Creditors that are given precedence over other creditors for repayment in the event of a debtor's bankruptcy or liquidation.

Repayment Plan

A strategy agreed upon between a creditor and a debtor to pay back an outstanding debt within a specified timeline.

Legal Entities

A legal entity is an individual, company, or organization that has legal rights and obligations.

Chapter 11 Reorganizations

A form of bankruptcy that involves the reorganization of a debtor's business affairs and assets, typically allowing companies to continue operations while repaying creditors.