English Language · English
Developing countries are becoming hotbeds of business innovation in much the same way as Japan did from the 1950s onwards. They are reinventing systems of production and distribution, and experimenting with entirely new business models. Driven by a mixture of ambition and fear, these emerging-market champions are relentlessly climbing up the value chain and going global. Which option best captures the essence of the passage?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Developing countries are being forced to invent new business models which challenge the old business models, so they can remain competitive domestically.
- 2Competition has driven emerging economies, once suppliers of cheap labour, to become innovators of business models that have enabled them to move up the value chain and go global.✓
- 3Innovations in production and distribution are helping emerging economies compete with countries to which they once supplied cheap labour.
- 4Production and distribution models are going through rapid innovations worldwide as developed countries are being challenged by their earlier suppliers from the developing world.
Correct answer
Competition has driven emerging economies, once suppliers of cheap labour, to become innovators of business models that have enabled them to move up the value chain and go global.
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