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smu solved assignments of mb0053 Q1. “The world economy is globalizing at an accelerating pace”. Discuss this statement and list the benefits of globalization.

Answer: Globalization is a process where businesses are dealt in markets around the world, apart from the local and national markets. According to business terminologies, globalization is defined as ‘the worldwide trend of businesses expanding beyond their domestic boundaries’. It is advantageous for the economy of countries because it promotes prosperity in the countries that embrace globalization.

Benefits of globalization

The merits and demerits of globalization are highly debatable. While globalization creates employment

smu assignments answer of mb0051 Q1. “Discharge refers to the termination of contractual relationship between the parties”. Explain the statement along with different modes of discharging a contract.

Discharge refers to the termination of contractual relationship between the parties. The contract ceases to operate, i.e., when the rights and obligations under the contract ends.

According to Sections 73-75 of the Contracts Act, a contract may be discharged in several modes.

1 Performance or tender
The obvious mode of discharge of a contract is by performance, where the parties have done whatever was contemplated under the contract. Thus, where A contracts to sell his/her car to B

Answer of SMU assignments for MB0052 Q1. What is strategy? Explain some of the major reasons for lack of strategic management in some companies?

Answer: Meaning of strategy: The word ‘strategy’ comes from Greek strategies, which refers to a military general and combines stratus (the army) and ago (to lead). The concept and practice of strategy and planning started in the military, and, over time, it entered business and management. The key or common objective of both business strategy and military strategy is the same, i.e., to secure competitive advantage over the rivals or opponents.
A well-formulated strategy is vital for growth and development of any organization—whether it is
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