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Direction: Read the following passage and answer the following question:In terms of labour, for decades the relatively low cost and high quality of Japanese workers conferred considerable competitive advantage across numerous durable goods and consumer electronics industries (eg. Machinery, automobiles, televisions, radios). Then labour-based advantages shifted to South Korea, then to Malaysia, Mexico and other nations. Today, China appears to be capitalizing best on the basis of labour. Japanese firms still remain competitive in markets for such durable goods, electronics and other products, but the labour force is no longer sufficient for competitive advantage over manufacturers in other industrializing nations. Such shifting of labour-based advantage is clearly not limited to manufacturing industries. Today, a huge number of IT and service jobs are moving from Europe and North America to India, Singapore, and like countries with relatively well-educated, low-cost workforces possessing technical skills. However, as educational levels and technical skills continue to rise in other countries, India, Singapore, and like nations enjoying labour-based competitive advantage today are likely to find such advantage cannot be sustained through the emergence of new competitors.In terms of capital, for centuries the days of gold coins and later even paper money restricted financial flows. Subsequently, regional concentrations were formed where large banks, industries and markets coalesced. But today capital flows internationally at rapid speed. Globa commerce no longer requires regional interactions among business players. Regional capital concentrations in places such as New York, London and Tokyo still persist, of course, but the capital concentrated there is no longer sufficient for competitive advantage over other capitalists distributed worldwide. Only if an organization is able to combine, integrate and apply its resources (eg. Land, labour, capital, IT in an effective manner that is not readily imitable by competitors can such an organization enjoy competitive advantage sustainable overtime.In a knowledge-based theory of the firm, this idea is extended to view organizational knowledge as a resource with at least the same level of power and importance as the traditional economic inputs. An organization with superior knowledge can achieve a competitive advantage in markets that appreciate the application of such knowledge. Semiconductors, genetic engineering, pharmaceuticals, software, military warfare, and like knowledge-intensive competitive arenas provide both time-proven and current examples. Consider semiconductors (e.g. computer chips), which are made principally of sand and common metals. These ubiquitous and powerful electronic devices are designed within common office buildings, using commercially available tools, and fabricated within factories in many industrialized nations. Hence, the land is not the key competitive resource in the semiconductor industry.Q. The passage also mentions the trend of:a)Global financial flowb)Absence of competition in manufacturing industryc)Regionalisation of capitalistsd)Organizational incompatibilityCorrect answer is option 'A'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about Direction: Read the following passage and answer the following question:In terms of labour, for decades the relatively low cost and high quality of Japanese workers conferred considerable competitive advantage across numerous durable goods and consumer electronics industries (eg. Machinery, automobiles, televisions, radios). Then labour-based advantages shifted to South Korea, then to Malaysia, Mexico and other nations. Today, China appears to be capitalizing best on the basis of labour. Japanese firms still remain competitive in markets for such durable goods, electronics and other products, but the labour force is no longer sufficient for competitive advantage over manufacturers in other industrializing nations. Such shifting of labour-based advantage is clearly not limited to manufacturing industries. Today, a huge number of IT and service jobs are moving from Europe and North America to India, Singapore, and like countries with relatively well-educated, low-cost workforces possessing technical skills. However, as educational levels and technical skills continue to rise in other countries, India, Singapore, and like nations enjoying labour-based competitive advantage today are likely to find such advantage cannot be sustained through the emergence of new competitors.In terms of capital, for centuries the days of gold coins and later even paper money restricted financial flows. Subsequently, regional concentrations were formed where large banks, industries and markets coalesced. But today capital flows internationally at rapid speed. Globa commerce no longer requires regional interactions among business players. Regional capital concentrations in places such as New York, London and Tokyo still persist, of course, but the capital concentrated there is no longer sufficient for competitive advantage over other capitalists distributed worldwide. Only if an organization is able to combine, integrate and apply its resources (eg. Land, labour, capital, IT in an effective manner that is not readily imitable by competitors can such an organization enjoy competitive advantage sustainable overtime.In a knowledge-based theory of the firm, this idea is extended to view organizational knowledge as a resource with at least the same level of power and importance as the traditional economic inputs. An organization with superior knowledge can achieve a competitive advantage in markets that appreciate the application of such knowledge. Semiconductors, genetic engineering, pharmaceuticals, software, military warfare, and like knowledge-intensive competitive arenas provide both time-proven and current examples. Consider semiconductors (e.g. computer chips), which are made principally of sand and common metals. These ubiquitous and powerful electronic devices are designed within common office buildings, using commercially available tools, and fabricated within factories in many industrialized nations. Hence, the land is not the key competitive resource in the semiconductor industry.Q. The passage also mentions the trend of:a)Global financial flowb)Absence of competition in manufacturing industryc)Regionalisation of capitalistsd)Organizational incompatibilityCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following passage and answer the following question:In terms of labour, for decades the relatively low cost and high quality of Japanese workers conferred considerable competitive advantage across numerous durable goods and consumer electronics industries (eg. Machinery, automobiles, televisions, radios). Then labour-based advantages shifted to South Korea, then to Malaysia, Mexico and other nations. Today, China appears to be capitalizing best on the basis of labour. Japanese firms still remain competitive in markets for such durable goods, electronics and other products, but the labour force is no longer sufficient for competitive advantage over manufacturers in other industrializing nations. Such shifting of labour-based advantage is clearly not limited to manufacturing industries. Today, a huge number of IT and service jobs are moving from Europe and North America to India, Singapore, and like countries with relatively well-educated, low-cost workforces possessing technical skills. However, as educational levels and technical skills continue to rise in other countries, India, Singapore, and like nations enjoying labour-based competitive advantage today are likely to find such advantage cannot be sustained through the emergence of new competitors.In terms of capital, for centuries the days of gold coins and later even paper money restricted financial flows. Subsequently, regional concentrations were formed where large banks, industries and markets coalesced. But today capital flows internationally at rapid speed. Globa commerce no longer requires regional interactions among business players. Regional capital concentrations in places such as New York, London and Tokyo still persist, of course, but the capital concentrated there is no longer sufficient for competitive advantage over other capitalists distributed worldwide. Only if an organization is able to combine, integrate and apply its resources (eg. Land, labour, capital, IT in an effective manner that is not readily imitable by competitors can such an organization enjoy competitive advantage sustainable overtime.In a knowledge-based theory of the firm, this idea is extended to view organizational knowledge as a resource with at least the same level of power and importance as the traditional economic inputs. An organization with superior knowledge can achieve a competitive advantage in markets that appreciate the application of such knowledge. Semiconductors, genetic engineering, pharmaceuticals, software, military warfare, and like knowledge-intensive competitive arenas provide both time-proven and current examples. Consider semiconductors (e.g. computer chips), which are made principally of sand and common metals. These ubiquitous and powerful electronic devices are designed within common office buildings, using commercially available tools, and fabricated within factories in many industrialized nations. Hence, the land is not the key competitive resource in the semiconductor industry.Q. The passage also mentions the trend of:a)Global financial flowb)Absence of competition in manufacturing industryc)Regionalisation of capitalistsd)Organizational incompatibilityCorrect answer is option 'A'. Can you explain this answer?.

Solutions for Direction: Read the following passage and answer the following question:In terms of labour, for decades the relatively low cost and high quality of Japanese workers conferred considerable competitive advantage across numerous durable goods and consumer electronics industries (eg. Machinery, automobiles, televisions, radios). Then labour-based advantages shifted to South Korea, then to Malaysia, Mexico and other nations. Today, China appears to be capitalizing best on the basis of labour. Japanese firms still remain competitive in markets for such durable goods, electronics and other products, but the labour force is no longer sufficient for competitive advantage over manufacturers in other industrializing nations. Such shifting of labour-based advantage is clearly not limited to manufacturing industries. Today, a huge number of IT and service jobs are moving from Europe and North America to India, Singapore, and like countries with relatively well-educated, low-cost workforces possessing technical skills. However, as educational levels and technical skills continue to rise in other countries, India, Singapore, and like nations enjoying labour-based competitive advantage today are likely to find such advantage cannot be sustained through the emergence of new competitors.In terms of capital, for centuries the days of gold coins and later even paper money restricted financial flows. Subsequently, regional concentrations were formed where large banks, industries and markets coalesced. But today capital flows internationally at rapid speed. Globa commerce no longer requires regional interactions among business players. Regional capital concentrations in places such as New York, London and Tokyo still persist, of course, but the capital concentrated there is no longer sufficient for competitive advantage over other capitalists distributed worldwide. Only if an organization is able to combine, integrate and apply its resources (eg. Land, labour, capital, IT in an effective manner that is not readily imitable by competitors can such an organization enjoy competitive advantage sustainable overtime.In a knowledge-based theory of the firm, this idea is extended to view organizational knowledge as a resource with at least the same level of power and importance as the traditional economic inputs. An organization with superior knowledge can achieve a competitive advantage in markets that appreciate the application of such knowledge. Semiconductors, genetic engineering, pharmaceuticals, software, military warfare, and like knowledge-intensive competitive arenas provide both time-proven and current examples. Consider semiconductors (e.g. computer chips), which are made principally of sand and common metals. These ubiquitous and powerful electronic devices are designed within common office buildings, using commercially available tools, and fabricated within factories in many industrialized nations. Hence, the land is not the key competitive resource in the semiconductor industry.Q. The passage also mentions the trend of:a)Global financial flowb)Absence of competition in manufacturing industryc)Regionalisation of capitalistsd)Organizational incompatibilityCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.

Here you can find the meaning of Direction: Read the following passage and answer the following question:In terms of labour, for decades the relatively low cost and high quality of Japanese workers conferred considerable competitive advantage across numerous durable goods and consumer electronics industries (eg. Machinery, automobiles, televisions, radios). Then labour-based advantages shifted to South Korea, then to Malaysia, Mexico and other nations. Today, China appears to be capitalizing best on the basis of labour. Japanese firms still remain competitive in markets for such durable goods, electronics and other products, but the labour force is no longer sufficient for competitive advantage over manufacturers in other industrializing nations. Such shifting of labour-based advantage is clearly not limited to manufacturing industries. Today, a huge number of IT and service jobs are moving from Europe and North America to India, Singapore, and like countries with relatively well-educated, low-cost workforces possessing technical skills. However, as educational levels and technical skills continue to rise in other countries, India, Singapore, and like nations enjoying labour-based competitive advantage today are likely to find such advantage cannot be sustained through the emergence of new competitors.In terms of capital, for centuries the days of gold coins and later even paper money restricted financial flows. Subsequently, regional concentrations were formed where large banks, industries and markets coalesced. But today capital flows internationally at rapid speed. Globa commerce no longer requires regional interactions among business players. Regional capital concentrations in places such as New York, London and Tokyo still persist, of course, but the capital concentrated there is no longer sufficient for competitive advantage over other capitalists distributed worldwide. Only if an organization is able to combine, integrate and apply its resources (eg. Land, labour, capital, IT in an effective manner that is not readily imitable by competitors can such an organization enjoy competitive advantage sustainable overtime.In a knowledge-based theory of the firm, this idea is extended to view organizational knowledge as a resource with at least the same level of power and importance as the traditional economic inputs. An organization with superior knowledge can achieve a competitive advantage in markets that appreciate the application of such knowledge. Semiconductors, genetic engineering, pharmaceuticals, software, military warfare, and like knowledge-intensive competitive arenas provide both time-proven and current examples. Consider semiconductors (e.g. computer chips), which are made principally of sand and common metals. These ubiquitous and powerful electronic devices are designed within common office buildings, using commercially available tools, and fabricated within factories in many industrialized nations. Hence, the land is not the key competitive resource in the semiconductor industry.Q. The passage also mentions the trend of:a)Global financial flowb)Absence of competition in manufacturing industryc)Regionalisation of capitalistsd)Organizational incompatibilityCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: Read the following passage and answer the following question:In terms of labour, for decades the relatively low cost and high quality of Japanese workers conferred considerable competitive advantage across numerous durable goods and consumer electronics industries (eg. Machinery, automobiles, televisions, radios). Then labour-based advantages shifted to South Korea, then to Malaysia, Mexico and other nations. Today, China appears to be capitalizing best on the basis of labour. Japanese firms still remain competitive in markets for such durable goods, electronics and other products, but the labour force is no longer sufficient for competitive advantage over manufacturers in other industrializing nations. Such shifting of labour-based advantage is clearly not limited to manufacturing industries. Today, a huge number of IT and service jobs are moving from Europe and North America to India, Singapore, and like countries with relatively well-educated, low-cost workforces possessing technical skills. However, as educational levels and technical skills continue to rise in other countries, India, Singapore, and like nations enjoying labour-based competitive advantage today are likely to find such advantage cannot be sustained through the emergence of new competitors.In terms of capital, for centuries the days of gold coins and later even paper money restricted financial flows. Subsequently, regional concentrations were formed where large banks, industries and markets coalesced. But today capital flows internationally at rapid speed. Globa commerce no longer requires regional interactions among business players. Regional capital concentrations in places such as New York, London and Tokyo still persist, of course, but the capital concentrated there is no longer sufficient for competitive advantage over other capitalists distributed worldwide. Only if an organization is able to combine, integrate and apply its resources (eg. Land, labour, capital, IT in an effective manner that is not readily imitable by competitors can such an organization enjoy competitive advantage sustainable overtime.In a knowledge-based theory of the firm, this idea is extended to view organizational knowledge as a resource with at least the same level of power and importance as the traditional economic inputs. An organization with superior knowledge can achieve a competitive advantage in markets that appreciate the application of such knowledge. Semiconductors, genetic engineering, pharmaceuticals, software, military warfare, and like knowledge-intensive competitive arenas provide both time-proven and current examples. Consider semiconductors (e.g. computer chips), which are made principally of sand and common metals. These ubiquitous and powerful electronic devices are designed within common office buildings, using commercially available tools, and fabricated within factories in many industrialized nations. Hence, the land is not the key competitive resource in the semiconductor industry.Q. The passage also mentions the trend of:a)Global financial flowb)Absence of competition in manufacturing industryc)Regionalisation of capitalistsd)Organizational incompatibilityCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Direction: Read the following passage and answer the following question:In terms of labour, for decades the relatively low cost and high quality of Japanese workers conferred considerable competitive advantage across numerous durable goods and consumer electronics industries (eg. Machinery, automobiles, televisions, radios). Then labour-based advantages shifted to South Korea, then to Malaysia, Mexico and other nations. Today, China appears to be capitalizing best on the basis of labour. Japanese firms still remain competitive in markets for such durable goods, electronics and other products, but the labour force is no longer sufficient for competitive advantage over manufacturers in other industrializing nations. Such shifting of labour-based advantage is clearly not limited to manufacturing industries. Today, a huge number of IT and service jobs are moving from Europe and North America to India, Singapore, and like countries with relatively well-educated, low-cost workforces possessing technical skills. However, as educational levels and technical skills continue to rise in other countries, India, Singapore, and like nations enjoying labour-based competitive advantage today are likely to find such advantage cannot be sustained through the emergence of new competitors.In terms of capital, for centuries the days of gold coins and later even paper money restricted financial flows. Subsequently, regional concentrations were formed where large banks, industries and markets coalesced. But today capital flows internationally at rapid speed. Globa commerce no longer requires regional interactions among business players. Regional capital concentrations in places such as New York, London and Tokyo still persist, of course, but the capital concentrated there is no longer sufficient for competitive advantage over other capitalists distributed worldwide. Only if an organization is able to combine, integrate and apply its resources (eg. Land, labour, capital, IT in an effective manner that is not readily imitable by competitors can such an organization enjoy competitive advantage sustainable overtime.In a knowledge-based theory of the firm, this idea is extended to view organizational knowledge as a resource with at least the same level of power and importance as the traditional economic inputs. An organization with superior knowledge can achieve a competitive advantage in markets that appreciate the application of such knowledge. Semiconductors, genetic engineering, pharmaceuticals, software, military warfare, and like knowledge-intensive competitive arenas provide both time-proven and current examples. Consider semiconductors (e.g. computer chips), which are made principally of sand and common metals. These ubiquitous and powerful electronic devices are designed within common office buildings, using commercially available tools, and fabricated within factories in many industrialized nations. Hence, the land is not the key competitive resource in the semiconductor industry.Q. The passage also mentions the trend of:a)Global financial flowb)Absence of competition in manufacturing industryc)Regionalisation of capitalistsd)Organizational incompatibilityCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Direction: Read the following passage and answer the following question:In terms of labour, for decades the relatively low cost and high quality of Japanese workers conferred considerable competitive advantage across numerous durable goods and consumer electronics industries (eg. Machinery, automobiles, televisions, radios). Then labour-based advantages shifted to South Korea, then to Malaysia, Mexico and other nations. Today, China appears to be capitalizing best on the basis of labour. Japanese firms still remain competitive in markets for such durable goods, electronics and other products, but the labour force is no longer sufficient for competitive advantage over manufacturers in other industrializing nations. Such shifting of labour-based advantage is clearly not limited to manufacturing industries. Today, a huge number of IT and service jobs are moving from Europe and North America to India, Singapore, and like countries with relatively well-educated, low-cost workforces possessing technical skills. However, as educational levels and technical skills continue to rise in other countries, India, Singapore, and like nations enjoying labour-based competitive advantage today are likely to find such advantage cannot be sustained through the emergence of new competitors.In terms of capital, for centuries the days of gold coins and later even paper money restricted financial flows. Subsequently, regional concentrations were formed where large banks, industries and markets coalesced. But today capital flows internationally at rapid speed. Globa commerce no longer requires regional interactions among business players. Regional capital concentrations in places such as New York, London and Tokyo still persist, of course, but the capital concentrated there is no longer sufficient for competitive advantage over other capitalists distributed worldwide. Only if an organization is able to combine, integrate and apply its resources (eg. Land, labour, capital, IT in an effective manner that is not readily imitable by competitors can such an organization enjoy competitive advantage sustainable overtime.In a knowledge-based theory of the firm, this idea is extended to view organizational knowledge as a resource with at least the same level of power and importance as the traditional economic inputs. An organization with superior knowledge can achieve a competitive advantage in markets that appreciate the application of such knowledge. Semiconductors, genetic engineering, pharmaceuticals, software, military warfare, and like knowledge-intensive competitive arenas provide both time-proven and current examples. Consider semiconductors (e.g. computer chips), which are made principally of sand and common metals. These ubiquitous and powerful electronic devices are designed within common office buildings, using commercially available tools, and fabricated within factories in many industrialized nations. Hence, the land is not the key competitive resource in the semiconductor industry.Q. The passage also mentions the trend of:a)Global financial flowb)Absence of competition in manufacturing industryc)Regionalisation of capitalistsd)Organizational incompatibilityCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: Read the following passage and answer the following question:In terms of labour, for decades the relatively low cost and high quality of Japanese workers conferred considerable competitive advantage across numerous durable goods and consumer electronics industries (eg. Machinery, automobiles, televisions, radios). Then labour-based advantages shifted to South Korea, then to Malaysia, Mexico and other nations. Today, China appears to be capitalizing best on the basis of labour. Japanese firms still remain competitive in markets for such durable goods, electronics and other products, but the labour force is no longer sufficient for competitive advantage over manufacturers in other industrializing nations. Such shifting of labour-based advantage is clearly not limited to manufacturing industries. Today, a huge number of IT and service jobs are moving from Europe and North America to India, Singapore, and like countries with relatively well-educated, low-cost workforces possessing technical skills. However, as educational levels and technical skills continue to rise in other countries, India, Singapore, and like nations enjoying labour-based competitive advantage today are likely to find such advantage cannot be sustained through the emergence of new competitors.In terms of capital, for centuries the days of gold coins and later even paper money restricted financial flows. Subsequently, regional concentrations were formed where large banks, industries and markets coalesced. But today capital flows internationally at rapid speed. Globa commerce no longer requires regional interactions among business players. Regional capital concentrations in places such as New York, London and Tokyo still persist, of course, but the capital concentrated there is no longer sufficient for competitive advantage over other capitalists distributed worldwide. Only if an organization is able to combine, integrate and apply its resources (eg. Land, labour, capital, IT in an effective manner that is not readily imitable by competitors can such an organization enjoy competitive advantage sustainable overtime.In a knowledge-based theory of the firm, this idea is extended to view organizational knowledge as a resource with at least the same level of power and importance as the traditional economic inputs. An organization with superior knowledge can achieve a competitive advantage in markets that appreciate the application of such knowledge. Semiconductors, genetic engineering, pharmaceuticals, software, military warfare, and like knowledge-intensive competitive arenas provide both time-proven and current examples. Consider semiconductors (e.g. computer chips), which are made principally of sand and common metals. These ubiquitous and powerful electronic devices are designed within common office buildings, using commercially available tools, and fabricated within factories in many industrialized nations. Hence, the land is not the key competitive resource in the semiconductor industry.Q. The passage also mentions the trend of:a)Global financial flowb)Absence of competition in manufacturing industryc)Regionalisation of capitalistsd)Organizational incompatibilityCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice CLAT tests.