It has become a commonplace to say that the world is changing at an ever-increasing pace. Companies today are faced with a stark choice: __ or go under. For example, four decades ago, companies typically tended to be __ They were built on a model which achieved a high degree of control, but in which __ of communication were few and slow. Another disadvantage of this type of organisation is that more junior .. __ may not even know who the CEO is or what __ the decision-makers are trying to achieve. In order to try to solve this problem, many organisations have adopted a less __ , more flexible business culture in which frequent contact between the owner and the employees ensures that __ is flowing smoothly. A second difficult choice for a company concerns the extent to which it should go global or remain __ . Global operations allow maximum __ of scale while localisation makes it possible to __ "quickly and to reach all market __ .". In order to reduce the tension between global and local demands, many companies have adopted a 'hub and spoke' structure. They use several regional production and __ "hubs'where neighbouring markets are serviced from one single location. 1 a) adopt b) market c) adapt d) research 2 a) economical b) hierarchical c) welcoming d) democratic 3 a) webs b) media c) roads d) channels 4 a) customers b) directors c) staff d) buyers 5 a) goals b) design c) plan d) sales 6 a) bureaucratic b) caring c) decentralised d) market-driven 7 a) information b) news c) speech d) interest 8 a) professional b) static c) local d) impersonal 9) production b) economies c) marketing d) savings 10 a) call 11 a) shares 12 a) manufacturing b) demand b) research b) selection c) enquire c) leaders c) distribution d) respond d) sectors d) advertising