Directions: Read the following passage carefully and answer the questions given below it. Certain words/phrases are given in bold to help you locate them while answering some of the questions.

Core competencies and focus are now the mantras of corporate strategists in Western economies. But while managers in the West have dismantled many conglomerates assembled in the 1960s and 1970s, the large, diversified business group remains the dominant form of enterprise throughout most emerging markets. Some groups operate as holding companies with full ownership in many enterprises, others are collections of publicly traded companies, but all have some degree of central control.

As emerging markets open up to global competition, consultants and foreign investors are increasingly pressuring these groups to conform to Western practice by scaling back the scope of their business activities. The conglomerate is the dinosaur of organizational design, they argue, too unwieldy and slow to compete in today's fast-paced markets. Already a number of executives have decided to break up their groups in order to show that they are focusing on only a few core businesses. 

There are reasons to worry about this trend. Focus is good advice in New York or London, but something important gets lost in translation when that advice is given to groups in emerging markets. Western companies take for granted a range of institutions that support their business activities, but many of these institutions are absent in other regions of the world. Without effective securities regulation and venture capital firms, for example, focused companies may be unable to raise adequate financing; and without strong educational institutions, they will struggle to hire skilled employees.

Communicating with customers is difficult when the local infrastructure is poor, and unpredictable government behavior can stymie any operation, although a focused strategy may enable a company to perform a few activities well, companies in emerging markets must take responsibility for a wide range of functions in order to do business effectively. 

In the case of product markets, buyers and sellers usually suffer from a severe dearth of information for three reasons. First, the communications infrastructure in emerging markets is often under-developed. Even as wireless communication spreads throughout the West, vast stretches in countries such as China and India remain without telephones. Power shortages often render the modes of communication that do exist ineffective. The postal service is typically inefficient, slow, or unreliable; and the private sector rarely provides efficient courier services. High rates of illiteracy make it difficult for marketers to communicate effectively with customers. 

Second, even when information about products does get around, there are no mechanisms to corroborate the claims made by sellers. Independent consumer - information organizations are rare, and government watchdog agencies are of little use. The few analysts who rate products are generally less sophisticated than their counterparts in advanced economies. 

Third, consumers have no redress mechanisms if a product does not deliver on its promise. Law enforcement is often capricious and so slow that few who assign any value to time would resort to it. Unlike in advanced markets, there are few extrajudicial arbitration mechanisms to which one can appeal. 

As a result of this lack of information, companies in emerging markets face much higher costs in building credible brands than their counterparts in advanced economies. In turn, established brands wield tremendous power. A conglomerate with a reputation for quality products and services can use its group name to enter new businesses, even if those businesses are completely unrelated to its current lines. Groups also have an advantage when they do try to build up a brand because they can spread the cost of maintaining it across multiple lines of business. Such groups then have a greater incentive not to damage brand quality in anyone business because they will pay the price in their other businesses as well.

Which of the following sentence(s) is/are correct in the context of the given passage?
I. Consultants and foreign investors argue that the conglomerate is the dinosaur of organisational design too unwieldly and slow to compete in today's fast-paced markets  
II. Core competencies and focus are now the mantras of corporate strategists in western economies.
III. Due to lack of information required, companies in emerging markets face much higher costs in building credible brands in comparison to their counterparts in advanced economies. 

Directions: Read the following passage carefully and answer the questions given below it. Certain words have been printed in bold to help you locate them while answering some of the questions.
   
Indeed the western recession is really the beginning of good news for India! But to understand that we will have to move away for a while from the topic of western recession . . . . . . . to the Japanese recession! For years the Japanese style of management has been admired. However, over the last decade or so, one key question has sprung up ‘if Japanese management style is as wonderful as described then why has Japan been in a recession for more than a decade?'
The answer to this question is very simple. Culture plays a very important part in shaping up economies. What succeeds in one culture fails in another. Japanese are basically nonmaterialistic. And however rich they become, unlike others, they cannot just keep throwing and buying endlessly. And once they have everything they need; there is a saturation point. It was only when companies like Toyota realized that they cannot keep selling cars endlessly to their home market that they went really aggressive in the western markets-and the rest is history. Japanese companies grew bigger by catering to the world markets when their home markets shrunk.

served equally well. They were lured through advertising and marketing techniques of ‘dustbinisation' of the customer; and then finally, once they became ready customers, they were given loans and credits to help them buy more and more. When all the creditworthy people were given loans to a logical limit, they ceased to be a part of the market. Even this would have been understandable if it could work as an eye-opener. Instead of taking the 'Right Step' as Toyota did, they preferred to take a 'shortcut'. Now banks went to the noncredit worthy people and gave them loans. The people expectedly defaulted and the entire system collapsed.

Now like Toyota western companies will learn to find new markets. They will now lean towards India because of its common man! The billion-plus population in the next 25 years will become, a consuming middle-class. Finally, there will be a real surge in income of these people and in the next fifty odd years, one can really hope to see an equal world in terms of material plenty, with poverty being almost nonexistent! And this will happen not by selling more cars to Americans and Europeans. It will happen by creating markets in India, China, Latin America and Africa, by giving their people purchasing power and by making products for them.
The recession has made us realize that it is not because of worse management techniques, but because of limits to growth. And they will realize that it is great for planet earth. After all, how many cars and houses must the rich own before calling it enough? It's time for them to look at others as well. Many years back, to increase his own profits, Henry Ford had started paying his workers more, so that they could buy his cars. In similar fashion, now the developed world will pay the developing world people so that they can buy their cars and washing machines.
The recession will kick - start the process of making the entire world more prosperous, and lay the foundation of limits to growth in the west and the foundation of real globalization in the world - of the globalization of prosperity. And one of its first beneficiaries will be India. 

Direction: Choose the word which is most similar in meaning to the word printed in bold as used in the passage.
CATERING 

RESOURCEFULNESS 

Read the following passage carefully and give answer the question.
Great books do not spring from something accidental in the great men who write them. They are the affluence of their very core, the expression of the life itself of the authors. And literature cannot be said to have served its true purpose until it has been translated into the actual life of him who reads. It is the vast reservoir of true ideas and emotions. In a world deprived of literature, the broad, the noble, the generous would tend to disappear and life would be correspondingly degraded because the wrong idea and the petty emotion would never feel the upward pull of the ideas and emotions of genius. Only by conceiving a society without literature can it be clearly realized that the function of literature is to raise the plain towards the top level of the peaks. Literature exists so that where a man has lived finely, ten thousand may afterward live finely. it is a means of life, it concerns the living essence.

If a world is deprived of literature, what would happen to the broad, the noble and the generous?

Directions: In the following questions, sentences are given with blanks to be filled in with an appropriate word(s). Four alternatives are suggested for each question. Choose the correct alternative out of the four as your answer.

He quarreled with his boss, ________ of the consequences. 

Identify the segment in the sentence which contains the grammatical error.

We have been staying at the hotel since the last ten days.

Direction:  In the following passage, there are blanks each of which has been numbered. These numbers are printed below the passage and against each five groups of words have been suggested, one of which fills the blanks appropriately.

Saudi Arabia has allowed women into the national stadium for the first time as it launched celebrations to mark the 87th anniversary (1) with an unprecedented array of concerts and performances. The events are part of the government’s Vision 2030 reform program launched two years ago to (2) away from oil, create new sectors to employ young citizens and open up Saudis’ cloistered lifestyles. However, in a country (3) Wahhabi brand of Sunni Islam, which bans gender mixing, concerts, and cinemas, the plan’s seemingly anodyne goals to empower women, promote sports and invest in entertainment (4). They have stepped up national day celebrations that were previously attacked by clerics as (5), and are promoting heritage sites, such as Nabatean rock temples, once seen as embarrassing in the land of Islam.

Choose the correct answer from the given options to fill the blank 4.

Select the incorrectly spelt word.