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Q 1-1. What is meant by “global localization?” Is Coca-Cola a global product? Explain.1-2. Describe the difference between ethnocentric, polycentric, regiocentric, and geocentric management orientations.3-1. Explain the role of the World Trade Organization. Why has the Doha Round of trade talks stalled?3-2. Describe the similarities and differences between a free trade area, a customs union, a common market, and an economic union. Give an example of each.

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Global localization emerges as the use of customization of the different products which is produced by the companies and franchises which depends usually on the location. It tends to mix the standardization and customization which helps in reducing the overall costs and it maximizes the satisfaction and the products that are customized depends on the location. There is a slogan which is used that explains to think globally but act locally. Global localization helps in representing the attempt to capture the main spirit of holding an organization and also to manage all the problems that might be created on a particular location.