Challenge and Competition in a Globalised World

an old section and a new section. The town is located on the banks of a lake called Lake Zug. The first reference to Zug is from 1242 C.E. In 1273, Rudolf IV of Habsburg bought this area. In 1352, it was incorporated into the Swiss Confederation. In the period of what is called ‘The Reformation’, it remained Roman Catholic. There are still many historical buildings in the town. There was a small library in the hotel suite where arrangements had been made for me to stay. It contained books on general topics. We placed some of our books in the library. I came across an English magazine, Pearls of Switzerland, in the library, where I spotted an article about education. A passage from the article, produced below, highlights some significant facts: ‘The world economy is becoming increasingly global, and markets are virtually integrated. For a small and open economy like Switzerland’s, globalisation and the integration of markets means that companies are in permanent competition with others. In such a marketplace, companies can only survive and gain market shares if they constantly develop new and original market products and services that respond to