Elaborate on the following example(s) of companies/groups of companies which faced challenges because of globalisation:• Carrefour closed its only branch in Singapore after 15 years.This due to competitions from other companies offering similar products in Singapore.• Small and Medium Enterprises (SMEs) are important to Singapore's economy as they contribute more than 50 per cent of economic output and 70 per cent pf employment in Singapore. - have found them selves unable to compete with larger companies that offer the same products or services.
- small domestic market and shortage of expertise and labour.
- unable to earn enough profit to sustain their operations.