CITM-001 Exam Dumps : Certified Information Technology Manager (CITM)

Globalization is the process of increasing economic, political, and cultural integration and interdependence across the world. Some of the impacts of globalization are:

• Rationalized manufacturing: Globalization enables firms to produce goods and services in different locations according to their comparative advantages, such as lower costs, higher quality, or better access to markets. This leads to more efficient and competitive production, as well as increased specialization and trade.
• Managing risk across currencies: Globalization exposes firms and individuals to fluctuations in exchange rates, which affect the value of their assets, liabilities, and incomes. To manage this risk, they may use various financial instruments, such as hedging, derivatives, or currency swaps, to reduce their exposure or benefit from favorable movements.
• Worldwide purchase: Globalization expands the range and availability of goods and services that consumers can purchase from different countries and regions. This increases consumer choice, lowers prices, and improves quality and variety. It also creates opportunities for cross-cultural learning and exchange.

References: 

Managerial control is the process of ensuring that the organization’s activities and outputs are aligned with its goals and plans. Coordination is the process of integrating the efforts of different units and individuals within the organization to achieve a common purpose. Both control and coordination are essential functions of management that aim to improve the performance and efficiency of the organization. They are closely related because they both involve setting standards, measuring performance, and taking corrective actions. They also both require communication, feedback, and cooperation among the managers and employees12345 References:

• 1: The Control Function of Management - MIT Sloan Management Review
• 2: Managerial Control | Definition, Types & Features - Study.com
• 3: Relationship between planning and controlling - Management Study Guide
• 4: Question Bank - Multiple Choice Questions (MCQs) - DACC
• 5: 4 Different Relationship between Planning and Control Expalined - Toppr

Explicit knowledge is the type of knowledge that can be easily articulated, expressed, and recorded in the form of text, number, symbol, code, formula, or musical note. It is the knowledge that is based on facts, data, and rules that can be shared and communicated. Examples of explicit knowledge are company policies, process documents, research reports, etc12345 References:

• 1: Different Types of Knowledge: Implicit, Tacit, and Explicit | Bloomfire
• 2: Tacit Knowledge Vs. Explicit Knowledge - Association for Intelligent Information Management
• 3: Tacit Knowledge: Definition, Examples, and Importance - Helpjuice
• 4: Explicit Knowledge: Definition, Examples, and Methods - Document360
• 5: Difference Between Explicit Knowledge and Tacit Knowledge - Key Differences