Two sets of forces- globalization and localization - shape the competitive structure of industries. (a) Using the Global/ multi-local mapping tool in the diagram below, discuss why are savings accounts (retail banking) positioned low on global approach and high on local approach while investment banking is high on global approach and local approach? HIGH MICRO CHIPS MILITARY AUTOMOBILE AIRCRAFT PHARMACEUTICALS Investment TELECOMMUNICATION Banking EQUIPMENT BULK CHEMICALS CIVIL AIRCRAFT TELECOMMUNICATION SERVICES GLOBALISATION FORCES PACKAGED FOOD RETAIL BANKING FOOD RETAILING LOW LOW LOCALISATION FORCES HIGH (b) What are the benefits of having a local approach? Discuss any four benefits of adapting products and services to the market requirements, with the help of examples