It has become a commonplace to say that the world is changing at an ever-increasing pace. Companies today are faced with a stark choice: ___________ or go under. For example, four decades ago, companies typically tended to be ___________ . They were built on a model which achieved a high degree of control, but in which ___________of communication were few and slow. Another disadvantage of this type of organisation is that more junior ___________ may not even know who the CEO is, or what ___________ the decision-makers are trying to achieve. In order to try to solve this problem, many organisations have adopted a less ___________ , more flexible business culture in which frequent contact between the owner and the employees ensures that ___________is flowing smoothly. A second difficult choice for a company concerns the extent to which it should go global or remain ___________ . Global operations allow maximum ___________ of scale, while localisation makes it possible to respond ___________ of scale, while localisation makes it possible to ___________ . In order to reduce the tension between global and local demands, many companies have adopted a 'hub and spoke' structure. They use several regional production and manufacturing ___________ 'hubs' where neighbouring markets are serviced from one single location.