Multinational Corporations: Blessing or Damnation Wal-Mart started its operations in 1962 with its first retail store opened in Rogers, Arkansas. By the fourth quarter of 1970; the company had 276 stores throughout USA in its possession. Between the second and third quarter of 1980, the number of Wal-mart’s stores reached to the peak of 882 which ultimately leaded the company to become the market leader in the retail sector of United States of America. Until then the company had not stepped into the international market and now it was the time to take the major decision. So in 1991, the company started operating in other countries for the very first time. The first foreign country where Wal-Mart opened its initial most out let was Mexico. The company then started to operate in Canada and Brazil through getting hold of Greenfield investment. Later more out lets were opened in Hong Kong, Argentina, etc (Harrison, 2008). Wal-Mart has actively utilized the retail internationalization which typically revolves around the incorporated concepts of who are the participants of internationalization, what are their aims and objectives, how they will be directing their growth plan, how they will make a success and everlasting entry in to a market of some foreign land, what mechanisms should be applied, how the adaptation or the consistency approaches will move on, what will be the company’s centre of attention after entering the market, how the growth will be sustained, what diversification strategies shall be applied and finally how the company will respond to the foreign land’s culture, economics, politics and other social aspects which are in one way or the other influential for both the organization and its customers/consumers (Dawson, 2006). All these variables of retail internationalization have played a significant role in the ultimate success of Wal-Mart. The importance of retail internationalization can only be understood by making a link between the geographic and economic conditions of a country in which the multinational organization is operating. The multinational organizations such as Wal-Mart mark substantial prints on the mind sets and lifestyles of the community people they are serving. This can be noted by the fact that few years back when the trend of multinationals was not even developed people used to maintain distinctive and original life styles however, as soon as the multinationals grew up the overall world economy and culture met severe changes because when people of some other countries come and trade with foreign people they leave behind their indentifying marks which are then absorbed by the local civilians. On the other hand these foreign companies also accept the cultural and societal norms of the foreign land. In this way the overall culture of the globe has started to turn into a single yet most powerful social system. The geography of a country is also very important in changing or sustaining the lifestyle of its inhabitants (Coe, 2004). The famous slogan of Wal-Mart has the strongest impact over its success story and continuous line of achievement. The slogan is ‘Every Day Low Prices’ which attracts people from all over the world to come and visit their stores. It has the most captivating power as the general public and students who are already drawn with interest and
Multinational Corporations: Blessing or Damnation [Name] [University] Abstract This paper is aimed at analyzing the performance of Wal-Mart from different perspectives including social, economic, political, and technological particularly its overall existence as a blessing or damnation for the communities in which it is operating…
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conomy intensified the political, social, cultural and economic relations which somehow reverted the world into transcendental homogenization where major global economic traders work. This research will explore about the lives of multinational corporations and its consequences
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