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International Business (Globalization) - Essay Example
International businesses are usually known as multinational corporations. An additional, important feature of globalization is the nature as well as supremacy of multinational corporations. Companies like these are at the present responsible for almost 33 per cent of whole world's output, as well as almost 66 per cent of world trade Significantly, somewhat close to a quarter of world trade takes place inside multinational corporations (op…
International businesses are at present largely restricted to their where they originated from, only if we consider their overall business operations and activity; they stay heavily 'nationally rooted' and carry on to be multinational, to a certain extent than translational ,organizations . (Palmisano 2006)
While full globalization in this organizational sense may not have occurred on a large scale, these large multinational corporations still have considerable economic and cultural power. Multinationals can impact upon communities in very diverse places. First, they look to establish or contract operations (production, service and sales) in countries and regions where they can exploit cheaper labour and resources.
While this can mean additional wealth flowing into those communities, this form of 'globalization' entails significant inequalities. It can moreover, it may lead to outsized scale job loss in especially for those whose industries were in the past located. The wages paid in the recent settings can be nominal, and worker's privileges and conditions pitiable. ...