Business Ethics and Corporate Governance, Second Edition

ROLE OF MULTINATIONAL CORpORATIONS

Businesses in the present global society are carried on by multinational or transnational corporations, most of which are based in developed countries. ‘Multinational corporations’, or MNCs, are business entities that operate in more than one country. The name ‘multinational corporation’ is distinct from ‘international corporation’. The latter name was used in the 1960s to identify a company with a strong national identification. The home market was the company’s primary focus. Overseas operations were usually carried out by wholly owned subsidiaries controlled by home country nationals. By the 1980s, international corporations had evolved into more globally oriented companies. While still maintaining a domestic ...