Individual term paper Essay Example | Topics and Well Written Essays - 3250 words

Individual term paper - Essay Example tinies of these huge corporations which in some cases have replaced national ruling classes as the determinants of what goes on nationally and internationally. Businesses that are able to control these factors are advantaged in expansion of market share and size, profit maximization and cost minimization, not to mention the increased efficiency among other competitive and comparative advantages. The main factors are the: objectives of the MNC, means of achieving those objectives, societal and physical influences on that society, and market or competitive influences. These main factors vary from one country to the other, and hence the MNCs have to tailor their strategies and operations to meet the specifics of each individual country. Such multinationals include giants in the service industries like McDonalds, banking institutions like Standard Chartered Bank, and manufacturers like Toyota. The consumer electronics company, Samsung will be used as a case study to illustrate how these factors determine the failure or success of MNC operations in countries other than their home countries. A multinational corporation is a business entity that operates across multiple countries and markets. Also known as transnational companies, they are conglomerates of business with branches in different regions of the world, most of them straddle different industries. It can either operate one core business throughout the world such as manufacturing, or it has diversified in different sectors such as operating in both manufacturing and service industry (Gooderham & Nordhaug 2003). Globalization has promoted the emergence of large companies that are able to take advantage of the opportunities by undertaking huge operations across national boundaries. Globalization is due to convergence of consumers’ tastes, thus creating a global market. Worldwide production of goods is sourced and manufactured globally, and with the technological advances connecting the world, employees are