Introduction of Mnc Final

7/27/2019 Introduction of Mnc Final

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IMPACT Of MNC’s & TNC’s IN INDIA

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INTRODUCTION OF MNC’S

A company which is incorporated in one country and has business units in several countries

is called a multinational company. Two different words “Multi”& “National” makes the

word multinational where “Multi” means “many”& “national” means “countries”. MNC’s is

a very large business Enterprise with huge capital. MNC’S is an organization registered in

one country but has its operations spread over the entire global area. MNC’S are also called

as Global Corporations or International companies. MNC’S earn huge profits through their

operations across the world. The ownership and activities of MNC’S are spread in more than

one country It is giant firm with its headquarters located normally in a rich country but

conducted variety of business operations in several other countries. MNC’S are like holding

companies with head office in one country and business operations spreads in many countries

including the country of their origin

The term MNC is American in origin moreover, maximum number of MNC’S have their

origin in the USA. IBM computers, Microsoft, Dell,

Coca Cola, Pepsi, Colgate, Palmolive, Philips, nokia, Sony and Honda are some of the

examples of world known as MNC’S. coca cola, for example, operates in as many as 130

countries. Similarly, products of MNC’S e.g. soap cigarettes, beverages etc. are part of daily

life of citizens in most of the countries worldwide.

DEFINITION OF MNC’S According to David E. Lilien

“Multinational companies means “corporations which have their home in one country but

operate and live under the laws and customs of other countries as well as (host countries)”

According to Neil H. Jacoby

“A multinational corporation owns and manages business in two or more countries”




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INTRODUCTION OF TNC’S

A commercial enterprise that operates substantial facilities does business in more than one

country and does not consider any particular country its national home. TNC is a big global

enterprise, which conducts business operations (e.g. research in one country production in

another country, assembling in third country and marketing in many countries in large

number of countries and is more suitable to present global economy. It represents superior

type of multinational and is global corporation in the real sense with high degree of

integration of operations and activities. In this sense it is correct to say that TNC’s are

superior to MNC’S.

There is a difference between MNC and TNC as regards organization structure and functions. They do not function in similar manner.MNC operates as a holding company

where as TNC operates as one strong and workable business groups. TNC are among the

world’s biggest economy institutions. In a

MNC, the subsidiary companies have less functional autonomy, where as in a TNC

subsidiary companies have more functional autonomy. For example in turkey people prefer

drinks more sugar so they make changes in their products to keep their customers all around

the world. Some of the examples of TNC ‘S are Audi, Costa coffee, Apple, Amazon, Tesco,

McDonald’s.

DEFINITION OF TNC

In simple words

“A transnational company or corporation is simply a company that produces and sells

its products in different countries”




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FEATURES OF MNC’S AND TNC’S

I. LARGE SIZE

MNC’S and TNC’S are giant corporations established normally in rich

countries with huge capital but conducts business operations in many poor

and developing countries. it is firm whose owners and top management do not

come predominantly from one country but from different countries where the

members companies are operating.

II. MULTI FARIOUS ACTIVITIES

The activities of MNC’S and TNC’S include manufacturing, marketing,

research development transfer of technology and so on. they do each activity

in each country .

III. CENTRALISED &HIGHLY PROFFESIONALISED

Generally, the business policies are formulated by top level management

which are implemented by subsidiaries companies all over the world. These

companies are managed by highly professionalized managers person heading

these companies are competent to view global scenario understand

international markets and handle employees with different culture

IV. PROFIT MOTIVE

The main objective of MNC’S and TNC’S is to maximize their profit. They do

not work towards public welfare and they want to increase their profit by any

means.

V. QUALITY PRODUCT AT REASONABLE PRICES

Since MNC’S and TNC’S spend a lot of money on research and development,

they ensure that the best quality products are supplied all over the world. The

MNC’S and TNC’S take advantages of international divisions of labor and

specialization therefore they supplied products at reasonable price for example

price of wrist watches , cell phones, I-pod ,etc have came down drastically in

india in last few years.




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VI. POLITICAL INFLUENCE

MNC’S and TNC’S acquire immense economic power through the business

mergers and takeover of different business organization in several countries.

In the course of time they grow beyond proportion &become so powerful that

they start influencing political decisions of the government of home &host

countries.

VII. HUGE CAPITAL

These companies raise capital on huge scale. Capital is collected by way of

issuing shares to the public. Their shareholders are spread all over the world as

they operate in different countries.

VIII. OPERATES AS PER LOCAL LAWS

MNC’S and TNC’ operate as per the laws of countries in which they operate.

They may undertake manufacturing or service activities. They also offer

turnkey projects to their clients. They have to honor laws of countries in which

they operate. Normally, they are not given special concessions by the host

countries.

IX. OPERATES BEYOND NATIONAL BOUNDARIES

MNC’S and TNC’S are big global enterprise which operates beyond the

national boundaries. TNC is a MNC in which both membership & control are

dispersed at global level.

X. EXPANDS ACTIVITIES THROUGH DIFFERENT CHANNELS

MNC’S and TNC’S expand their business activities by different methods like

investment of funds, establishment of subsidiaries and foreign branches,

collaborations, joint ventures etc. such activities also provide huge profits to

MNC’S &TNC’S. they also earn huge profit through fees, royalities and

patents.




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XI. INVEST FUNDS IN POOR/ DEVELOPING COUNTRIES

The MNC’S and TNC’S mainly invest their funds in poor and developing

countries of Asia, Africa and Latin America and earn huge profit. They also

facilitate the flow of Modern technology to developing countries for

industrial development growth of many developing countries is due to

positive contribution of MNC’S and TNC”S.

XII. SUPPORT TO DEVELOPING COUNTRIES

MNC’S & TNC’s have helped developing countries in different ways. For

example they have developed infrastructure facilities in developing countries.

They have also raised competitiveness of domestic industries for exports Or

by paying different royalty

XIII. ENSURE OPTIMUM UTILIZATION OF RESOURCES

MNC’S and TNC’S ensure optimum utilization of natural and other resources

available in home and host countries. This leads to economic environment.

XIV. TYPES OF MNC’S

MNC’S are of different types. This depends on the activities and operationsundertaken by them. Such types include

a. Public utility companies

b. Manufacturing companies

c. MNC’S provide turnkey projects

d. MNC’S providing licensing facility to domestic companies




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IMPORTANCE OF MNC’S AND TNC’S

The importance of MNC’S and TNC’S has been a good boon all over the

world. They have become support to many developing countries. Some of its

importance as follows:-

1) BRINGS INTEGRATION IN THE WORLD ECONOMY

MNC’S and TNC’S operates at global level and conducts

production & marketing activities using local resources as factors of

production. The concept of transnational is closely connected with the concept

of world market which acts as an integrator for countries & companies

operating at different levels.

2) BENEFITS IN PRODUCTION & MARKETING

MNC’S & TNC’S take the benefit of availability of plenty of

raw materials in one country, cheap labor available in another country, easy

finance in the third country , economical infrastructure in one or more country

and conduct production as well as marketing activities in an interrelated

manner. Goods produced are sold in many countries and this is how it

integrates production & marketing activities at global level.

3) GOOD INTERNATIONAL RELATION

A multinational company recognizes the country in the

international market. It creates harmonious relation between parent country &

subsidiary countries.

4) INCREASE WORLD DEPENDENCY

MNC and TNC increase the dependency of world countries

over each other due to that they become friends of each other.




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5) DECENTRALISES PRODUCTION ACTIVITIES

MNCs and TNCs integrates the factors of production available

in different countries. A TNC may have production plants in ten or twenty

countries and manufacturing entire product line in a decentralized manner. In

addition, it sells its entire production in different countries where promising

markets are available.

6) MARKETING PRODUCTS GLOBALLY

MNCs and TNCs manufacture goods in different countries by

using local labor and raw materials. Such production of subsidiaries is sold in

the host country and also exported to other countries. This is how they

participate in global trade and also expand their business.

7) NO WAR

MNCs and TNCs also plays a very important role in the

maintenance of World peace. For example- There are a lot of Germany and

French MNCs that are working in Germany and French they will always try to

focus on friendly and good relationship and boost their economies.

8) INTEGRATION OF WORLD MIND

One of the most significant role of MNCs and TNCs is

unification of world mind and have become successful in this regard.

Throughout the globe, instead of domestic goods, imported products are used.

It means that MNCs have made the world as a “GLOBAL VILLAGE.”




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MERITS OF MNCs and TNCs

1) PROMOTES EXPORTS AND REDUCE IMPORTS

MNCs and TNCs help the host countries to promote exports and reduce imports

by raising domestic production marketing facilities at global level are provided by

MNCs. Due to their global business contacts.

2) ACCELARATES INDUSTRIA GROWTH

MNCs and TNCs accelerate industrial growth in host countries through

collaboration, joint ventures, subsidiaries and branches. They facilitate economic

growth through financial, marketing and technological services. MNCs are rightly

called “MESSENGERS OF PROGRESS.”

3) PROMOTE FOREIGN INVESTMENT

MNCs and TNCs raise the rate of investment in the host countries and thereby

bring rapid industrial growth accompanied by massive employment opportunities

in different sectors of economy.




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4) PROVIDES SERVICES OF PROFESSIONALS

MNCs and TNCs provide the services of skilled professionals for managing

activities of enterprise in which they are involved. This raises overall managerial

efficiency of enterprises connected with multinationals. MNCs and TNCs bring

managerial revolution in host countries.

5) WORK CULTURE

MNCs and TNCs introduce a work culture of excellence, professionalism and

fairness in deals. MNCs and TNCs use various strategies like product innovation,

technology up gradation, professional management etc.

6) SUPPORT ENTERPRISES IN HOST COUNTRIES

MNCs and TNCs provide support to various enterprises in the host countries in

order to support their own operations indirectly. They support enterprises in the

host countries. Even consumers get new goods and services due to operations of

MNCs and TNCs.

7) FACILITATE TRANSFER OF TECHNOLOGY

Multinationals and Transnational corporation act as agents for the transfer of

technology to developing countries and thereby help such countries to modernize

their industries. They remove technological gaps in developing countries by

providing techno-managerial skills.

8) EMPLOYMENT GENERATION

MNCs and TNCs creates massive employment opportunities within the country of

their origin and also to host countries.




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9) INVESTMENT IN DEVELOPING COUNTRIES

The MNCs and TNCs mostly invest in developing countries so as to bring in latest

technical knowhow in such countries. In return, they earn huge profits and

goodwill in the global market.




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DEMERITS OF MNCs AND TNCs

1) CHARGE HEAVY FEES

MNCs and TNCs charge heavy fees and service charges from the enterprise in the

host countries. They repatriate profits of their subsidiaries to their home countries.

This leads to outflow of capital from the host country. As a result, the host country

has to face scarcity of foreign exchange.

2) USE NATURAL RESOURCES INEFFICIENTLY

MNCs and TNCs use the resources in the host countries in a inefficient manner which

leads to fast reduction of non-renewable natural resources. MNCs and TNCs do not

give attention to environmental protection and ecological balance while conducting

production activities. This is highly dangerous to developing countries in the long run.

3) POLITICAL INTERFERENCE

Experience has proved that multinationals take undue interest in the economic and

political systems of the host countries. They put pressures for the formulation of

policies which are favourable to them. They even topple the government in the host

countries if its policies are against the multinationals and their operations.

4) PROBLEM OF TECHNOLOGY

MNCs and TNCs design technologies which can be used in different countries. The

technology is designed for profit maximization and not purely for meeting the needs

of developing countries. The technology supplied to host countries may be costly and

may be outdated and obsolete.




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5) HARMFUL TO LOCAL INDUSTRIES

MNCs and TNCs create harmful effects on the local industries and small scale units.

Their marketing in the domestic marketing is harmful to local industries as they find it

difficult to face competition from MNCs and TNCs. In India, local/small industrial

units are even closed down due to competition from imported goods and goods

supplied by MNCs and TNCs.

6) DOMINATE WORLD TRADE ORGANISATION

MNCs and TNCs not only try to dominate the economies of the countries in which

they operate but also try to dominate world trade organization. In fact, WTO is

described as an instrument of multinational companies.

7) LIMITED CONTRIBUTION IN BALANCED GROWTH

Multinationals and Transnational’s offer financial, technical and managerial services

in certain areas which are profitable and less risky. They are on the lookout for

greener investment opportunities but do not consider the needs and priorities of host

countries while investing funds. Thus, their contribution in bringing balanced

industrial growth in host countries is insignificant.




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8) INVESTMENT MAINLY IN PROFITABLE SECTORS

MNCs and TNCs are interested in investing their funds in areas where the risk

involved is less but the profitability is high. They are not interested in the national

priorities of host countries. They take special interest in consumer goods industries for

quick and handsome profits but neglect heavy/ basic industries, infrastructure

industries etc. The investment by MNCs and TNCs do not offer substantial benefits to

national economies of host countries.

9) BAD BUSINESS ETHICS

Sometimes MNCs and TNCs follow bad business ethics by paying bribes to influence

people to get things done, sometimes they create artificial demand of goods so as

more profit and create monopoly in the market.




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WHY ARE MULTINATIONAL AND TRANSNATIONAL COMPANIES IN INDIA?

India has got a huge market. It has also got one of the fastest

growing economies in the world. Besides the policy of the government towards FDI has also

played a measure role in attracting the multinational and transnational companies in India.

For a quite long time, India had a restrictive policy in terms of

foreign direct investment. As a result, there was lesser number of companies that showed

interest in investing in Indian market. However the scenario changed during the financial

liberalization of the country, especially after 1991. Government nowadays makes continuous

efforts to attract foreign investment by relaxing many of its policies. As a result, a number of

multinational companies have shown interest in Indian market.

As the basic economic data suggest that after the liberalization in

1991, it has brought in hosts of foreign companies in India and the share of U.S shows the

highest. They account about 37% of the turnover from top 20 companies that function in

india.



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EXAMPLES OF MNCs

1) PEPSI CO:

Pepsi Co. Inc. entered in the Indian market with the name of Pepsi Co India

from the year 1989. Within a short time span of 20 years, this company has

emerged as one of the fast growing as well as largest beverage and food

manufacturer. As per annual report of the company in the last business year,

the net revenue of PepsiCo grew by 33%. By the year 2020, this food

manufacturing company intends to triple their portfolio of enjoyable and

wholesome offerings. The expansion of their Good-for-you portfolio is

believed to be assisting the company in attaining the competitive advan

TRANSNATIONAL CORPORATION.




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2) NOKIA CORPORATION:

Nokia corporation was started in the year 1865.being one of the leading

mobile companies in India ,there stylish product range includes the following:-

• Normal mobile handsets

• Smart phones

• Touch screen phones

• Dual sim phones

• Business phone

The net sales of the company increase by 4%in last financial

year with sales of EUR 42.4billion as compared to 2009’s EUR 41 billion. Over the past few

years these company in India has been acquiring companies, which have got new and interesting competencies and technologies so as to enhance their ability of creating the

mobile world. Besides new developments to fight against mineral conflicts, they are even to

set up Bridge Centers in the country for supporting re-employment. There first on site for the

installation of renewable power generation are already in place.




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IMPACT OF MNCs and TNCs on India

Since 1990, it has been noted that, there has been change in the overall attitude of

multinationals and transnational’s. The approach of developing countries towards MNCs and

TNCs is also changing due to the globalization process. There has been shift in the bargaining

power between MNCs and their host countries. Developing countries are less dependent on

multinationals. There are many questions regarding the benefits of hosting a MNC or TNC.

MNCs ’Impact on Host Societies

MNCs carry out research to identify human needs, problems and lifestyles and come up with

multidimensional responses, including the development of products and services. What

causes them to conduct such researches and produce goods accordingly? Is it for the good of

public or maximizing their own profits? This puts the whole process of globalization in

question as its generally proclaimed goal is the good of common people. Before examining

what happens when MNCs enter host societies to achieve their commercial objectives, it is

pertinent to discuss the problems and strengths of the host societies.

The Positive Impact

When MNCs enter host societies, there are some benefits, which are outlined below:

Financial and Technological Resources and Expertise: MNCs provide immense resources and

investments, technology, innovation and expertise to the host societies. A culture of research

and development is encouraged and human resources are developed, at least within the

organization. MNCs also contribute significantly to the national exchequer by paying taxes.

Good Business Practices:

Good governance, organizational transparency, clear command structures, and performance-

based evaluation and incentives programs for employees encourage the merit system. MNCs

introduce a professional working environment.




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Infrastructure Improvement:

Many MNCs help in improving the infrastructure and provision of basic needs in their

specific areas of operation.They either do so directly or provide funds for this purpose to civil

society organizations. This also improves business conditions within and in the vicinity of the

areas where they are operating.

Pluralism:

MNCs help boost cross-boundary interaction among people. Even education, particularly,

business education, has taken on a global perspective. The global perspectives and

opportunities for cross-cultural understanding increase the adaptability of students to alien

environments. This leads to the mixing of cultures and practices and encourages pluralism as

well as competition. Nevertheless, MNCs can also pose problems for host societies in the

spheres of social and economic development and cultural diversity. How this happens is

outlined below.

9 Conflicts of Interest:

MNCs are commercial organizations and their only interest is to gain maximum return on

their invested capital, occupy market shares and ensure their long-term competitiveness. This

leads to conflict of interests between the MNCs and host societies on issues like repatriation

of profits, patents, and major operational decisions. Host countries would want MNCs to

work in a manner that is harmonious with the social and political needs of their societies and

communities, whereas the MNCs make their choices based purely on economic criteria. This

conflict of interests leads to conflict within societies.

9 Increasing Materialism and Consumerism:

MNCs promote a culture of conspicuous consumption, in which presentation and cosmetic

changes matter the most. The product models change very fast and the older ones lose

relevance in a short span of time. Consumerism has an overwhelming impact on societies.

For example, departmental stores and shopping malls/plazas are mushrooming everywhere

both as an outcome of and an impetus to further consumerism. Eating habits are also




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changing, with increasing consumption of processed, instant, fast and junk food, especially

products of international brands. The emphasis is on instant access and quick relief. Many

products also glamorize life in the fast lane, leading to increased consumption of faster

communication products, cars, as well as stimulants such as cigarettes, and alcohol. As

outward looks become central in the vision of success, a vibrant fashion industry is changing

the dress and outlook of ordinary people. Spending priorities have changed.

Contrary to the conventional view, taking loans is now considered a status symbol. The

availability of easy credit, consumer financing, credit cards and personal loans by the banks

to the middle class is promoting a culture of people living beyond their means.

Simplicity is losing currency and people strive to live in luxury. This trend makes the

disparity of resources among people, groups and even regions look wider. Previously,

education was aimed at developing a balanced personality and ethical and social values and

character building were emphasized. Now, however, materialism has taken over.

9 Healthcare Attitudes:

Healthcare attitudes are changing and people expect better health services. The job is made

easier by the new norm of “third party cashless payments,” where payment is made via credit

cards or health insurance. The focus has now increased on preventive healthcare. Although it

is good for those who can afford these facilities - and they are the targets of MNCs- yet it is

extremely frustrating for those who cannot afford them. Hectic routines, targets and deadlines

are resulting in stresses and pressures. A destructive lifestyle has led to a host of medical

crises: sexual problems from over-performance at work, stress, mid-life crisis, ulcers, nervous

disorders, hypertension, obesity, cardiac disease, diabetes, etc., are all lifestyle-related

ailments that are on the rise.

9 Brain Drain:

The term “brain drain” is commonly used for the situation when talent goes out to other

countries. The MNCs are involved in another kind of brain drain. Their lucrative salaries

attract talent that might have contributed to the host society to work for their ‘multinational’

interests without leaving the country.

9 Cultural Changes:

MNCs use, develop and continually refine their marketing tactics to create consumers’ need

for their products. They use social marketing and stars from the worlds of sports and show

business to project their products, especially affecting the youth, women and children as they




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are generally attracted to glamour. Special events, festivals and campaigns are organized to

create hype. In this atmosphere, ethical and moral considerations have no place, and

corporate interests start determining what is to be celebrated and how. With the spread of

MNCs’ operations in a society, the importance of foreign languages increases because these

firms mostly operate among the classes equipped with foreign language skills and hire and

promote the people from the same groups.

9 Promotion of Non-Issues:

Importantly, poor people are not the target of MNCs. They target the middle classes, who

have the buying powers, and trying to change their priorities in everyday life, spending and

consumption. MNCs establish close linkages with intellectuals, legislators, media and some

non-government organizations (NGOs) to highlight specific issues that suit their business

interests.

9 Negative marketing:

When introducing their products, MNCs exaggerate the qualities to the level of cheating and

lying. Aggressive campaigns with false claims are launched. Local products are

ridiculed. Children and youth are special targets, while women are treated as commodities to

project the products, affecting the existing value framework of the societies.

9 Business Promotion through Charity:

Some MNCs are involved in charitable and welfare work in the host societies as well.

However, the amount given by them in charity is not comparable to their profits. Moreover,

the charitable work revolves around activities that directly or indirectly result in various kinds

of gains for the corporations. Charity is given where the economies best suit their corporate

interests.

9 Violation of Human Rights:

Exploitation of workers by large business corporations is a common phenomenon. Most

workers are exposed to hazardous and inhuman conditions, overexertion and financial abuse.

This happens despite the fact that many of the world’s largest business associations, including

the International Chamber of Commerce, have endorsed the UN Secretary General’s “Global

Compact,” a mechanism for self-regulation by business companies.




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RECOMMENDATION SUGGESTIONS

1 MNC and TNC should satisfy the consumers rather than aiming at

profiteering

2 They should reduce the advertisement cost so that amount spent on

advertisement and packaging would reduce the cost of product

3 Due to MNC and TNC small scale traders are adversely affected so it should

not be done on their path.

4 India welcomes all MNC and TNC but when Indian companies went to other

countries for doing business all foreign countries are not easily allowing them

to do business

5 Many companies of MNC and TNC exploit the consumer so it should be

avoided.

6 Some part of the profit should be used for social development. They should

organized events, programmers etc for the enhancing the development of

country

7 Mostly MNC and TNC misuse the natural resources of host country compare

to their own country.

8 Experience has proved that multinational companies make inteferance in

economic and political system of the host country



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BLIOGRAPHY

We have referred various books and websites for our project. they are as

follows:-

1) Textbook of organization of commerce and management; (12th std)

2) Commerce-1

3) www.Business.Maps of india.com

4) www.thesustainabilityreview.org

5) www.ehow.com

6) www.ips.dot org.pk .com

Introduction of Mnc Final

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