Impact of Corporations to the Global Economy

-This globalization has been greatly facilitated by transnational businesses, who have
established countless links between the economies of various countries. MNCs invest money
from wealthy nations in the construction of factories and plants in developing nations so they
may take advantage of the cheaper labor and raw materials available there. Large organizations
are important to the overall economy because they frequently have more financial resources
than small businesses to carry out research and create new products. Additionally, they
frequently offer a wider range of career opportunities, greater job security, higher income, and
superior health and retirement benefits.

You can create new job opportunities.

Hiring locals will increase the number of job opportunities in the country where you're
expanding. In addition to helping, this supports the neighborhood economy. By creating the
same. According to their definition, corporate social responsibility is the "ongoing commitment
of company to contribute to economic progress while enhancing the standard of living for the
employees, their families, as well as for the community and society as a whole" (World Business
Council, 1998). Through generating new jobs, realizing new investments, introducing new
technology, and enabling host countries to integrate and advance in global value chains, MNEs
are thought to support growth and employment (GVCs). Multinational corporations can drop
prices and boost global customer purchasing power by producing identical goods at lower costs.
Direct financial investment abroad and employment creation in such nations' local economies
are two further advantages. Multinational corporations may not feel obligated to one nation
over another because of their lack of national ties, which leads to economic insecurity for both
the workers and the neighborhood where they have manufacturing facilities.

Mark Ian R. Velasco BS-Crim 1-D