Essay The Impact Of Globalization On Multinational Corporations

1063 Words Feb 5th, 2016 5 Pages
Being a player as a multinational corporation, there are several business practices that need to be evaluated and polished on a regular basis in order to flourish in the global economy.
First of all, multinational corporations see a lot of benefits from the globalization of business. Technology has been a huge game changer as it has connected corporations to the world. Businesses are able to keep customers happier with the ability of acquiring goods online from anywhere and at almost any time they want. There is also the benefit of hiring outside of the U.S. that attracts businesses as they are able to save money in the long run and it creates a greater presence in the marketplace. As stated in the article The Effects of Globalization on Multinational Corporations, “Globalization allows corporations to form partnerships with companies all around the world… These kinds of partnerships minimize costs and maximize quality...” With that said, however, there are some things that corporations need to consider. With the flexibility comes a greater need for more efficient communication. Corporations that have not streamlined their efforts in this process are likely to suffer some consequences. “A company that operates in America, Japan and Europe will need to hire employees who speak many different languages, and it may be difficult for that company to make sure all employees are on the same page when only a few of them speak the same language.” (Button). With many languages…

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