Multinational Corporations

Multinational corporations have existed since the beginning of overseas trade. They have remained a part of the business scene throughout history, entering their modern form in the 17th and 18th centuries with the creation of large, European-based monopolistic concerns such as the British East India Company during the age of colonization. Multinational concerns were viewed at that time as agents of civilization and played a pivotal role in the commercial and industrial development of Asia, South America, and Africa. By the end of the 19th century, advances in communications had more closely linked world markets, and multinational corporations retained their favorable image as instruments of improved global relations through commercial ties. The existence of close international trading relations did not prevent the outbreak of two world wars in the first half of the twentieth century, but an even more closely bound world economy emerged in the aftermath of the period of conflict.

In more recent times, multinational corporations have grown in power and visibility, but have come to be viewed more ambivalently by both governments and consumers worldwide. Indeed, multinationals today are viewed with increased suspicion given their perceived lack of concern for the economic well-being of particular geographic regions and the public impression that multinationals are gaining power in relation to national government agencies, international trade federations and organizations, and local, national, and international labor organizations.

Despite such concerns, multinational corporations appear poised to expand their power and influence as barriers to international trade continue to be removed. Furthermore, the actual nature and methods of multinationals are in large measure misunderstood by the public, and their long-term influence is likely to be less sinister than imagined. Multinational corporations share many common traits, including the methods they use to penetrate new markets, the manner in which their overseas subsidiaries are tied to their headquarters operations, and their interaction with national governmental agencies and national and international labor organizations.

Reading comprehension exercises:

1. Read the text, make up a plan and write down the key words.
2. Put ten questions to the text.
3. Define multinational corporations and their role.

4. Translate the following words and word-combinations into Ukrainian: a pivotal role, advances in communications, retain the favorable image, in the aftermath, prevent the outbreak, sinister, overseas subsidiaries.

1. Translate the Ukrainian words and word-combination in brackets into English:

The formation of international organizations has been a 20th- century (явище). Nowadays there are more than 2,500 international organizations. Among them are more than 130 intergovernmental unions. The (Організація Об’єднаних Націй) is the most notable. Other important organizations are the European Economic Community, the (НАТО), the Organization of American States, and the Council for Mutual Economic Assistance.

The (створення) of international organizations on a wide scale in the 20th-century is the result of the progress in the technology of communication, transportation, (прийоми ведення війни), and the spread of industrialization. These (фактори) gave rise to a sense of (взаємозалежності) among the (народів світу), and made people (усвідомлювати) the importance of (міжнародного співробітництва) to avoid the dangers, solve the problems, and use the opportunities which confront the society of nations (у світовому масштабі). Some organizations are concerned only with single and relatively narrow problems, while others, such as the United Nations and the UNESCO, deal with a great variety of matters. Moreover, international organizations function as either (міжурядові чи неурядові) agencies.

1. Retell the text.
2. Give the summary of the text

Дата добавления: 2015-11-14