The increasingly connected global landscape has resulted in the rapid spread of multinational involvements all over the world. While some people believe that this development brings merits to everyone, I suggest that this view is only partially correct.
Foreign investments not only benefit their shareholders and owners, but they also give a strong boost to the local economy and population contentment. These expansions are crucial for improving the lives of the locals by providing them better-paid jobs, welfare, skill development. For example, Samsung has constructed smartphone factories all over Vietnam, providing better job opportunities for people in the mobile production industry and improve the contentment of its workers by offering housing, allowance or scholarships for further education. This act helped Samsung reinforced their reputation as a global distributor, surpassing the local competition and made a name for foreign corporations. However, it is acknowledged that global presence can overshadow domestic development. Local businesses may lose out due to inability to adapt and attract employment, resulting in overdependence on international dominance.
Nevertheless, not all multinational entities induce positive effects for the people. Foreign investors, in order to make more profits, are finding ways to exploit the resources that aren’t abundantly available like oil, natural gas, and rare earth in many parts of the world, thus rejecting the human and environmental responsibilities in investment. For example, Shell, an oil drilling company based in the USA, is being accused of unethical business practices in Nigeria for exploiting natural oil reserves, leaving irreversible damages. This inhumane act caused widespread lives displacement, loss of biodiversity and harmed the reputation of multinational corporations as the eared profits are returned to the originating country rather than to support the host nation.
In conclusion, while international corporations introduce great advantages to the local economy and the lives of the people, inconsiderate business conducts have caused damages to the name of multinational companies. I believe that with regulations on moral business operations and human-centric involvement, a balance can be achieved and these foreign entities would begin placing human elements over profits.