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'The Impact of Multinational companies on our daily life'
Multinational companies (MNCs) are those companies which establish in a particular country and produce such goods and services with the objective to get profit. They hampered the functioning of the economic, social and cultural sectors. These companies competed with each other in order to gain control of the resources of the third world countries. Multinational companies set up their base in developing nations. The various examples of the multinational corporations are – Nokia, Dominos, McDonald's, Pepsi, Kellogg, Pampers, Nescafe, Coca-Cola, Gillette, Microsoft, etc.
There are various impacts of the MNCs on our daily life. First and the foremost, the establishment of the MNCs increased the employment opportunities for the young generation and it led to the development of the social and economic condition of the people. It helped to circulate the products of the developed nations into the developing nations. Multinational companies played an important role in globalization. MNCs increase the knowledge and experience of the people by training them and developing their skills. They encourage competition among the local companies so that they could improve their own goods and services. Due to the increasing development of the MNCs and various marketing strategies, the economy of the many countries falls down. They move from one country to another based on their requirements. They want cheap labour which leads to the potential abuse of the workers. They dominate the market of the developing nations which pose a threat to local businesses.
Thus, MNCs has both positive and negative impact as on one side it provides job opportunities to the people which leads to their exploitation. It is important to create proper rules and regulations for stopping MNCs from exploiting the economic wealth of the developing nations.
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