Globalization has led to the proliferation of multinational corporations, often at the expense of local businesses. Discuss the positive and negative impacts of this trend.
It is believed that transnational
companies
have grown under the reign of global integration and this
increase has become a costly affair for local firms
. Although
such
expansion has some positive impacts like job creation and highest salaries, it has adverse effects in terms of loss for local businesses and their survival.
To begin
with, there are numerous pros of an upsurge in international firms
due to
internationalism. Foremost, multinational companies
bring along an opportunity to create employment by recruiting local people to fill the vacancies in their newly established branches in a particular nation. For example
, Amazon, a worldwide e-commerce unit, gave 1 million jobs when they started their new outlets in Asia-Pacific countries like India, Sri Lanka et cetera. Hence
, it can be beneficial for the citizens of third-world countries to get their dream jobs in MNCs. In addition
, because big firms
have subsequent funds to run their business, they not only offer a good wage rate to their employees but they also
provide incentives and promotions.
On the contrary
, local businesses have to bear the dire consequences of this
phenomenon. Primarily, local units have to face economic losses due to
globalized companies
since they do not have enough capacity to compete with them both financially and technologically. For instance
, as per a meticulous survey of the Guardian Newspaper in March 2022 revealed that regional manufacturers had been struggling with their daily expenses since the international companies
captured their customers. Thus
, big firms
provide discounted products by using cost-effective technology, which is a threat to the existence of local units. Moreover
, where MNCs deal with multiple products and big malls, local firms
with a single local product may face identity loss issues.
To conclude
, it is unequivocal that globalization is the leading cause of the bloom of international businesses at the cost of regional firms
and this
trend has both merits and demerits as a whole.Submitted by Mrjit147 on
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Language
Consider diversifying the range of vocabulary used to describe the advantages and disadvantages of multinational corporations. This will add richness to your writing and exhibit a higher command of the language.
Structure
Ensure that each paragraph has a clear topic sentence that directly relates to the main task of discussing both the positive and negative impacts of multinational corporations. This can strengthen your coherence even further.
Structure
The essay is well-structured with a clear introduction, body paragraphs, and a conclusion.
Examples
Each main point is effectively supported by relevant examples, such as the mention of Amazon's job creation in Asia-Pacific countries.
Coherence
The use of transitional phrases helps maintain a logical flow between ideas, making the essay easy to follow.
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