You should spend about 40 minutes on this task.
The Spread of multinational companies and the resulting increase of globalization produce positive effects for everyone. To what extent do you agree or disagree?
Give reasons for your answer and include any relevant examples from your own knowledge or experience.
You should write at least 250 words.
It is argued that the popularity of multinational companies and the resultant expansion of globalization can bring out positive effects to everyone. I feel it would be advantageous to most people, but not everyone.
The prime reason why I think it benefits a multitude of people is because of the fact that it renders quality and competent service to the beneficiaries. To be precise, there are numerous challenges ahead of a company to get its label as ‘multinational’, and the foremost among them is perfection. Whether it is a product or service, a multinational company has to ensure its customers superior quality. Customers, on the other hand have the privilege to choose from a range of options.
Another reason why I favor this trend is because it boosts the economic development of a country. This is done by means of creating a number of employment opportunities, which are generally from the local population. Besides this, these companies relieve the economic stagnation of a nation by promoting commercial activities with innovative strategies in the market. Periodic changes in the trends and fashion, introduction of technologically advanced gadgets are some of few other benefits the spread of these companies can bring out.
Nevertheless, the trend does not appear to be advantageous for all. The first among the criticisms is the shrinkage of local businesses, when they find it difficult to compete with these giants whether in case of quality or price. Secondly, established multinational companies can create an artificial monopolistic market, when they become the sole seller of a product or service. The monopoly of Coca-Cola is just an example for this.
To conclude, when multinational companies mark their presence in an extended radius and thereby trigger the growth of globalization, positive effects are mostly visible. However, it has a dark side too.