The Growth of the Global Economy Essay

The Growth of the Global Economy Essay

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Introduction

1 The Growth of the Global Economy

1.1 Globalization
1.2 The role of Technology

2 The Nature and Purpose of the Nation State

2.1 Ways in which the Nation State can achieve its Objectives
2.2 Examples of Successful and Failed states

3 The Nature and Purpose of the TNC

3.1 How specifically a TNC combines aspects of global, Multinational and International companies

4 The Relationship between the state and the TNC

4.1 Conflicting and Complementary Objectives
4.2 Ways in which the state/TNC each seek to achieve their objectives
4.3 The impacts of Globalization on the State and the TNC
4.4 Examples of the tensions between the State and the TNC

5 Influences affecting the actions of the State and the TNC

5.1 Role of Global institutions
5.2 Role of C.S.O’s
5.3 The growing significance of Corporate Social ResponsibilitY

6 Conclusion




Introduction


This assessment is done to critically assess the changing relationships between Trans National Corporations (TNC’s) and Nation States.

In the present world where globalization had caused major impacts on both TNC’s & Nation States which in turn had also influenced their roles, objectives, flexibility & power.


1 The Growth of the Global Economy


1.1 Globalization


The International Monetary Fund (IMF) has defined Globalization as the increasing integration of economies around the world, particularly through trade and financial flows. (IMF - 2000)

Globalization is the increasing interdependence & interconnection between nations around the world in the aspects of economy, trade, culture, technology, labour etc.

As per Peter Dicken one major characteristic of global economic growth is the increasing in...


... middle of paper ...


...hts groups & environmental protection groups also pressure both TNCs & Governments to behave more ethically & responsibly towards civil society & the environment as well.

CSR is an important agenda for TNCs if it’s properly addressed it will be beneficial for TNCs such as increase in brand image & reputation.

Ex:

Bodyshop which promotes fair trade with local producers in Africa, has earned a good image as a responsible corporate citizen.

The Deepwater Horizon oil spill damaged the reputation of BP Plc & also had to undergo legal cases & settlements.





6 Conclusion


With the world financial crisis of 2008, it is evident that both TNCs & States need to be responsible about their decisions & actions. The State has to exercise more control & power over TNCs as some of their roles & objective may not be beneficial for the society at large.

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