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DAZED AND CONFUSED: THE IMPACT OF MULTINATIONAL FIRMS ON LOCAL LABOR MARKETS
The rise of globalization, understood as the fast cultural, economy and institutional integration between countries furthered by the development of the Euromarkets and the Petrodollars gave prominence to the MNCs as protagonist actors in the international scenario [1]. Acquiring scale economy and acting globally, those companies
In this high-speed globalization era, the opportunities for multinational companies (MNCs) have become vast. In such situation, these companies can obtain maximum profit only if they know how to use workforce properly. This paper aims at analyzing how these MNCs can use international workforce without violating ethics, universal labor rights, and human resource rules. For this purpose, two most favored countries i.e., China and Indonesia have been taken and compared throughout the paper. The first part of this paper deals with the introduction of the profile of above mentioned two countries and opportunities to the MNCs. The second part deals with the roles of institutions in dealing with labor workforce. The third part indicates divergent paths and the convergence of the globalization with its impact over host countries. The final part concludes the entire discussion in a few paragraphs. The entire paper has been developed keeping the scholarly work, journal articles and critical analysis factor under consideration.
Keywords:
Multinational companies
Labor
Human resource management
Industrial relation
1. Introduction