Emergence of Mncs and How the Policies of Igos Have Helped in Reducing Corporate Harm?

Emergence of MNCs and how the policies of IGOs have helped in reducing corporate harm?

In twenty- first century, we are living in a world of globalization, where communication and traveling can be faster than our imagination. The economic interdependence and attractive opportunities for global market have enabled business to do in all the continents 24 hours a day. The FDI has opened the doors of immense opportunities for developing countries. The legal and regulatory framework, working conditions and culture of the country have created many challenges for corporations, governments and societies. These challenges have caught the eye ball of all activists and created some apprehension in current years too. The revealing facts of human rights exploitation, employing child labor and tragedies like Bhopal Gas have raised concern for corporate social rights and better governance. Therefore stories like Royal Dutch/Shell in Nigeria to British Petroleum in Colombia cannot be repeated. Business can play like panacea for peace and protection for human rights in all the conflict prone areas. The TNCs are engaged with developing world and dealing with the world’s poor. They affect all spheres of life and sectors like agriculture, forestry, fishing, foodstuffs, mining and manufacturing. So their growing power and mobility of corporation should be well regulated and legally bonded so that this world can stay in peace and harmony.


Methodology
In this essay I will explore the emergence and growth of MNCs and their structural and agency power. The mid section will throw light on corporate harm and its reason. The last section of my essay will examine the role of IGOs in reducing corporate harm in present scenario.

Emergence and Growth of MNCs

Flow of people, trade and capital is not a new phenomenon rather it started in ancient period only. According to Moore and Lewis (1999), international trade began to develop in the Near East 3500BC. As per their findings, first...