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106-532: The Coalition was founded in May 1993 with original members including IBM , Hewlett-Packard , Fujitsu , ICL , Staffware and approximately 300 software and services firms in the business software sector. Over its history, the WfMC had four chairpersons: The WfMC regarded its work as complete as of 2019 and is now accordingly disbanded, while all WfMC-supported awards are now closed. The successful conclusion of its work

212-566: A holding company of manufacturers of record-keeping and measuring systems. It was renamed "International Business Machines" in 1924 and soon became the leading manufacturer of punch-card tabulating systems . During the 1960s and 1970s, the IBM mainframe , exemplified by the System/360 , was the world's dominant computing platform , with the company producing 80 percent of computers in the U.S. and 70 percent of computers worldwide. IBM debuted in

318-575: A neuromorphic CMOS integrated circuit and announced a $ 3 billion investment over the following five years to design a neural chip that mimics the human brain, with 10 billion neurons and 100 trillion synapses, but that uses just 1 kilowatt of power. In 2016, the company launched all-flash arrays designed for small and midsized companies, which includes software for data compression, provisioning, and snapshots across various systems. In January 2019, IBM introduced its first commercial quantum computer: IBM Q System One . In March 2020, it

424-649: A Hollerith department called Hollerith Abteilung, which had IBM machines, including calculating and sorting machines. IBM as a military contractor produced 6% of the M1 Carbine rifles used in World War II, about 346,500 of them, between August 1943 and May. IBM built the Automatic Sequence Controlled Calculator , an electromechanical computer, during World War II. It offered its first commercial stored-program computer,

530-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

636-515: A company or group should be considered a multi-national corporation "if it derives 25% or more of its revenue from out-of-home-country operations". Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were

742-581: A consequence, IBM quickly began losing its market dominance to emerging competitors in the PC market. In 1985, IBM collaborated with Microsoft to develop a new operating system , which was released as OS/2 . Following a dispute, Microsoft severed the collaboration and IBM continued development of OS/2 on its own but it failed in the marketplace against Microsoft's Windows during the mid-1990s. In 1991 IBM began spinning off its many divisions into autonomous subsidiaries (so-called "Baby Blues") in an attempt to make

848-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

954-677: A fifth company, the Computing-Tabulating-Recording Company (CTR) based in Endicott, New York. The five companies had 1,300 employees and offices and plants in Endicott and Binghamton , New York; Dayton, Ohio ; Detroit, Michigan ; Washington, D.C. ; and Toronto , Canada. Collectively, the companies manufactured a wide array of machinery for sale and lease, ranging from commercial scales and industrial time recorders, meat and cheese slicers, to tabulators and punched cards. Thomas J. Watson, Sr. , fired from

1060-447: A focus on customer service, an insistence on well-groomed, dark-suited salesmen and had an evangelical fervor for instilling company pride and loyalty in every worker". His favorite slogan, " THINK ", became a mantra for each company's employees. During Watson's first four years, revenues reached $ 9 million ($ 158 million today) and the company's operations expanded to Europe, South America, Asia and Australia. Watson never liked

1166-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

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1272-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1378-407: A process definition, developed by the WfMC. The goal of XPDL is to store and exchange the process diagram, allowing one tool to model a process diagram, another to read the diagram and edit, yet another to "run" the process model on an XPDL-compliant BPM engine, and so on. It is not a compiled executable programming language like BPEL , but specifically a process design format that literally represents

1484-626: A separate lawsuit. In 2015, IBM bought the digital part of The Weather Company , Truven Health Analytics for $ 2.6 billion in 2016, and in October 2018, IBM announced its intention to acquire Red Hat for $ 34 billion, which was completed on July 9, 2019. In February 2020, IBM's John Kelly III joined Brad Smith of Microsoft to sign a pledge with the Vatican to ensure the ethical use and practice of Artificial Intelligence (AI) . IBM announced in October 2020 that it would divest

1590-485: A service that lasts a long time, and also being programmable by being able to install process definitions. The Workflow Management Coalition sponsored three annual award programs: IBM International Business Machines Corporation (using the trademark IBM ), nicknamed Big Blue , is an American multinational technology company headquartered in Armonk, New York and present in over 175 countries. It

1696-480: A sharp drop in profit margins during the second quarter of fiscal year 1992; market analysts attributed the drop to a fierce price war in the personal computer market over the summer of 1992. The corporate restructuring was one of the largest and most expensive in history up to that point. By the summer of 1993, the IBM PC Co. had divided into multiple business units itself, including Ambra Computer Corporation and

1802-412: A standardised set of interfaces and data interchange formats between such components is necessary. A number of distinct interoperability scenarios can then be constructed by reference to such interfaces, identifying different levels of functional conformance as appropriate to the range of products in the market. Other WfMC standards make reference to this model. XPDL is an XML based language for describing

1908-427: A standardized way that a program can start and monitor a program that might take a long time to complete. It provides the capability to monitor the running service, and be informed of changes in its status. Wf-XML extends this by providing additional standard web service operations that allow sending and retrieving the “program” or definition of the service which is provided. A process engine has this behavior of providing

2014-507: Is a publicly traded company and one of the 30 companies in the Dow Jones Industrial Average . IBM is the largest industrial research organization in the world, with 19 research facilities across a dozen countries, having held the record for most annual U.S. patents generated by a business for 29 consecutive years from 1993 to 2021. IBM was founded in 1911 as the Computing-Tabulating-Recording Company (CTR),

2120-421: Is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC to distinguish it from international portfolio investment organizations , such as some international mutual funds that invest in corporations abroad solely to diversify financial risks. Black's Law Dictionary suggests that

2226-561: Is meant to support both pre-execution and post-execution optimization of said process models. The BPSim specification consists of an underlying computer-interpretable representation (meta-model) and an accompanying electronic file format to ease the safeguard and transfer of this data between different tools (interchange format). Wf-XML is designed and implemented as an extension to the OASIS Asynchronous Service Access Protocol (ASAP). ASAP provides

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2332-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

2438-494: Is reflected in numerous frameworks, standards and languages in the workflow and business process space. Since its founding, the use of XML has become more widespread. The Coalition's focus was principally around the process definition file interchange, using the standard XML Process Definition Language (XPDL) . The Workflow Reference Model was published first in 1995 and still forms the basis of most business process management (BPM) and workflow software systems in use today. It

2544-440: Is the largest shareholder of IBM and as of March 31, 2023, held 15.7% of total shares outstanding. In 2011, IBM became the first technology company Warren Buffett 's holding company Berkshire Hathaway invested in. Initially he bought 64 million shares costing $ 10.5 billion. Over the years, Buffett increased his IBM holdings, but by the end of 2017 had reduced them by 94.5% to 2.05 million shares; by May 2018, he

2650-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

2756-980: The British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

2862-574: The FORTRAN scientific programming language was developed. In 1961, IBM developed the SABRE reservation system for American Airlines and introduced the highly successful Selectric typewriter. In 1963, IBM employees and computers helped NASA track the orbital flights of the Mercury astronauts. A year later, it moved its corporate headquarters from New York City to Armonk, New York. The latter half of

2968-851: The IBM Rome Software Lab (Rome, Italy), Hursley House (Winchester, UK), 330 North Wabash (Chicago, Illinois, United States), the Cambridge Scientific Center (Cambridge, Massachusetts, United States), the IBM Toronto Software Lab (Toronto, Canada), the IBM Building, Johannesburg (Johannesburg, South Africa), the IBM Building (Seattle) (Seattle, Washington, United States), the IBM Hakozaki Facility (Tokyo, Japan),

3074-888: The IBM Yamato Facility (Yamato, Japan), the IBM Canada Head Office Building (Ontario, Canada) and the Watson IoT Headquarters (Munich, Germany). Defunct IBM campuses include the IBM Somers Office Complex (Somers, New York), Spango Valley (Greenock, Scotland), and Tour Descartes (Paris, France). The company's contributions to industrial architecture and design include works by Marcel Breuer , Eero Saarinen , Ludwig Mies van der Rohe , I.M. Pei and Ricardo Legorreta . Van der Rohe's building in Chicago

3180-544: The National Cash Register Company by John Henry Patterson , called on Flint and, in 1914, was offered a position at CTR. Watson joined CTR as general manager and then, 11 months later, was made President when antitrust cases relating to his time at NCR were resolved. Having learned Patterson's pioneering business practices, Watson proceeded to put the stamp of NCR onto CTR's companies. He implemented sales conventions, "generous sales incentives,

3286-448: The UPC barcode . The company has made inroads in advanced computer chips , quantum computing , artificial intelligence , and data infrastructure . IBM employees and alumni have won various recognitions for their scientific research and inventions, including six Nobel Prizes and six Turing Awards . IBM originated with several technological innovations developed and commercialized in

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3392-681: The Universal Product Code . IBM and the World Bank first introduced financial swaps to the public in 1981, when they entered into a swap agreement. IBM entered the microcomputer market in the 1980s with the IBM Personal Computer (IBM 5150), which soon became known as the PC , one of IBM's best selling products. Due to a lack of foresight by IBM, the PC was not well protected by intellectual property laws. As

3498-410: The magnetic stripe card that would become ubiquitous for credit/debit/ATM cards, driver's licenses, rapid transit cards and a multitude of other identity and access control applications. IBM pioneered the manufacture of these cards, and for most of the 1970s, the data processing systems and software for such applications ran exclusively on IBM computers. In 1974, IBM engineer George J. Laurer developed

3604-606: The microcomputer market in 1981 with the IBM Personal Computer , — its DOS software provided by Microsoft , — which became the basis for the majority of personal computers to the present day. The company later also found success in the portable space with the ThinkPad . Since the 1990s, IBM has concentrated on computer services , software , supercomputers , and scientific research ; it sold its microcomputer division to Lenovo in 2005. IBM continues to develop mainframes, and its supercomputers have consistently ranked among

3710-480: The "drawing" of the process definition process syntax of business process models, as well as extended product attributes. Thus it has ‘XY' or vector coordinates, including lines and points that define process flows. This allows an XPDL to store a one-to-one representation of a BPMN process diagram. For this reason, XPDL is effectively the file format or "serialization" of BPMN , as well as any non-BPMN design method or process models which use in their underlying definition

3816-577: The 1960s saw IBM continue its support of space exploration, participating in the 1965 Gemini flights, 1966 Saturn flights, and 1969 lunar mission. IBM also developed and manufactured the Saturn V's Instrument Unit and Apollo spacecraft guidance computers. On April 7, 1964, IBM launched the first computer system family, the IBM System/360 . It spanned the complete range of commercial and scientific applications from large to small, allowing companies for

3922-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

4028-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

4134-490: The IBM PC Co. was dissolved and merged into IBM Personal Systems Group. In 2002 IBM acquired PwC Consulting, the consulting arm of PwC which was merged into its IBM Global Services . On September 14, 2004, LG and IBM announced that their business alliance in the South Korean market would end at the end of that year. Both companies stated that it was unrelated to the charges of bribery earlier that year. Xnote

4240-506: The IBM Power Personal Systems Group, the former an attempt to design and market " clone " computers of IBM's own architecture and the latter responsible for IBM's PowerPC -based workstations . IBM PC Co. introduced the ThinkPad clone computers, which IBM would heavily market and would eventually become one of the best-selling series of notebook computers . In 1993, IBM posted an $ 8 billion loss – at

4346-789: The IBM website. On June 7, Krishna announced that IBM would carry out an "orderly wind-down" of its operations in Russia. In late 2022, IBM started a collaboration with new Japanese manufacturer Rapidus , which led GlobalFoundries to file a lawsuit against IBM the following year. In 2023, IBM acquired Manta Software Inc. to complement its data and A.I. governance capabilities for an undisclosed amount. On November 16, 2023, IBM suspended ads on Twitter after ads were found next to pro-Nazi content. In December 2023, IBM announced it would acquire Software AG 's StreamSets and webMethods platforms for €2.13 billion ($ 2.33 billion). IBM's market capitalization

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4452-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

4558-551: The Managed Infrastructure Services unit of its Global Technology Services division into a new public company. The new company, Kyndryl , will have 90,000 employees, 4,600 clients in 115 countries, with a backlog of $ 60 billion. IBM's spin off was greater than any of its previous divestitures, and welcomed by investors. IBM appointed Martin Schroeter, who had been IBM's CFO from 2014 through

4664-574: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

4770-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

4876-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

4982-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

5088-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

5194-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

5300-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

5406-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

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5512-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

5618-766: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

5724-516: The Weather Channel mobile app. Also that year, IBM employees created the film A Boy and His Atom , which was the first molecule movie to tell a story. In 2016, IBM acquired video conferencing service Ustream and formed a new cloud video unit. In April 2016, it posted a 14-year low in quarterly sales. The following month, Groupon sued IBM accusing it of patent infringement, two months after IBM accused Groupon of patent infringement in

5830-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

5936-515: The XPDL meta-model . There are presently about 60 tools which use XPDL for storing process models. The Business Process Simulation framework is a standardized specification that allows business process models captured in either BPMN or XPDL to be augmented with information in support of rigorous methods of analysis. It defines the parameterization and interchange of process analysis data allowing structural and capacity analysis of process models. BPSim

6042-469: The antitrust laws in IBM's actions directed against leasing companies and plug-compatible peripheral manufacturers. Shortly after, IBM unbundled its software and services in what many observers believed was a direct result of the lawsuit, creating a competitive market for software. In 1982, the Department of Justice dropped the case as "without merit". Also in 1969, IBM engineer Forrest Parry invented

6148-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

6254-601: The city's seventh tallest building and overlooking Beijing National Stadium ("Bird's Nest") , home to the 2008 Summer Olympics . IBM India Private Limited is the Indian subsidiary of IBM, which is headquartered at Bangalore , Karnataka. It has facilities in Coimbatore , Chennai , Kochi , Ahmedabad , Delhi , Kolkata , Mumbai , Pune , Gurugram , Noida , Bhubaneshwar , Surat , Visakhapatnam , Hyderabad , Bangalore and Jamshedpur . Other notable buildings include

6360-560: The clumsy hyphenated name "Computing-Tabulating-Recording Company" and chose to replace it with the more expansive title "International Business Machines" which had previously been used as the name of CTR's Canadian Division; the name was changed on February 14, 1924. By 1933, most of the subsidiaries had been merged into one company, IBM. The Nazis made extensive use of Hollerith punch card and alphabetical accounting equipment and IBM's majority-owned German subsidiary, Deutsche Hollerith Maschinen GmbH ( Dehomag ), supplied this equipment from

6466-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

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6572-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

6678-461: The company designed a video surveillance system for Davao City . In 2014 IBM announced it would sell its x86 server division to Lenovo for $ 2.1 billion. while continuing to offer Power ISA -based servers. Also that year, IBM began announcing several major partnerships with other companies, including Apple Inc. , Twitter, Facebook, Tencent , Cisco , UnderArmour , Box , Microsoft , VMware , CSC , Macy's , Sesame Workshop ,

6784-421: The company more manageable and to streamline IBM by having other investors finance those companies. These included AdStar , dedicated to disk drives and other data storage products; IBM Application Business Systems, dedicated to mid-range computers; IBM Enterprise Systems, dedicated to mainframes; Pennant Systems, dedicated to mid-range and large printers; Lexmark , dedicated to small printers; and more. Lexmark

6890-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

6996-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

7102-475: The early 1930s. This equipment was critical to Nazi efforts to categorize citizens of both Germany and other nations that fell under Nazi control through ongoing censuses. These census data were used to facilitate the round-up of Jews and other targeted groups, and to catalog their movements through the machinery of the Holocaust , including internment in the concentration camps. Nazi concentration camps operated

7208-553: The end of 2017, as CEO of Kyndryl. In 2021, IBM announced the acquisition of the enterprise software company Turbonomic for $ 1.5 billion. In January 2022, IBM announced it would sell Watson Health to private equity firm Francisco Partners . On March 7, 2022, a few days after the start of the Russian invasion of Ukraine , IBM CEO Arvind Krishna published a Ukrainian flag and announced that "we have suspended all business in Russia". All Russian articles were also removed from

7314-445: The enterprise-oriented Personal Systems Group of the IBM PC Co. into IBM's own Global Services personal computer consulting and customer service division. The resulting merged business units then became known simply as IBM Personal Systems Group. A year later, IBM stopped selling their computers at retail outlets after their market share in this sector had fallen considerably behind competitors Compaq and Dell . Immediately afterwards,

7420-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

7526-492: The first time to upgrade to models with greater computing capability without having to rewrite their applications. It was followed by the IBM System/370 in 1970. Together the 360 and 370 made the IBM mainframe the dominant mainframe computer and the dominant computing platform in the industry throughout this period and into the early 1980s. They and the operating systems that ran on them such as OS/VS1 and MVS , and

7632-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

7738-521: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

7844-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

7950-686: The larger ones. In New York City, IBM has several offices besides CHQ, including the IBM Watson headquarters at Astor Place in Manhattan. Outside of New York, major campuses in the United States include Austin, Texas ; Research Triangle Park (Raleigh-Durham), North Carolina ; Rochester, Minnesota ; and Silicon Valley, California . IBM's real estate holdings are varied and globally diverse. Towers occupied by IBM include 1250 René-Lévesque (Montreal, Canada) and One Atlantic Center (Atlanta, Georgia, US). In Beijing, China, IBM occupies Pangu Plaza ,

8056-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

8162-570: The late 19th century. Julius E. Pitrap patented the computing scale in 1885; Alexander Dey invented the dial recorder (1888); Herman Hollerith patented the Electric Tabulating Machine (1889); and Willard Bundy invented a time clock to record workers' arrival and departure times on a paper tape (1889). On June 16, 1911, their four companies were amalgamated in New York State by Charles Ranlett Flint forming

8268-451: The latest being the IBM z series. The most recent model, the IBM z16 , was released in 2022. In 1990, IBM released the Power microprocessors , which were designed into many console gaming systems, including Xbox 360 , PlayStation 3 , and Nintendo 's Wii U . IBM Secure Blue is encryption hardware that can be built into microprocessors, and in 2014, the company revealed TrueNorth ,

8374-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

8480-425: The longer term. The key trends of IBM are (as at the financial year ending December 31): The company's 15-member board of directors are responsible for overall corporate management and includes the current or former CEOs of Anthem , Dow Chemical , Johnson and Johnson , Royal Dutch Shell , UPS , and Vanguard as well as the president of Cornell University and a retired U.S. Navy admiral . Vanguard Group

8586-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

8692-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

8798-585: The mid-1950s. There are two other IBM buildings within walking distance of CHQ: the North Castle office, which previously served as IBM's headquarters; and the Louis V. Gerstner, Jr., Center for Learning (formerly known as IBM Learning Center (ILC)), a resort hotel and training center, which has 182 guest rooms, 31 meeting rooms, and various amenities. IBM operates in 174 countries as of 2016 , with mobility centers in smaller market areas and major campuses in

8904-613: The middleware built on top of those such as the CICS transaction processing monitor, had a near-monopoly-level market share and became the thing IBM was most known for during this period. In 1969, the United States of America alleged that IBM violated the Sherman Antitrust Act by monopolizing or attempting to monopolize the general-purpose electronic digital computer system market, specifically computers designed primarily for business, and subsequently alleged that IBM violated

9010-450: The most powerful in the world in the 21st century. As one of the world's oldest and largest technology companies, IBM has been responsible for several technological innovations , including the automated teller machine (ATM), dynamic random-access memory (DRAM), the floppy disk , the hard disk drive , the magnetic stripe card , the relational database , the SQL programming language , and

9116-400: The parent company of Sesame Street , and Salesforce.com . In 2015, its chip division transitioned to a fabless model with semiconductors design, offloading manufacturing to GlobalFoundries . In 2015, IBM announced three major acquisitions: Merge Healthcare for $ 1 billion, data storage vendor Cleversafe , and all digital assets from The Weather Company , including Weather.com and

9222-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

9328-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

9434-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

9540-543: The time the biggest in American corporate history. Lou Gerstner was hired as CEO from RJR Nabisco to turn the company around. In 1995, IBM purchased Lotus Software , best known for its Lotus 1-2-3 spreadsheet software. During the decade, IBM was working on a new operating system, named the Workplace OS project. Despite a large amount of money spent on the project, it was cancelled in 1996. In 1998, IBM merged

9646-608: The vacuum tube based IBM 701 , in 1952. The IBM 305 RAMAC introduced the hard disk drive in 1956. The company switched to transistorized designs with the 7000 and 1400 series, beginning in 1958. In which, IBM considered the 1400 series the ''model T'' of computing, due to it being the first computer with over ten thousand sales by IBM. In 1956, the company demonstrated the first practical example of artificial intelligence when Arthur L. Samuel of IBM's Poughkeepsie , New York, laboratory programmed an IBM 704 not merely to play checkers but "learn" from its own experience. In 1957,

9752-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

9858-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

9964-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

10070-488: Was acquired by Clayton & Dubilier in a leveraged buyout shortly after its formation. In September 1992, IBM completed the spin-off of their various non-mainframe and non-midrange, personal computer manufacturing divisions, combining them into an autonomous wholly owned subsidiary known as the IBM Personal Computer Company (IBM PC Co.). This corporate restructuring came after IBM reported

10176-606: Was announced that IBM will build Europe's first quantum computer in Ehningen, Germany . The center, to be operated by the Fraunhofer Society , was still in construction as of 2023, with cloud access planned in 2024. Multinational corporation A multi-national corporation ( MNC ; also called a multi-national enterprise ( MNE ), trans-national enterprise ( TNE ), trans-national corporation ( TNC ), international corporation , or state less corporation , )

10282-400: Was completely out of IBM. IBM is headquartered in Armonk, New York , a community 37 miles (60 km) north of Midtown Manhattan. A nickname for the company is the " Colossus of Armonk ". Its principal building, referred to as CHQ, is a 283,000-square-foot (26,300 m ) glass and stone edifice on a 25-acre (10 ha) parcel amid a 432-acre former apple orchard the company purchased in

10388-422: Was developed from the generic workflow application structure by identifying the interfaces which enable products to interoperate at a variety of levels. All workflow systems contain a number of generic components which interact in a defined set of ways; different products will typically exhibit different levels of capability within each of these generic components. To achieve interoperability between workflow products

10494-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

10600-400: Was exhibited on Jeopardy! where it won against game-show champions Ken Jennings and Brad Rutter. The company also celebrated its 100th anniversary in the same year on June 16. In 2012, IBM announced it had agreed to buy Kenexa and Texas Memory Systems, and a year later it also acquired SoftLayer Technologies, a web hosting service , in a deal worth around $ 2 billion. Also that year,

10706-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

10812-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

10918-640: Was originally part of the joint venture and was sold by LG in 2012. Continuing a trend started in the 1990s of downsizing its operations and divesting from commodity production , IBM sold all of its personal computer business to Chinese technology company Lenovo and, in 2009, it acquired software company SPSS Inc. Later in 2009, IBM's Blue Gene supercomputing program was awarded the National Medal of Technology and Innovation by U.S. President Barack Obama . In 2011, IBM gained worldwide attention for its artificial intelligence program Watson , which

11024-507: Was recognized with the 1990 Honor Award from the National Building Museum . IBM has a large and diverse portfolio of products and services. As of 2016 , these offerings fall into the categories of cloud computing , artificial intelligence, commerce , data and analytics , Internet of things (IoT), IT infrastructure , mobile , digital workplace and cybersecurity . Since 1954, IBM sells mainframe computers ,

11130-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

11236-480: Was valued at over $ 153 billion as of May 2024. Despite its relative decline within the technology sector, IBM remains the seventh largest technology company by revenue, and 67th largest overall company by revenue in the United States . IBM ranked No. 38 on the 2020 Fortune 500 rankings of the largest United States corporations by total revenue. In 2014, IBM was accused of using "financial engineering" to hit its quarterly earnings targets rather than investing for

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