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111-584: TVS Group is an Indian multinational conglomerate with its principal headquarters in Madurai and international headquarters in Chennai . It has more than 50 subsidiaries including the two-wheeler manufacturer TVS Motor Company and TVS Supply Chain Solutions . The group's subsidiaries are owned by three holding companies, viz., TVS & Sons, Sundaram Industries and TVS Holding Companies. TVS & Sons

222-517: A Crown colony . Rhodes returned to Mashonaland, further overseeing the suppression of the uprising there into 1897. The scandal attached to his name did not prevent him rejoining the board of the BSAC in 1898. He remained an MP in the Cape Parliament and a Privy Councillor. By the end of 1894, the territories over which the BSAC had concessions or treaties, collectively called "Zambesia" after

333-815: A phylloxera epidemic. The diseased vineyards were dug up and replanted, and farmers were looking for alternatives to wine. In 1892, Rhodes financed The Pioneer Fruit Growing Company at Nooitgedacht , a venture created by Harry Pickstone, an Englishman who had experience with fruit-growing in California. The shipping magnate Percy Molteno had just undertaken the first successful refrigerated export to Europe. In 1896, after consulting with Molteno, Rhodes began to pay more attention to export fruit farming and bought farms in Groot Drakenstein, Wellington and Stellenbosch. A year later, he bought Rhone and Boschendal and commissioned Sir Herbert Baker to build him

444-766: 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

555-508: 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

666-454: A cottage there. The successful operation soon expanded into Rhodes Fruit Farms , and formed a cornerstone of the modern-day Cape fruit industry. In 1873, Rhodes left his farm field in the care of his business partner, Rudd, and sailed for England to study at university. He was admitted to Oriel College, Oxford , but stayed for only one term in 1874. He returned to South Africa and did not return for his second term at Oxford until 1876. He

777-429: 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

888-784: A meeting with the remaining Ndebele chiefs. Rhodes and a few colleagues walked unarmed into the Ndebele stronghold in Matobo Hills . In a series of meetings between August and October, he persuaded the Impi to lay down their arms, thus ending the Second Matabele War. In the aftermath of the war in Matabeleland, but whilst the uprising in Mashonaland was being suppressed, Rhodes returned to London to give evidence to

999-593: A member of the Cape Parliament , the chief goal of the assembly was to help decide the future of Basutoland . The ministry of Sir Gordon Sprigg was trying to restore order after the 1880 rebellion known as the Gun War . The Sprigg ministry had precipitated the revolt by applying its policy of disarming all native Africans to those of the Basotho nation, who resisted. In 1890, Rhodes became Prime Minister of

1110-490: 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

1221-419: A mining partner with Rudd and Rhodes. On 13 March 1888, Rhodes and Rudd launched De Beers Consolidated Mines after the amalgamation of a number of individual claims. With £200,000 of capital, the company, of which Rhodes was secretary, owned the largest interest in the mine (£200,000 in 1880 = £22.5m in 2020 = $ 28.5m USD). Rhodes was named the chairman of De Beers at the company's founding in 1888. De Beers

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1332-455: A police officer to "kill all you can", even those Ndebele who begged for mercy and threw down their arms. Shortly after learning of the assassination of the Ndebele spiritual leader, Mlimo, by the American scout Frederick Russell Burnham , and after participating in the cavalry charge at one of the last pitched battles of this phase of the war, Rhodes' associate Johan Colenbrander arranged for

1443-675: A strategic partnership with the London-based Diamond Syndicate. They agreed to control world supply to maintain high prices. Rhodes supervised the working of his brother's claim and speculated on his behalf. Among his associates in the early days were John X. Merriman and Charles Rudd . Rudd later became his partner in the De Beers Mining Company and the Niger Oil Company. During the 1880s, Cape vineyards had been devastated by

1554-578: A vote. ... If the whites maintain their position as the supreme race, the day may come when we shall be thankful that we have the natives with us in their proper position." He once stated "I prefer land to niggers" and referred to the 'Anglo-Saxon race' as "the best, most human, most honourable race the world possesses". He thought that those lands which were occupied by the "most despicable specimens of human beings" should be inhabited by Anglo-Saxons. However others have disputed these views. For example, historian Raymond C. Mensing notes that Rhodes has

1665-467: Is James Rhodes ( fl. 1660) of Snape Green, Whitmore, Staffordshire . Cecil's siblings included Frank Rhodes , a British Army officer. Rhodes attended the Bishop's Stortford Grammar School from the age of nine, but, as a sickly, asthmatic adolescent, he was taken out of grammar school in 1869 and, according to Basil Williams , "continued his studies under his father's eye ..." At age seven, he

1776-585: Is a matter of debate to this day. Critics cite his confiscation of land from the black indigenous population of the Cape Colony , and false claims that southern African archeological sites such as Great Zimbabwe were built by European civilisations. Rhodes was born in 1853 in Bishop's Stortford , Hertfordshire, England, the fifth son of the Reverend Francis William Rhodes (1807–1878) and his wife, Louisa Peacock. Francis

1887-410: 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

1998-829: Is said that he wanted to develop an American elite of philosopher-kings who would have the United States rejoin the British Empire. As Rhodes also respected and admired the Germans and their Kaiser , he allowed German students to be included in the Rhodes scholarships. He believed that eventually the United Kingdom (including Ireland), the US, and Germany together would dominate the world and ensure perpetual peace. Rhodes's views on race have been debated; he supported

2109-552: Is the parent company of the group. The three holding companies of the subsidiaries are: TVS Group's ten listed subsidiaries are: TVS Group's unlisted subsidiaries include: The T. V. S. family is an Indian business family, based in Chennai , India. The TVS Group has its principal headquarters in Madurai and international headquarters in Chennai. It has more than 50 subsidiaries across sectors. T. V. Sundram Iyengar founded

2220-513: Is to be treated as a child and denied the franchise. We must adopt a system of despotism, such as works in India, in our relations with the barbarism of South Africa". Rhodes advocated the governance of indigenous Africans living in the Cape Colony "in a state of barbarism and communal tenure" as "a subject race. I do not go so far as the member for Victoria West, who would not give the black man

2331-865: 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

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2442-625: The British South Africa Police , which was used to control Matabeleland and Mashonaland , in present-day Zimbabwe . The company had hoped to start a "new Rand " from the ancient gold mines of the Shona . Because gold deposits weren't as plentiful as they had hoped, many of the white settlers who accompanied the BSAC to Mashonaland became farmers rather than miners. White settlers and their locally-employed Native Police engaged in widespread indiscriminate rape of Ndebele women in

2553-796: 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

2664-636: The East African Arab-Swahili slave trade . Rhodes paid much of the cost so that the British Central Africa Commissioner Sir Harry Johnston , and his successor Alfred Sharpe , would assist with security for Rhodes in the BSAC's north-eastern territories. Johnston shared Rhodes's expansionist views, but he and his successors were not as pro-settler as Rhodes, and disagreed on dealings with Africans. The BSAC had its own police force,

2775-555: The Glen Grey Act of 1894, Rhodes further disenfranchised the black population. To quote Richard Dowden , most would now "find it almost impossible to get back on the list because of the legal limit on the amount of land they could hold". In addition, Rhodes was an early architect of the Natives Land Act, 1913 , which would limit the areas of the country where black Africans were allowed to settle to less than 10%. At

2886-609: The Zambezi River flowing through the middle, comprised an area of 1,143,000 km between the Limpopo River and Lake Tanganyika . In May 1895, its name was officially changed to "Rhodesia", reflecting Rhodes's popularity among settlers who had been using the name informally since 1891. The designation Southern Rhodesia was officially adopted in 1898 for the part south of the Zambezi, which later became Zimbabwe; and

2997-670: 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

3108-489: The 21st century. Rhodes entered the Cape Parliament at the age of 27 in 1881, and in 1890, he became prime minister. During his time as prime minister, Rhodes used his political power to expropriate land from black Africans through the Glen Grey Act , while also tripling the wealth requirement for voting under the Franchise and Ballot Act , effectively barring black people from taking part in elections. After overseeing

3219-557: The BSAC administration, who asked that the firing party should not discharge their rifles as this would disturb the spirits. Then, for the first time, they gave a white man the Matabele royal salute, Bayete. Rhodes is buried alongside Leander Starr Jameson and 34 British soldiers killed in the Shangani Patrol . Despite occasional efforts to return his body to the United Kingdom, his grave remains there still, "part and parcel of

3330-487: The BSAC charter. But three Tswana kings, including Khama III , travelled to Britain and won over British public opinion for it to remain governed by the British Colonial Office in London. Rhodes commented: "It is humiliating to be utterly beaten by these niggers." The British Colonial Office also decided to administer British Central Africa owing to the activism of David Livingstone trying to end

3441-403: The Cape Colony. He introduced various Acts of Parliament to push black people from their lands and make way for industrial development. Rhodes's view was that black people needed to be driven off their land to "stimulate them to labour" and to change their habits. "It must be brought home to them", Rhodes said, "that in future nine-tenths of them will have to spend their lives in manual labour, and

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3552-603: The Colonies Joseph Chamberlain . The raid was a catastrophic failure. It forced Cecil Rhodes to resign as Prime Minister of the Cape Colony, sent his oldest brother Col. Frank Rhodes to jail in Transvaal convicted of high treason and nearly sentenced to death, and contributed to the outbreak of the Second Boer War . In 1899, Rhodes was sued by a man named Burrows for falsely representing

3663-551: 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

3774-472: The English, "I contend that we are the first race in the world, and that the more of the world we inhabit the better it is for the human race. I contend that every acre added to our territory means the birth of more of the English race who otherwise would not be brought into existence." Rhodes bemoaned that there was little land left to conquer and said "to think of these stars that you see overhead at night, these vast worlds which we can never reach. I would annex

3885-575: 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

3996-511: 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

4107-558: 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,

4218-722: The Rudd Concession, in 1889 Rhodes obtained a charter from the British Government for his British South Africa Company (BSAC) to rule, police, and make new treaties and concessions from the Limpopo River to the great lakes of Central Africa. He obtained further concessions and treaties north of the Zambezi , such as those in Barotseland (the Lochner Concession with King Lewanika in 1890, which

4329-674: The Rudd and Lochner Concessions. Rhodes had already tried and failed to get a mining concession from Lobengula , King of the Ndebele of Matabeleland . In 1888 he tried again. He sent John Smith Moffat , son of the missionary Robert Moffat , who was trusted by Lobengula, to persuade the latter to sign a treaty of friendship with Britain, and to look favourably on Rhodes's proposals. His associate Charles Rudd, together with Francis Thompson and Rochfort Maguire, assured Lobengula that no more than ten white men would mine in Matabeleland. This limitation

4440-514: The TVS group. Sundram Iyengar and Lakshmi Ammal had eight children – five sons and three daughters. The five sons all joined the family business. The eldest son – T. S. Doraisamy died in 1943 and the other four sons – T. S. Rajam, T. S. Santhanam, T. S. Srinivasan and T. S. Krishna continued to run different businesses. Of the daughters, Dr. T. S. Soundram was a physician, social reformer and politician. Multinational corporation Most of

4551-464: 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

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4662-636: 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

4773-816: The UK House of Commons Select Committee of Enquiry into the Jameson Raid. As Rhodes had incriminating telegrams demonstrating the complicity and foreknowledge of the Raid by Joseph Chamberlain, the Colonial Secretary, he and his solicitor were able to blackmail Chamberlain into retaining the BSAC Charter, leaving the Company in charge of administering the territory north of the Limpopo even as it became

4884-541: 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

4995-506: 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

5106-614: 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

5217-461: 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

5328-629: 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

5439-766: 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

5550-507: 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

5661-469: 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 ,

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5772-742: 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

5883-644: The coming years through what has been described as a " suppressio veri  ... which must be regarded as one of Rhodes's least creditable actions". Contrary to what the British government and the public had been allowed to think, the Rudd Concession was not vested in the British South Africa Company , but in a short-lived ancillary concern of Rhodes, Rudd and a few others called the Central Search Association , which

5994-604: 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

6105-510: 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

6216-452: The cost of administering the territories to the north of South Africa against his future mining profits. The Colonial Office did not have enough funding for this. Rhodes promoted his business interests as in the strategic interest of Britain: preventing the Portuguese , the Germans or the Boers from moving into south-central Africa. Rhodes's companies and agents cemented these advantages by obtaining many mining concessions, as exemplified by

6327-643: 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

6438-408: 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 the British East India Company founded in 1600 and

6549-428: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Cecil Rhodes Cecil John Rhodes ( / ˈ s ɛ s əl ˈ r oʊ d z / SES -əl ROHDZ ; 5 July 1853 – 26 March 1902) was an English mining magnate and politician in southern Africa who served as Prime Minister of the Cape Colony from 1890 to 1896. He and his British South Africa Company founded

6660-447: The designations North-Western and North-Eastern Rhodesia were used from 1895 for the territory which later became Northern Rhodesia , then Zambia . He built a house for himself in 1897 in Bulawayo. Rhodes decreed in his will that he was to be buried in Matopos Hills (now Matobo Hills). After his death in the Cape in 1902, his body was transported by train to Bulawayo . His burial was attended by Ndebele chiefs, now paid agents of

6771-488: The early 1890s. The Ndebele and the Shona —the two main, but rival, peoples—took advantage of the absence of most of the BSAP for the Jameson Raid in January 1896; they separately rebelled against the coming of the European settlers, and the BSAC defeated them in the Second Matabele War . Rhodes went to Matabeleland after his resignation as Cape Colony Premier, and appointed himself Colonel in his own column of irregular troops moving from Salisbury to Bulawayo to relieve

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6882-424: The establishment of the international Rhodes Scholarship at University of Oxford , the oldest graduate scholarship in the world. Every year it grants 102 full postgraduate scholarships. It has benefited prime ministers of Malta, Australia, and Canada, United States President Bill Clinton , and many others. With the strengthening of international movements against racism, such as Rhodes Must Fall , Rhodes' legacy

6993-411: The factories and mines. The Empire, as I have always said, is a bread and butter question. If you want to avoid civil war, you must become imperialists". Rhodes wanted to develop a Commonwealth in which all of the British-dominated countries in the empire would be represented in the British Parliament . Rhodes explicitly stipulated in his will that all races should be eligible for the scholarships. It

7104-532: The farm. After purchasing the land in 1839 from David Danser, a Koranna chief in the area, David Stephanus Fourie, forebear of Claudine Fourie-Grosvenor, had allowed the de Beers and various other Afrikaner families to cultivate the land. The region extended from the Modder River via the Vet River up to the Vaal River . In 1874 and 1875, the diamond fields were in the grip of depression, but Rhodes and Rudd were among those who stayed to consolidate their interests. They believed that diamonds would be numerous in

7215-481: 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

7326-417: The formation of Rhodesia during the early 1890s, he was forced to resign in 1896 after the disastrous Jameson Raid , an unauthorised attack on Paul Kruger 's South African Republic (or Transvaal). Rhodes's career never recovered; his heart was weak, and after years of ill health he died in 1902. He was buried in what is now Zimbabwe; his grave has been a controversial site. In his last will, he provided for

7437-401: The goal of bringing the entire world under British rule. During his years at Oxford, Rhodes continued to prosper in Kimberley . Before his departure for Oxford, he and C.D. Rudd had moved from the Kimberley Mine to invest in the more costly claims of what was known as old De Beers ( Vooruitzicht ). It was named after Johannes Nicolaas de Beer and his brother, Diederik Arnoldus, who occupied

7548-410: The good effects of a sea voyage and a better climate in South Africa. When he arrived in Africa, Rhodes lived on money lent by his aunt Sophia. After a brief stay with the Surveyor-General of Natal , P.C. Sutherland , in Pietermaritzburg , Rhodes took an interest in agriculture. He joined his brother Herbert on his cotton farm in the Umkomazi valley in Natal. The land was unsuitable for cotton, and

7659-443: The group in 1911 with the establishment of T. V. Sundram Iyengar & Sons in Madurai. The family is from the Iyengar community – Tamil Brahmins who are adherents of Sri Vaishnavism – hailing from Tirunelveli district . The founder T. V. Sundram Iyengar was born in 1877 in Thirukkurungudi . Sundram Iyengar qualified as a lawyer, and later worked in the Indian Railways and later in a bank. He later moved to Madurai and founded

7770-416: 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

7881-414: The hard blue ground that had been exposed after the softer, yellow layer near the surface had been worked out. During this time, the technical problem of clearing out the water that was flooding the mines became serious. Rhodes and Rudd obtained the contract for pumping water out of the three main mines. After Rhodes returned from his first term at Oxford, he lived with Robert Dundas Graham, who later became

7992-504: The history of Zimbabwe" and attracts thousands of visitors each year. One of Rhodes's dreams was for a "red line" on the map from the Cape to Cairo (on geo-political maps, British dominions were always denoted in red or pink). Rhodes had been instrumental in securing southern African states for the Empire. He and others felt the best way to "unify the possessions, facilitate governance, enable

8103-575: The independent Boer Republic of the Transvaal . He often disagreed with the Transvaal government's policies, which he considered unsupportive of mine-owners' interests. In 1895, believing he could use his influence to overthrow the Boer government, Rhodes supported the Jameson Raid , an unsuccessful attempt to create an uprising in the Transvaal that had the tacit approval of Secretary of State for

8214-576: 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

8325-415: 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

8436-460: 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)

8547-474: 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 ,

8658-524: The main obstacles to the British objective until the United Kingdom conquered and seized Tanganyika from the Germans as a League of Nations mandate in World War I . Rhodes wanted to expand the British Empire because he believed that the Anglo-Saxon race was destined to greatness. In what he described as "a draft of some of my ideas" written in 1877 while a student at Oxford, Rhodes said of

8769-494: 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

8880-543: 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

8991-563: The military to move quickly to hot spots or conduct war, help settlement, and foster trade" would be to build the "Cape to Cairo Railway". This enterprise was not without its problems. France had a conflicting strategy in the late 1890s to link its colonies from west to east across the continent and the Portuguese produced the " Pink Map ", representing their claims to sovereignty in Africa. Ultimately, Belgium and Germany proved to be

9102-722: The most powerful indigenous chiefs . Rhodes' competitive advantage over other mineral prospecting companies was his combination of wealth and astute political instincts, also called the "imperial factor," as he often collaborated with the British Government. He befriended its local representatives, the British Commissioners , and through them organized British protectorates over the mineral concession areas via separate but related treaties. In this way he obtained both legality and security for mining operations. He could then attract more investors. Imperial expansion and capital investment went hand in hand. The imperial factor

9213-472: The planets if I could; I often think of that. It makes me sad to see them so clear and yet so far". Furthermore Rhodes saw imperialism as a way to alleviate domestic social problems - "In order to save the 40,000,000 inhabitants of the United Kingdom from a bloody civil war, we colonial statesmen must acquire new lands to settle the surplus population, to provide new markets for the goods produced in

9324-560: 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

9435-405: The purpose of the raid and thereby convincing him to participate in the raid. Burrows was severely wounded and had to have his leg amputated. His suit for £3,000 in damages was successful. Rhodes used his wealth and that of his business partner Alfred Beit and other investors to pursue his dream of creating a British Empire in new territories to the north by obtaining mineral concessions from

9546-611: 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

9657-409: The reputation as the most flamboyant exemplar of the British imperial spirit, and always believed that British institutions were the best. Mensing argues that Rhodes quietly developed a more nuanced concept of imperial federation in Africa, and that his mature views were more balanced and realistic. According to Mensing, "Rhodes was not a biological or maximal racist . Despite his support for what became

9768-491: The rights of indigenous Africans to vote, but critics have labelled him as an "architect of apartheid " and a " white supremacist ", particularly since 2015. According to Magubane, Rhodes was "unhappy that in many Cape Constituencies, Africans could be decisive if more of them exercised this right to vote under current law [referring to the Cape Qualified Franchise]," with Rhodes arguing that "the native

9879-529: The siege of whites there. He remained Managing Director of the BSAC (with power of attorney to take decisions without reference back to the Board in London) until June 1896, defying Chamberlain's calls to resign, and he gave instructions that no mercy be shown in putting down the rebellion, telling officers that "Your instructions are" he told a major, to "do the most harm you can to the natives around you." He ordered

9990-532: The sooner that is brought home to them the better." In 1892, Rhodes's Franchise and Ballot Act raised the property requirements from a relatively low £25 to a significantly higher £75 which had a disproportionate effect on the previously growing number of enfranchised black people in the Cape under the Cape Qualified Franchise that had been in force since 1853. By limiting the amount of land which black Africans were legally allowed to hold in

10101-487: The southern African territory of Rhodesia (now Zimbabwe and Zambia ), which the company named after him in 1895. He also devoted much effort to realising his vision of a Cape to Cairo Railway through British territory. Rhodes set up the Rhodes Scholarship , which is funded by his estate. The son of a vicar , Rhodes was born at Netteswell House , Bishop's Stortford , Hertfordshire . A sickly child, he

10212-501: 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

10323-615: The time, Rhodes would argue that "the native is to be treated as a child and denied the franchise. We must adopt a system of despotism, such as works in India , in our relations with the barbarism of South Africa." Rhodes also introduced educational reform to the area. His policies were instrumental in the development of British imperial policies in South Africa, such as the Hut tax . Rhodes did not, however, have direct political power over

10434-537: The venture failed. In October 1871, 18-year-old Rhodes and his 26-year-old brother Herbert left the colony for the diamond fields of Kimberley in Northern Cape Province. Financed by N M Rothschild & Sons , Rhodes succeeded over the next 17 years in buying up all the smaller diamond mining operations in the Kimberley area. His monopoly of the world's diamond supply was sealed in 1890 through

10545-414: 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

10656-573: 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

10767-503: 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

10878-524: Was a Church of England clergyman who served as perpetual curate of Brentwood, Essex (1834–1843), and then as vicar of nearby Bishop's Stortford (1849–1876), where he was well known for never having preached a sermon longer than ten minutes. Francis was the eldest son of William Rhodes (1774–1855), a brick manufacturer from Hackney, Middlesex . The family owned significant estates in London's Hackney and Dalston which Cecil would later inherit. The earliest traceable direct ancestor of Cecil Rhodes

10989-481: Was a double-edged sword: Rhodes did not want the bureaucrats of the Colonial Office in London to interfere in the Empire in Africa. He wanted British settlers and local politicians and governors to run it. This put him on a collision course with many in Britain, as well as with British missionaries , who favoured what they saw as the more ethical direct rule from London. Rhodes prevailed because he would pay

11100-438: 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

11211-588: Was established with funding from N.M. Rothschild & Sons in 1887. In 1880, Rhodes prepared to enter public life at the Cape. With the earlier incorporation of Griqualand West into the Cape Colony under the Molteno Ministry in 1877, the area had obtained six seats in the Cape House of Assembly . Rhodes chose the rural and predominately Boer constituency of Barkly West , which would remain loyal to Rhodes until his death. When Rhodes became

11322-448: 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

11433-464: Was greatly influenced by John Ruskin 's inaugural lecture at Oxford , which reinforced his own attachment to the cause of British imperialism . Among his Oxford associates were James Rochfort Maguire , later a fellow of All Souls College and a director of the British South Africa Company , and Charles Metcalfe. Due to his university career, Rhodes admired the Oxford tutorial system. Eventually, he

11544-605: Was inspired to develop his scholarship scheme: "Wherever you turn your eye—except in science—an Oxford man is at the top of the tree". While attending Oriel College, Rhodes became a Freemason in the Apollo University Lodge . Although initially he did not approve of the organisation, he continued to be a South African Freemason until his death in 1902. The shortcomings of the Freemasons, in his opinion, later caused him to envisage his own secret society with

11655-546: 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

11766-523: Was left out of the document, known as the Rudd Concession , which Lobengula signed. Furthermore, it stated that the mining companies could do anything necessary to their operations. When Lobengula discovered later the true effects of the concession, he tried to renounce it, but the British Government ignored him. During the company's early days, Rhodes and his associates set themselves up to make millions (hundreds of millions in current pounds) over

11877-639: Was quietly formed in London in 1889. This entity renamed itself the United Concessions Company in 1890, and soon after sold the Rudd Concession to the Chartered Company for 1,000,000 shares. When Colonial Office functionaries discovered this chicanery in 1891, they advised Secretary of State for the Colonies Viscount Knutsford to consider revoking the concession, but no action was taken. Armed with

11988-469: Was recorded in the 1861 census as boarding with his aunt, Sophia Peacock, at a boarding house in Jersey , where the climate was perceived to provide a respite for those with conditions such as asthma . His health was weak and there were fears that he might be consumptive (have tuberculosis), a disease of which several of the family showed symptoms. His father decided to send him abroad for what were believed

12099-461: Was sent to South Africa by his family when he was 17 years old in the hope that the climate might improve his health. He entered the diamond trade at Kimberley in 1871, when he was 18, and with funding from Rothschild & Co , began to systematically buy out and consolidate diamond mines. Over the next two decades he gained a near-complete monopoly of the world diamond market. His diamond company De Beers , formed in 1888, retains its prominence into

12210-558: Was similar to the Rudd Concession); and in the Lake Mweru area ( Alfred Sharpe 's 1890 Kazembe concession). Rhodes also sent Sharpe to get a concession over mineral-rich Katanga , but met his match in ruthlessness: when Sharpe was rebuffed by its ruler Msiri , King Leopold II of Belgium obtained a concession over Msiri's dead body for his Congo Free State . Rhodes also wanted Bechuanaland Protectorate incorporated in

12321-513: 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

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