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The full form of TNC is Transnational Corporations. TNCs are businesses that have a global reach and thus, they operate in more than one country. For instance, companies like Apple, Nike, Microsoft, Sony, Amazon, and Walmart are a few examples of transnational corporations. In this way, TNCs are embedded in various aspects of our lives ranging from the clothes we wear to the devices we use daily.
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Characteristics of TNCs
Generally, all transnational corporations have characteristics that differentiate them from other similar companies. Here is a list of their common characteristics which include:
- TNCs are huge companies with a substantial number of employees.
- They aim to maximize their size and revenue by having multiple branches with different activities.
- Due to their considerable revenue, they can employ the latest technology in the market.
- TNCs are spread across the globe by having branches in multiple countries.
- Additionally, they have access to global markets.
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Advantages of TNCs
Here are a few notable advantages of TNCs:
- They bring money into the country and offer huge profits to companies.
- TNCs can bring the latest technology and knowledge to businesses and their employees.
- Some TNCs have the potential to improve the transport conditions of a specific area.
- They can also aid in developing the country.
Disadvantages of TNCs
TNCs also have a bunch of disadvantages such as:
- They pay low wages to laborers.
- Some TNCs have been accused of exploiting workers.
- Many companies have insufficient records of workers’ protection.
- Some TNCs contribute significantly to pollution.
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