please help me with my question, Multinational firms like Nike and Reebok by est
ID: 1119045 • Letter: P
Question
please help me with my question, Multinational firms like Nike and Reebok by establishing their main business operations in developing countries are profiting millions of dollars by taking advantage of the extremely low wage and primitive work conditions that exist in many developing countries. On the other hand, these firms are also generating significant income as well as employment opportunities for the local people in the host countries. Argue about the ethics of such business practices by taking an unbiased position. Assess if the work conditions provided by Nike and Reebok globally are acceptable in modern times. Do you think MNC such Nike and Reebok violate human rights by offering lower wages for workers? If what is the alternative. What should be the acceptable and balanced action Nike and Reebok need to follow?
Explanation / Answer
Developing countries are often plagued with problems of unemployment, poverty,huge population, lack of investments, all leading to lowering down of economic growth. Thus, when an MNC invests in a country (like India for example), it brings with it a huge amount of money leading to new employment opportunities and acquiring skills over time. This leads to development of country by fuelling economic growth.
Majority of MNCs support the labour unions. These unions help the working class from any exploitation that may befall on them. be it lowering of wages, extended working hours or any other issue, they have the right to go on strikes or demand an increase in wages or fixating the working hours.
Thus, these MNCs have a positive impact on the society.
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