BASIC FINANCE

Activity 2

An MNC Story

It was an American movie in 1982 which portrayed the power and exploitation
of a very elegant old man who was president of a multinational corporation. He
managed the largest copper mining corporation in Latin America which employed
thousands of local workers in the region.
The MINC boss was very rich and very
powerful. He associated with the most famous men
and with the most beautiful women. He attended
conferences and parties in various great cities of the
world. He had a very young and extremely beautiful
wife. He had a private airplane, together with a bunch
of tough looking security men.
A big problem for the MNC boss cropped up
when the president of the country where his
corporation was located died. The son of the deceased president, a young Harvard
graduate of economics, succeeded his father. He became a dictator and ordered the
shooting of all those who opposed him. Being an economist, he was aware of the
exploitations of the copper mining company in his country. So, he planned to take the
company.
The MNC president offered substantial financial rewards to the hero of the story
who was a former Harvard classmate of the dictator. His mission was to convince his
former classmate not to touch the giant mining corporation. The hero, an ordinary bank
employee in the United States refused the job. The following day, the hero was fired
from his job in the bank. The MNC boss was of course responsible for this. He got good
connections and influence. The hero being poor and jobless was forced to accept the
mission to Latin America. This was against his principles because he knew the evils of
multinational corporations. When he was still a student at Harvard, he wrote an article
exposing the exploitations of the multinational corporations, The MNC boss had copy of
such article.
The hero, together with the MNC boss and his wife, and security men went to
Latin America. The hero could not convince his friend, the dictator. The former was
more interested in the well-being of his countrymen and the future of his country. He
was against American imperialism in his region and he promised to eliminate it.
The MNC president and his wife stayed at the U.8. Embassy. During the lunch
given by the American ambassador and his wife in honor of his rich visitors, the dictator
barged in. It was only the wife of the MNC boss who had earlier told him to see her at
the U.S. Embassy. In that group, the hero, the security men, and the general of the army
who appeared to be more subservient to the MNC boss, were present. The dictator was
offered by the American ambassador, and he ate informally. While the group was
eating, the MNC boss started talking about his friendship with the father of the dictator,
how he used to carry the dictator in his arms when he was still a child. Then he talked of
the good things that his company has done for the people and for the whole economy.
At this point, the dictator answered people were exploited and his country remained
underdeveloped. The MNC boss stood up and exploded his temper. He shouted that
without his company the people would be hungry and that the economy would collapse.
The U.S. ambassador tried to pacify the two men, but the MNC boss shouted at him and
told him to shut up. The U.S. ambassador, together with his wife, was visibly
embarrassed. The MNC boss continued shouting at the young dicta tor, and told him he
would have him killed. The dictator left with only one companion, and he drove his
army-type jeep.
A few minutes later, the MNC boss and his group left the U.S. Embassy and
rushed to the airport. The poor hero nearly missed the car of the MNC boss which was
speeding away. On their way to the airport, the MNC boss ordered his bodyguard to
shoot the hero who was sitting beside him (MNC boss) and his wife, the security man
aimed his gun towards the hero. But he (Security man) fired instead his gun at the MINC
boss.
What lessons did you learn from the MNC story? Look for the similar true story of
MNC in the provinces and state the story briefly.

Globalization of Markets

The following companies have found a stable market in foreign countries. Try to
find out the details of their international business with regards to its product portfolio,
revenue, major clients and reputation in foreign markets. Follow the given format.

Company Product Portfolio Major Clients Reputation in

Foreign Markets
 Challenges of Globalization

Find out the various policy issues that Philippine

faces in its quest for globalization.

Globalization

Write a paragraph about the poster below. Start your paragraph with the caption in the
poster.