Global corporations are the result of recent technological advances which have led to the process of globalization and the "flattening" of the planet. This flattening has allowed the world to become interconnected in an unprecedented way, and has lead to global revolutions in many aspects of life.
- A corporation is a legal entity formed to conduct business. It is separate from shareholders and employees and subject to a unique set of corporate laws.
- Also referred to as international corporations, multinational corporations manage production or services--conduct business--in more than one country.
- In many ways relegating multinational corporations obsolete, a global corporation is a group or network of independent entrepreneurs with no official headquarters and highly globalized ways of conducting business and internal affairs.
- In a global corporation the parent company treats each national contingent as part of an integrated market. This means that many divisions exist within the global corporation that act as autonomous units when conducting business in their specific regions.
- This two-leveled structure of support, in which the parent company handles company-wide concerns and the unit level handles regional or specific concerns is regarded as two-level management. The two-level management system is supported by corporate vision and effective communication across the different company networks and geographic areas.
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