chapter  3
Globalization, multinational corporations and employee relations
Pages 36

Definition Scale and nature of multinational activity and FDI FDI - advantages and disadvantages MNCs - approaches to the management of employee relations MNCs and national systems MNCs and the trade unions

• International trade union organization Global organizations Sectoral federations The European Trade Union Confederation (ETUC)

• International regulation and control of MNC activities Organization for Economic Cooperation and Development (OECD) The International Labour Organization (ILO)

• Chapter summary

80 Exploring Employee Relations

The latter part of the twentieth century witnessed a massive expansion in the extent to which business has become international and commonly this is encompassed within, or referred to in terms, of 'Globalization'. There has been:

• a significant expansion of international trade, development of more global product markets and enhanced pressures of international competition

• the liberalization of trade across national borders through the removal of tariff barriers, the extension of free trade agreements, such as those that paved the way for the development of the European Union (EU) and the North American Free Trade Agreement (NAFTA)

• the cross-national integration of production within multinational corporations (MNCs) as well as an expansion in the number and influence of MNCs, whether this be through joint ventures, cross-national acquisitions and mergers or other forms of foreign direct investment(FDI).