Trends in Multinational Business and Global Environments: A Perspective

Abstract

This article reviews and synthesizes the emergence and growth of U.S., Western European, and Japanese MNCs in the postwar environment, the growing role of state enterprises, and the recent emergence of Third World MNCs. While U.S. foreign direct investments have expanded and continue to be highly significant, some important recent developments are the more rapid growth of Western European and Japanese MNCs, the increased role of the U.S. as a host country for investments, the emergence of multibusiness by MNCs, the more numerous actors involved in global business, and the dramatic, more rapid changes in the world environment. This article explores developments in host- and home-country policies, some of the other major actors in international business, “newer” forms of international participation along with some hypotheses, and concludes by analyzing a few major changes in global environments and multinational management.