Discussion Economic Freedom MNCs

Part1: Please answer the below questions in a min of 200 words.

Determine the key reasons why economic freedom is so critical to multinational companies (MNCs). Provide one (1) example from the information that you learned about China versus India to support your response.

Recommend two (2) ways in which multinational managers could apply the overarching principles from the four (4) major religions of the world in order to contribute positively to the business culture of a society. Provide a rationale for your response.

Part 2: Please comment on the below discussion post in a min of 100 words.

One way multinational managers could apply the overarching principles from the four (4) major religions of the world in order to contribute positively to the business culture of a society is by extending religion accommodations in the workplace. For example, every religion has its own set of standards, beliefs, and observances. As a manager, when these observances are reported by the employee, it should be accommodated. For example, in my religion, we worship on the Sabbath, which starts at the sunset on a Friday evening and it ends at sunset on Saturday evening. Therefore, if I were an employee in this situation, a manager should accommodate my schedule to where I am off work before sunset on Friday.

Another way multinational managers could apply the overarching principles from the four (4) major religions of the world in order to contribute positively to the business culture of a society is by ensuring diversity in the workplace, according to different religions. For example, people of all religions should be hired into the workplace and each religion should genuinely be respected. For example, style of dress according to religions should be allowed in the workplace. Prayer time/ the mediation time/ Fasting time should be incorporated into the work schedule, excluding during this during the break time. Managers should ensure an adequate amount of staff is on payroll to be able to extend this offer during the day. I strongly agree that this will increase the morale in the workplace.

Part 3: Please comment on the below discussion post in a min of 100 words.

Economic freedom refers minimum or no government intervention in various economic processes like how to produce or when to produce, where to sell, what profit to make etc. There are several reasons why economic freedom is critical for multinational companies. Firstly, provision of a good working environment for the companies. This could be achieved through government interventions which may involve creation of laws that allow multinational countries to operate smoothly (Cullen & Parboteeah, 2016). Secondly, the government plays a critical role in the development of infrastructures like roads and airports, which will enable the companies to sell their products and transport raw materials (Cullen & Parboteeah, 2016). Research has revealed that economic freedom plays a critical role in improving the living standards of the countries that embrace it. Other benefits may include reduced unemployment levels, higher incomes, and lower poverty levels among other positive effects. An example of the multinational companies in China is Apple, which has witnessed enormous success in China since the country’s adoption of free-market principles (Investopedia, 2015).