explain with examples how the indigenous industries are extinct because of multinational company
Answers
Hey mate here is your answer!
Yes it is equally true that indigenous industries extinct because of multinational companies. Multinational companies have much profits with them as they earn much better than any indigenous industry.
The individual industries wanted to compete with the MNCs, but cannot earn more then those as their products are of very higher quality and as a result the indigenous industries fell into dept and become extinct.
Lets take an example, Ali, had his own industry in his local area and no other company was there. He was working efficiently and all people of that locality purchase goods from his industry only. Once an MNC settled up there and started producing goods. Ali wanted to compete with it as people started liking MNC.
But his profit was much lower than MNC and his own workers started to join that MNC and as a result he fell into dept and his industry became extinct.
Hope this helps you !!
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To embark with, financial instability of aboriginal corporations paved paths for big shots to conquer entire business. HMT watches, for example, were only watch makers ruling India once upon a time, but they vanished incompetently completely from the race in the contemporary world. This isn't only a age old establishment to disappear, there a countless small to large business washed away in the flood of multinational thirst.
In addition to this there a other possibilities and theories which can be the basis to support our arguments. Firstly, primitive groups failed to cope with and meet the demands and customs of fast paced world. Secondly, research and statistics wings of primordial industries were outdated and intact, the technologies held by them were obsoleted way long back by MNC's. Ultimately, the top management were the main culprits to blamed to this incumbent industrial revolutionary because they failed miserably to anticipate the needs of 21st century.
However, MNC,s should not be blamed for their obsession to meddle and invest in foreign land. Indeed, we should appreciate the nuances introduced to us as they were imbibed with cutting-edge technologies to meet and hasten the daily chores of individuals as well as many firm and though.
All summed up, I regurgitate that, numerous reasons depicted above lead to fall of local companies and raise of MNC,s.