A multinational company is a corporate unit that is operated in various countries but is managed from one country. Most of their revenue is generated from outside of their home country. Two of the main flabbergasting characteristics of MNCs are their size and the fact that their worldwide activities are controlled centrally by their parent companies.
MNCs make significant investments in a foreign country by buying and selling licenses in foreign markets and deal with importing and exporting of goods. They usually have a complete decision-making system and the highest decision-making center. Due to their worldwide reach, strong economic and technical strength, rapid information transformation, and prompt cross-border transfers they have the strongest competitiveness in the world. Here is a list of top 10 best MNC (Multinational Companies) in the world in 2019.
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Toyota is an automobile manufacturing company and is recorded as the fifth largest revenue generating multinational company by Fortune Global 500 list of 2017. It is headquartered in Toyota, Aichi, Japan with 364,445 employees globally. Toyota also manufactures luxury vehicles, commercial vehicles, and engines which are known for their long-lasting quality globally. Toyota also provides financial services and works with many other kinds of business as well.
9. China National Petroleum
China National Petroleum is a state-owned oil and gas corporation with headquarters in Beijing, China. It was founded 29 years ago as a part of the restructuring of CNPC developing overseas assets by the joint venture and now hold proven reserves of 3.7 billion barrels of oil equivalent. It was the fourth largest multinational company in 2017 with a recorded annual income of $ 262 billion.
8. Sinopec Group
Sinopec is another Chinese state-owned petroleum energy and chemicals company with headquarters in Beijing, China. Their business includes production and sales of petrochemicals, chemical fibers, fertilisers and oil and gas refining and marketing. They also export crude oil, natural gas, and refined oil products. Their annual revenue is recorded as 267 billion US Dollars making them third largest multinational company in the world.
7. State Grid
The State Grid Corporation is the largest utility company in the world with about 927,839 employees. They operate in China, Philippines, Australia, and Brazil and generate revenue of 329 billion US Dollars, making them the second largest multinational company in the world.
Walmart is an American multinational company with headquarters in Bentonville, Arkansas, USA. Walmart has 2.3 million employees worldwide with 11,695 stores and clubs under 63 banners generating an annual income of $ 485 billion making it as the first largest multinational company in the world. It operates with different names in different countries. It operated as Asda in the UK and as Best Price in India.
5. Kimberly Clark
Kimberly Clark was co-founded by John Kimberly and Charles B Clark in 1872 with a capital of $42,000. At first, they operated as paper mills after that they developed cellu-cotton which was used by US army during World War I. After that, the company introduced Kotex, the first ever disposable feminine hygiene product. The firm gradually expanded and started its operations in 17 foreign countries. That’s how they made it to the top MNCs in the world. They are now a multinational personal care corporation that produces mainly paper-based consumer products.
FedEx is an American multinational courier delivery services company. Its original name is Federal Express. It has its headquarters in Memphis, Tennessee and 400,000 employees working for it globally. The company was the first to provide service of tracking packages and provide real-time updates on the package’s location. This feature is now implemented by most of the other courier services. FedEx also provides overnight shipping services. With its purchase of Caliber Inc., it has started offering other services like logistics and technology solutions. With such big ventures, FedEx has made it on the list of top MNCs in the world.
Microsoft is founded by Paul Allen and Bill Gates in 1975 utilising their shared skills in computer programming. They programmed the first BASIC interpreter which worked flawlessly while testing. After that, the company successfully developed many software programs. But the turning point for the company was when it developed a new Operating System with IBM 2 and released it as Microsoft Windows. From then the company is globally known for its software products and line of operating systems, Microsoft Office Suite and Internet Explorer. It has increasingly diversified from the operating system market and has made a number of corporate acquisitions turning it into one of the largest MNCs in the world.
Who has not heard of Volkswagen? It is a German automobile MNC which sells passenger cars under various names such as Audi, Bentley, Porsche, Bugatti, Lamborghini, SEAT, Skoda, Volkswagen and motorcycles under the name Ducati, cars we all dream to own. Their names are kind of a status symbol for a regular human being.
Volkswagen also designs and manufactures commercial vehicles, turbomachinery, engines and is the second biggest automaker in the world, with its operations in 27 countries. It is also the largest automaker in the world and one of the largest MNCs in the world.
1. Apple Inc.
Apple is an American multinational technology company which was originally founded by Steve Jobs and Ronald Wayne to develop and sell personal computers. It has its headquarters in California and is operated in 22 countries with 116,000 employees. They sell consumer electronics, computer software, and online services. The company also manufactures hardware products that include iPhone mobiles, IPad tablets, iPod portable media player, iTunes, Mac personal computer, Mac OS, Safari web browser. Apple sells computers featuring innovative graphical user interface. It is the world’s second-largest mobile phone manufacturer and world’s largest information technology company.
All these companies started as small units and are now leading multinationals. It did not happen overnight. It is a result of their perseverance that these companies are leaving a mark in this world. After all, what are humans, if not fiddling creatures, jostling in the world to find their identities. But only those who persevere are able to reach the heights.