Global Business in Local Culture: The Impact of Embedded Multinational Enterprises

Description

This book examines the impact of multinational enterprises (MNEs) on local economies, and presents selected case studies of MNEs operating in low income countries. By balancing external social and environmental costs against its corresponding benefits, the book demonstrates that MNEs can have a positive net-impact on local development if they build up social capital by embedding themselves in local economies and engaging responsibly with local stakeholders. By doing so MNEs contribute to inclusive growth, a central pillar of the UN Sustainable Development Goals. In this context, the book challenges popular narratives in civil society and academia that frame foreign direct investment (FDI) merely as a threat to human rights and sustainable development. Moreover, it offers practical guidance for globally operating businesses seeking to establish progressive Corporate Social Responsibility (CSR) strategies of their own. Front Matter ....Pages i-xvi Introduction (Philipp Aerni)....Pages 1-11 Societal Foundations of Economic Development (Philipp Aerni)....Pages 13-19 Neoliberalism: A Mythical and Meaningful Term Devoid of Any Deep Thought (Philipp Aerni)....Pages 21-28 The Impact of Popular Stereotypes in Academic Research and Public Policy (Philipp Aerni)....Pages 29-49 The New Understanding of the Term ‘Embeddedness’ in Economic Sociology (Philipp Aerni)....Pages 51-59 Economic Globalization as a “Disembedding” Force? (Philipp Aerni)....Pages 61-72 Embedded MNEs and Their Contribution to Sustainable Change (Philipp Aerni)....Pages 73-88 Development Cooperation as a Catalyst for Sustainable Long-Term FDI (Philipp Aerni)....Pages 89-97 Concluding Remarks (Philipp Aerni)....Pages 99-110 Back Matter ....Pages 111-122