Critically assess how extract from Machiavelli's Prince relates to the Essay

Critically assess how extract from Machiavelli's Prince relates to the contemporary issues concerning globalisation and the busi - Essay Example Well-organized states and wise princes have always taken great pains not to make the nobles despair, and to satisfy the people and keep them content; this is one of the most important tasks a prince must undertake.’1 Globalization is the term used to refer to the continuous process by which different economies, societies, cultures and traditions interact with one another (Berberoglu, 2005). A multinational corporation is a company that has operations in more than one country. Multinationals have for a very long time been the major agents of globalization. Multinational business has been in existence since overseas trade began (Toporowski, 2010). In the context, the Prince in Machiavelli’s book can be equated with multinationals or businesses which have international operations. In this age of rapid globalization, there are many issues that multinational companies face as they try to forge new ground in various parts of the world (Berberoglu, 2005). ... He says that when one has the goodwill of the people, he should not have reason to worry that he will not receive their support and cooperation. However, he warns that anyone who ventures to a foreign place and fails to gain the people’s goodwill, he is bound to fail in whatever that he is doing. Machiavelli’s advice to the Prince can be used to look at how multinational companies today can thrive in new areas of operations. It is true that a company cannot just decide to start operations in a certain place and go ahead with it. There are few things that the company has to fulfill before business can start. Many of corporations trying to break ground in new markets have been unable to do so due to the fact that they do not have the goodwill of the countries where they want to set up operations (Choucri, 1991). There have been a number of international bodies and organizations that have been set up to ensure that international dealings are mutually fair. Most of these or ganizations were formed through treaties to ensure that trade between countries does not favor one country at the expense of the other. The organizations also regulate how multinational corporations operate in foreign countries so that no party feels victimized. The regulations set forth by these organizations help multinational corporations to gain acceptance in new regions or countries, as long as the companies fulfill certain obligations (Toporowski, 2010). Two of these organizations are discussed below. The World Trade Organization The World Trade Organization (WTO) is an international organization that deals with and regulates the rules of trade