The paper tells that capitalism is currently the most influential and widespread form of the global economic system. The markets of the United Kingdom are dominated by this form of economic system with the mixed capitalism format being widely followed in most of the sectors of the economy. It can be argued that the traditional mixed and advanced level of capitalism followed in the markets of the United Kingdom is being deeply affected by the functioning of the foreign multinational enterprises in the country in both positive and negative ways. While some of the multinational companies are driving the forces of capitalism to greater heights, most of the multinational corporations originally from democratic nations are enforcing management rules and systems that have challenged and modified the existing landscape of capitalism in the country.
Multinational companies (MNCs) have emerged as central actors in the area of contemporary international economic development. Currently, there are more than 100,000 of MNCs operating across different regions in the world, employing more than 85 million people from diverse nations, having direct or indirect ownership over 90000 foreign affiliates and accounting for one-third of the total trade developments and transactions on a global scale.
The multinational corporations can directly and disproportionately impact the directions in which the industries function and also the policies that are formulated by the governments in the host countries. This obviously includes employment and human resource management policies and practices which are integral parts of an industry. The comparison of the traditional domestic human resource management practices and the contemporary human resource management practices clearly suggest that the entry of the foreign multinational companies into the nation have created several disturbances as well as opportunities in the way the people resources are managed in a company.
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