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403 Annals Am. Acad. Pol. & Soc. Sci. 1 (1972)

handle is hein.cow/anamacp0403 and id is 1 raw text is: The Internationalization of Business By JOHN FAYERWEATHER ABSTRACT: The multinational firm which has evolved as the central institution in the tremendous postwar expansion of in- ternational business has two basic roles: transmission of re- sources, especially technological and managerial skills; and or- ganization of unified multi-nation economic activities, notably in fields where there are advantages from the global integra- tion of research and development, logistics, and financing. In pursuit of these roles the multinational firm encounters funda- mental obstacles in nationalism and the structure of the nation- state. Nationalistic resistance to outsiders is aroused by the multinational firm which penetrates host nations, exercising control and extracting profits. Its global approach to eco- nomic decisions is often at odds with the nation-oriented cri- teria of governments. Furthermore, its control of critical eco- nomic elements, notably technology and investment, weakens the ability of elites to control their own national affairs. De- spite these obstacles the multinational firm has expanded steadily because of the basic values of its economic contribu- tions. It seems likely that this progress will continue with a gradual evolution of effective accommodation with nationalism and the nation-state even though there may be periods of greater tension along the way. John Fayerweather is Professor of International Business at the Graduate School of Business Administration, New York University, and Managing Editor of the International Executive. He is the author of several books in the field including International Busi- ness Management: A Conceptual Framework. With degrees from Princeton and Harvard, he previously served on the faculties of the Columbia and Harvard business schools. He was the first President of the Association for Education in International Business and has served in a number of other professional and business organizations. 1

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