Multinational Companies in Sri Lanka has come along a prolonged distance in the business sectors and corporate origins of Sri Lanka since last few decades. Of course, all these multinational companies in Sri Lanka are indeed highly praised, cherished, valued and facilitated with all sort of benefits and advantages from their government. These is mainly because of the large economy of the country being covered by all these MNCs and vast populations get job benefits and opportunity to build up their career. Usually most of these multinational companies (MNC) established and incorporated in Sri Lanka does have corporate assets or can be stated as head branch office in some other part of the world or simply called The Parent Country. Such companies have enough financial support to buy in fortune and work force to invest in various countries around the world to spread their brand, business, service and product to locals to make more profit. All these Multinational Companies in Sri Lanka and in other nations may have several branch offices and corporate house in various nation but usually they have one sole central office called the head office (mainly in the parent country or country of origin) that is mainly initiated to coordinate global management.
Well, I believe till now it can be guessed by all that all these MNCs are huge in size, number of employees and business operations. Hence, to run in such immense business in any country it does require a vast and vivid number of licenses and permits approved and authenticated from authorized figure or government agencies. All sort of regulatory affairs, licensing and related approvals needed by all these Multinational companies in Sri Lanka are conducted and regulated under the Registrar Office in Sri Lanka and BOI. They are said to be the sole statutory body assigned in Sri Lanka to run in all sort of incorporation issues, corporate regulatory facts, licensing approvals and various legal permits required for business registration and company formation in Sri Lanka.
There are a lot to know and study about the various sectors all these multinational companies come along to initiate and operate their business in a specific country, yet there are some few fundamental facts that need to be known in particular. My article will mainly emphasis of Seven basic characteristics that all these multinational companies in Sri Lanka and in other parts of the world come up with.
Seven basic Characteristics or features — Multinational Companies in Sri Lanka consoles:
- Their Large size
Whenever we are talking about Multinational Companies one thing dives right in our mind for sure – “Large-Sized Business Companies in Sri Lanka”. These is mainly because all these multinationals usually come along with immense resource facilities in terms of company capital shares, technology varieties, skilled manpower and other related information to be taken in concern. All these resources are said to be way too efficient in terms of business operation & way complex to handle or to be maintained at ease.
- Multiple Country Based Operations
As mentioned above in my article all these multinational companies have their branch offices established and incorporated in various countries but usually they have one sole central office called the head office (mainly in the parent country or country of origin) that is mainly initiated to coordinate global management. The purpose to open all these branch offices in various origin is spread their brand name, business and make more profit out of the products they manufacture and services they sell in to the locals. All these MNCs do covers a large geographical area as they own certain company assets and run in business operation in various countries.
- MNCs and their Prime objectives
- – Move along with certain new market opportunities and policies to expand the global market size.
- – Consulate cheap raw resource materials to reduce costing and increase competitive capacity.
- – Initiate cheap labor resources to reduce costing regarding labor and energy.
- Various environments
One of the prime features of all these Multinational Companies in Sri Lanka is that they are capable to perform or operate their business-related operations in various environments with ease and smoothness. The main reason behind this capability is the strong work force, manpower skills and experience they carry along with themselves. Indeed, these characteristics significantly and potentially mark out the MNCs from all other business organizations. These variety of business environment we just mentioned are nothing but political empowerment of the country these MNCs are situated, relative legal affairs, economical outburst, social-welfare activities, cultural and technological forces that all these different countries bring in various challenging formats.
- Centralized ownership and control
Mentioned above in my article – The Main Corporate House or the Head Office of all these Multinational Companies. Please check in details.
- Multiple currencies
All these MNCs has to deal in various currencies as they incorporate and initiate their business operations in various countries for business expenditures. And trust me or not these usually brings in high risk for the company owners and shareholders as because changing values of currencies and being stable at constant rate totally depends on host countries.
- High efficiency
- – Mass production of goods leading to economic stability.
- – Advanced technologies are to speed up production level
- – High Professional Management & Marketing skills are effectively used.
Well this was all about Multinational Companies in Sri Lanka from my end, yes please feel free to knock our all experienced business advisory associates from S & F Consulting Firm Limited to know more in details about this related topic. We are always there to help you with all your concerns and queries you come along with you about MNC incorporation in Sri Lanka or in any other country around the world, permits, licensing, regulations, limitation and related issues.