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franchising is a business relationship in which the business owner (the franchisor) licenses to independent persons (the franchisee) the right to distribute the franchisor’s goods or services, and to use the franchisor’s business name or trademarks for a fixed period of time.

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Franchises in Trinidad and Tobago include; 

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Franchises in Trinidad and Tobago include; 

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Kentucky Fried chicken, owned by Prestige holdings Limited

Pizza Hut INC., Owned by Prestige holdings Limited

Subway, owned by Prestige holdings Limited

Church’s Chicken, owned by Global Brands LTD

Domino’s pizza INC., owned by Fakoory and Omar Hadeed

Popeye’s chicken and Biscuits, owned by Restaurant Holdings Limited

The Haagen Daz shoppe CO.INC, owned by HADCO Limited

Starbucks, owned by Prestige holdings Limited

TGI FridaysTM, owned by Prestige holdings Limited

McDonald’s, owned by Arcos Dorados

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Rhian, what's shaking? Due date 29/11/2019

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Rhian, what's shaking? Due date 29/11/2019

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RRB

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A multinational corporation is one that owns and controls other business operations outside of the country in which it is situated. The parent company operates out of one country but operates other branches or factories in other countries.

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Multinational Corporations in the Caribbean 

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Multinational Corporations in the Caribbean 

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Multinationals in the Caribbean have increased over the years due to;

1. Being close to their markets. These multinationals cut cost and gather more accurate data when they operate near their markets.

2. Lower Production Cost. Locating in the Caribbean often present MNCs with cheaper production costs.

3. To avoid local laws. Multinationals move their operations out of their home country in order to avoid laws affecting them. For example; countries with Antitrust laws encourage competition with the prevention of monopolies and mergers.

4.    Government policy. Governments may
implement fiscal and monetary policies that
encourage the growth of MNCs in order to
foster economic growth and investments.

5.    To be shielded by tariff-protected markets.
Multinationals set up operations in CARICOM
countries and take advantage of free trade
within the region while being protected from
competition outside the region.

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Examples of Multinational Corporations in the Caribbean.

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Examples of Multinational Corporations in the Caribbean.

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1.  The Coca-Cola company

2.  Nestlé

3.  Toyota

4.  BP

5.  Digicel

6.  Hyundai

7.  Scotiabank

8.  Nissan

9.  Apple

10. Caribbean Airlines

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Although globalisation has made it easier to trade goods worldwide and created opportunity for economic growth, the impact of globalisation is not completely positive. Globalisation has caused an increase in unemployment as small businesses are forced to shut down due to stiffer competition. Similarly, there has been a depletion of local resources due to a high demand of non-renewable resources being overused. Additionally, the opening of markets may make countries susceptible to illegal drug trade and money laundering, which can lead to an increase in criminal activities in those countries. Lastly, globalisation cause small Caribbean countries to become vulnerable to global or external shocks which may lead to economies performing poorly.

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The extractive industry consists of any operations that remove metals, mineral and aggregates from the earth. Examples of extractive processes include oil and gas extraction, mining, dredging and quarrying.

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The Gift for life Foundation is a non-profit organisation that aims to assist underprivileged children at children’s homes and in needy communities in Trinidad and Tobago by providing a traditional family living environment and guiding children in their education. Some of the activities include; mental health awareness workshops, annual sports days, Annual dental clinic and pool days and concerts that allow children to showcase their talents. This organization is of interest to me due to their efforts in making the lives of less fortunate children better.

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Examples of Successful Extractive Industries 

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Examples of Successful Extractive Industries 

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1. The national gas company of Trinidad and  Tobago.

2. Petroleum company of Trinidad and Tobago LTD.

3. BP Trinidad and Tobago LLC

4. The Bauxite and Alumina Trading Company of Jamaica Ltd

5. Trinidad Cement Limited

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Given the present financial situation at the port of Port of Spain, it is in dire need of an alternative source of financing. This can be done through privatisation, the port can use concession contracts introducing private participation, or sell the seaports assets to the private sector in order to limit the use of public funds and generate more funds to run the organisation.