Write 6 pages with APA style on The Responsible Corporation in a Global Economy. The author shows that despite Cameron International Corporation’s involvement in other developed nations, the company’s production and innovative approaches towards the development of oil extraction equipment may hinder the desired success if it fails to establish the actual needs of the oil drilling industry in Myanmar. The risk involved in the company’s strategic entry in foreign markets is the lack of research and development programs to establish the unseen barriers, and the dependence on its large capital base for diversification of investments (Griese, 2004). Certainly, the risks of production that prompted the explosion of the BP oil rig revealed technological failures thus. the company’s profitability should not serve to guarantee success in Myanmar since technological breakdowns might lead to expulsion and exploitation from the mining industry (Crouch & Maclean, 2011). Arguably, the institutional risks present in the oil extraction corporation serve as a deterrence to success in entering the Myanmar oil industry. The institutional risks born to the multinational corporation are. financial, human resources, and corporate social responsibility practices (Meyer, 2010). However, the management is certain of prosperity in the market due to its capital amount set aside for the investment.
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