Final answer:
Global brands are commonly associated with three characteristics: the international collection of capital, conducting business without regard to national borders, and concentrating wealth in core nations and among the wealthy. They also influence the global economy and spread cultural values through their worldwide presence. Controversies surrounding these brands involve issues like labor rights, environmental impact, and the potential impact on local cultures.
Step-by-step explanation:
Worldwide, consumers, corporate buyers, governments, activists, and other groups often associate global brands with several characteristics, but three stand out prominently. First, a large share of their capital is collected from a variety of different nations. Second, these corporations conduct their business without regard to national borders, embodying the idea of a global marketplace. Third, they often concentrate wealth in the hands of core nations and already wealthy individuals, sometimes exacerbating economic disparities.
Additionally, these multinational corporations (MNCs) play a key role in the global economy. They are prevalent in the spread of culture and ideas across borders, which is facilitated by the global recognition of their brands. This visibility may lead to the spread of certain political and social values inherent in the culture from which the brand originated, such as the American values of choice and product competition illustrated by the global presence of brands like Levi's, McDonald's, and Coca-Cola.
However, the expansion of these global brands has also sparked controversy and protest. Issues such as labor rights violations, environmental impacts, and cultural imperialism are among the challenges faced by global companies, as seen in the cases involving brands like Coca-Cola. Despite these challenges, global brands continue to navigate the interconnected economy, with many striving to adopt better practices around human rights, the environment, and anti-corruption efforts, as encouraged by initiatives like the United Nations Global Compact.