Final answer:
A global company operates across multiple countries with standardization, while a multinational company adapts to each market's needs and preferences.
Step-by-step explanation:
A global company is typically one that operates in multiple countries and has a standardized approach to its products, services, and operations across those countries. It focuses on achieving consistency and economies of scale by standardizing processes, products, and branding. For example, McDonald's is a global company that operates in numerous countries and provides the same menu and experience worldwide.
In contrast, a multinational company (MNC) is one that has a presence in multiple countries but allows for flexibility and adaptation in each market. MNCs adjust their products, services, and operations to meet the specific needs and preferences of each country. An example of an MNC is Unilever, which tailors its products and marketing strategies to the cultural and economic context of different countries.
While both global and multinational companies operate internationally, the key difference lies in their approach to standardization and adaptation. Global companies prioritize consistency and efficiency, while MNCs prioritize localization and market responsiveness.