Final answer:
Multidomestic strategy is used by MNCs that operate very independently in different countries, tailoring their products and services to each locale. MNCs influence global economy and politics, and possess considerable power to steer laws and regulations in their favor.
Step-by-step explanation:
Corporations with multiple foreign operations that act very independently of one another are indeed following a multidomestic strategy. This approach by multinational corporations (MNCs), also known as multinational enterprises (MNEs), involves tailoring products, services, and business strategies to each country's specific needs and preferences. MNCs are significant players in the global economy, often with assets that exceed the GDP of some smaller countries where they operate. Their influence can extend to shaping legislation in those countries to be more favorable to their business practices. These corporations play a vital role by providing jobs, often with competitive wages and benefits in developing nations, thereby integrating themselves into various national economies and becoming a critical part of the global economic system.
As transnational actors, MNCs also wield considerable influence on international politics, trade, workers' rights, and environmental policies. They have been pivotal in driving globalization through international trade and investment, bridging economies across national borders.