What is virgin?
Virgin is one of the worlds biggest brand names and it’s founder is one of the best known industry leaders.
No consist of over 400 companies and was originally focused on travel and now includes financial services healthcare and more
How many countries does virgin work with?
Over 50 countries with over 50,000 employes
How does virgin show how global the UK’s economy have become?
Many British companies operate overseas for example BP and almost every country in the world as well as British Airways
What do TNCs like virgin expect?
The free flow of goods and services known as free trade, To employ people to provide services wherever it is cheapest, To invest anywhere with unrestricted flow of capital known as foreign direct investment
What can you do with FDI?
With FDI uk companies can invest abroad but overseas TNCs also invest in the UK, In 2014, the UK received more FDI than any other country in Europe
What big pot in our lives do TNCs play in?
If your family has ever: Bought or rented a Jaguar or Land Rover , Stayed in luxury hotels in London ,Drunk tetley tea , Driven on a frozen road treated with salt ,Then you’ve been helping an Indian TNc and money for its various companies
What has the role of tns increased?
Privatisation
Privatisation
The change in ownership of services such as rubbish collection from the public sector (run by the government or local councils) to the private sector (owned by shareholders)
Why is privatisation politically sensitive?
Some people feel it leads to efficiency of this feel that profit should not be made out of basic needs such as water and health
In the uk where has privatisation been taken place in?
Infrastructure, Local council services, The NHS
Infrastructure
Many UK energy industries are overseas owned as are some water and rail companies
Local council services
You pay council tax for rubbish collection, but your rubbish will be collected by private company e.g. aeolia or serco
The NHS
Although government funds the NHS many services are contracted to private companies to do the work e.g. virgin care
