| Abstract: | The “new” global capitalism is transforming the ways in which commerce is conducted and organized. Business enterprises have to perform and compete in a largely unregulated global market economy if they are to survive, let alone prosper, and contend with higher levels of financial and political risks. Transnational Corporations (TNCs) have come to occupy a pivotal position in the world economy, commanding immense financial resources and employing tens of thousands throughout the world, and are active participants in global political and economic affairs. TNC executives—the global corporate elite—crisscross the planet as they manage local, national, and international relationships, and represent and advance their global interests in myriad international conferences and meetings. TNCs are now interacting with states and international governmental organizations on a broad array of issues and problems (many far removed from the core business). As global actors with distinct and clear interests, they have had to develop their own representational mechanisms to manage the complex relationships that mark today's global system. |
