MNC's are defined to be an enterprise operating in several countries but managed from one country. It engages in various activities like exporting, manufacturing in different countries.

Balanced economic development is made possible through transparent management under corporate governance, All Stakeholders interests are protected and promoted through corporate governance.

1. To keep proper books of accounts and records.
2. To pay taxes regularly

An organisation defines its principles in a written document called code.

Ethics is derived from the Greek word 'ethos' which means a person's fundamental orientation towards life. It governs the behaviour, derived from the moral standards which help to determine right or wrong, good or evil.

1. Any company is referred to as a multinational company or corporation (MNC) when that company manages its operation or production or service delivery from more than a single country.
2. It has its headquarters based in one country with several other operating branches in different other countries.
3. The country where the head quarter is located is called the home country whereas; the other countries with operational branches are called the host countries.
4. Example:IBM

1. Corporate governance specifies the rights and liabilities of different group of people like the chief executives, directors of the board, managers of different departments and other stakeholders.
2. This helps to provide the structure through which the objectives of the company is formulated and their performance is monitored.

1. All business units have realised that ethics is vitally important for the existence and progress of the business as well as the society.
2. It is very important as it improves public image, earns public confidence, and leads to greater success.
3. Ethics and profits go together in the long run. It enhances the quality of life, standard of living and business.

1. Business exists to supply goods and services to the people from social point of view but from individual point of view, the primary objective of any Business unit is to make profit.
2. The individual objective should not be in conflict with societal objective.
3. These two objectives normally contradict each other, as one Business enterprise may be good in individual objective and bad at Societal objective and vice versa.
4. This raises the question of what is right and what is wrong.
5. The subject matter of Ethics is concerned with establishing linkages between individual good and social good. Ethical standards are often enacted into laws.
For Example : Charging fair prices to customers, using fair weights for measurement of commodities, giving fair treatment to workers, earning reasonable profits, etc.

1. Business ethics may be defined as a set of moral standards to be followed by owners, managers and Business people
2. These standards determine the conduct and behaviour of Business people.
3. Business ethics reflects the conduct in the context of Business.

The main features or elements of MNCs are as follows :
1. Considers opportunities throughout the globe though they do the business in a few countries.
2. To invest considerable portion of their assets internationally.
3. They are huge industrial/business organization.
4. It engages in international production and operates plants in a number of countries.
5. They take managerial decisions on a global perspective.
6. They produce in one or a few countries and sell them in most of the countries.
7. Their international operations are integrated into the corporations overall business.

The following are the benefits of corporate governance:
1. Good corporate governance enables corporate success and economic development.
2. Ensures stable growth of organizations.
3. Aligns the interests of various stakeholders.
4. Improves investors confidence and enables raising of capital.
5. Reduces the cost of capital for companies.
6. Has a positive impact on the share price
7. Provides incentive to managers to achieve organizational objectives.
8. Eliminates wastages, corruption, risks, and mismanagement.
9. Improves the image of the company.
10. The organization is managed to benefit the stakeholders.
11. Ensures efficient allocation of resources.
12. Creates a strong brand as an ethical business.

1. India ranks 10th in the world in Factory output.
2. The manufacturing sector Accounts for 27.6% GDP.
3. Privatisation of certain Public sector Industries.
4. Liberalisation also attracted MNC's and encouraged local entrepreneurs.
5. India stands 15th in service output. Increased demand from Foreign consumers for Indian products and services.
6. India has an extensive network undersea fiber-optic cables leading to India becoming the centre for outsourcing of Business process.
7. India has become big employment generator, especially amongst young graduates.
8. India has witnessed sustained Economic development as envisioned by our forefathers.
Top MNC's in India : 
Following are the names of some of the most famous multinational companies:
1. IBM,
2. Microsoft
3. Pepsico
4. Sony
5. Vodafone
6. Reebok
7. Nokia.
The entry of MNC's into India have proved quite beneficial for the growth and development of Indian Economy providing Employment opportunities for the young generation.

International Benchmarks:
Benchmarking is comparing one's business processes and performance metrics to industry bests and best practices from other companies. There are four primary types of benchmarking: internal, competitive, functional, and generic. Internal benchmarking is a comparison of a business process to a similar process inside the organization 1. Select a product, service or process to benchmark.
2. Identify the key performance metrics.
3. Choose companies or internal areas to benchmark.
4. Collect data on performance and practices.
5. Analyze the data and identify opportunities for improvement