The document discusses multinational companies (MNCs), which are corporations that operate in more than one country. MNCs both produce and sell goods or services internationally. The document outlines different types of MNCs based on their orientation, such as ethnocentric, polycentric, regiocentric, and geocentric. It also lists some common strategies used by MNCs like licensing, exporting, franchising, joint ventures, and management contracts. Some advantages of MNCs include lower labor costs, expanded markets, and potential for high returns on investment. However, MNCs can also distort economic structures and face political interference.