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119-722: Pirelli & C. S.p.A. is an Italian multinational tyre manufacturer based in the city of Milan , Italy. The company, which has been listed on the Borsa Italiana since 1922, is the 6th-largest tyre manufacturer, and is focused on the consumer production of tyres for cars, motorcycles and bicycles. It is present in Europe, the Asia-Pacific, Latin America, North America, and the post-Soviet states , operating commercially in over 160 countries. It has 19 manufacturing sites, across 13 countries, and

238-404: A 100-watt amplifier, a 100-millimetre (3.9 in) mid-woofer, a 25-millimetre (0.98 in) tweeter and also offers Bluetooth 4.0 with AptX for wireless connectivity. IXOOST is the manufacturer of P Zero Sound speaker, which majorly manufactures Motorsports-themed audio systems. The wheel-shaped speaker costs €2400, which is equivalent to about $ 2,800. Multinational corporation Most of

357-448: A 2009 purchase of mobile specialist Starent Networks . Cisco continued to be challenged by both domestic competitors Alcatel-Lucent , Juniper Networks , and an overseas competitor Huawei . Due to lower-than-expected profit in 2011, Cisco reduced annual expenses by $ 1 billion. The company cut around 3,000 employees with an early-retirement program who accepted a buyout and planned to eliminate as many as 10,000 jobs (around 14 percent of

476-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

595-410: A cloud API platform that simplifies the addition of real-time communications and collaboration capabilities within applications. On June 30, 2015, Cisco acquired privately held OpenDNS , the company best known for its DNS service that adds a level of security by monitoring domain name requests. On August 6, 2015, Cisco announced that it has completed the acquisition of privately held MaintenanceNet,

714-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

833-565: A decade virtually unchanged. The company was quick to capture the emerging service provider environment, entering the SP market with product lines such as Cisco 7000 and Cisco 8500. Between 1992 and 1994, Cisco acquired several companies in Ethernet switching , such as Kalpana , Grand Junction and most notably, Mario Mazzola 's Crescendo Communications, which together formed the Catalyst business unit. At

952-543: A definitive agreement to acquire Sourcefire for $ 2.7 billion. On August 14, 2013, Cisco Systems announced it would cut 4,000 jobs from its workforce, which was roughly 6%, starting in 2014. At the end of 2013, Cisco announced poor revenue due to depressed sales in emerging markets, caused by economic uncertainty and by fears of the National Security Agency planting backdoors in its products. In April 2014, Cisco announced funding for early-stage firms to focus on

1071-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

1190-430: A market capitalisation of $ 6.69 billion. On May 29, 2024 Silk Road Fund began the total sale of its shareholding. On May 30, 2024, the share price fell as a result of the sale of the entire stake of Silk Road Fund. While Tronchetti Provera's Camfin strengthened its shareholding together with other Italian investors. Pirelli shareholders as of December 2022: The list of Pirelli Board of Directors: The Pirelli Calendar

1309-734: A market capitalization of $ 224 million, and was listed on the NASDAQ stock exchange. On August 28, 1990, Lerner was fired. Upon hearing the news, her husband Bosack resigned in protest. Although Cisco was not the first company to develop and sell dedicated network nodes, it was one of the first to sell commercially successful routers supporting multiple network protocols. Classical, CPU-based architecture of early Cisco devices coupled with flexibility of operating system IOS allowed for keeping up with evolving technology needs by means of frequent software upgrades. Some popular models of that time (such as Cisco 2500 ) managed to stay in production for almost

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1428-480: A meaningful share of the packet-optical market, revenues were still not on par with US$ 7 billion price tag paid in 1999 for Cerent . Some of acquired technologies (such as Flip from Pure Digital) saw their product lines terminated. Cisco announced on March 15, 2012, that it would acquire NDS Group for $ 5bn. The transaction was completed on July 30, 2012. In January 2013, Cisco Systems acquired Israeli software maker Intucell for around $ 475 million in cash,

1547-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1666-578: A move to expand its mobile network management offerings. In the same month, Cisco Systems acquired Cognitive Security, a company focused on Cyber Threat Protection. Cisco also acquired SolveDirect (cloud services) in March 2013 and UK -based Ubiquisys (mobile software) in April 2013 for $ 310 million. Cisco acquired cyber-security firm Sourcefire , in October 2013. On June 16, 2014, Cisco announced that it has completed

1785-612: A network of around 14,600 distributors and retailers. In 2015, China National Chemical Corp. Ltd. ( ChemChina ) took controlling interest of Pirelli; with the Chinese state-owned company agreeing to maintain the tyre company's ownership structure until 2023. Pirelli has been sponsoring sport competitions since 1907 and is the exclusive tyre partner and supplier for the Grand-Am Rolex Sports Car Series for 2008–2010, FIA Formula One World Championship for 2011–present and for

1904-570: A new road cycling tyre range, P ZERO Velo. In September 2017, the company announced its intentions to sell up to 40 per cent of its equity capital in an initial public offering as it plans to return to the Milan stock exchange in October. In March 2019 Pirelli announced a new range of mountain biking tyres, called Scorpion. In 2021, Pirelli introduced 18-inch tyres for the new aerodynamic and technical changes for 2022 in Formula One . As of May 2024, Pirelli has

2023-513: A product design consulting firm that helped develop Cisco's Flip video camera. Also in 2010, Cisco became a key stakeholder in e-Skills Week . In March 2011, Cisco completed the acquisition of privately held network configuration and change management software company Pari Networks. Although many buy-ins (such as Crescendo Networks in 1993, Tandberg in 2010) resulted in acquisition of flagship technology to Cisco, many others have failed—partially or completely. For instance, in 2010 Cisco occupied

2142-603: A slick but with a radial structure. Subsequently, Porsche started using the same tyres with the Porsche 911 Turbo . In 1988, Pirelli acquired the Armstrong Rubber Company, which was headquartered in New Haven, Connecticut , US for $ 190 million. In 2000, Pirelli sold its terrestrial fibre optic cables business to Cisco and its optical components operations to Corning , for 5 billion euro. It invested, through Olimpia, part of

2261-522: A subsidiary of PT Astra International for the construction of a motorcycle tyre plant with a total investment of $ 120 million. 60 per cent of shares will be held by Pirelli. Pirelli hoped to strengthen its presence in the largest motorcycle market in the world, Southeast Asia which has 250 million motorcycles. In July 2018, Pirelli launched a Formula One wheel-shaped Bluetooth speaker, P Zero Sound. The Bluetooth speaker measures 330-millimetre (12.9 in) in diameter, weighs 9.5 kg (21 pounds) and has

2380-501: A variety of companies to spin products and talent into the company. In 1995–1996 the company completed 11 acquisitions. Several acquisitions, such as Stratacom , were one of the biggest deals in the industry when they occurred. During the Internet boom in 1999, the company acquired Cerent Corporation , a start-up company located in Petaluma, California , for about US$ 7 billion. It was

2499-901: Is also included in the S&;P 500 , Nasdaq-100 , the Russell 1000 , and the Russell 1000 Growth Stock indices. Cisco Systems was founded in December 1984 by Sandy Lerner along with her husband Leonard Bosack . Lerner was the director of computer facilities for the Stanford University Graduate School of Business . Bosack was in charge of the Stanford University computer science department's computers. Cisco's initial product has roots in Stanford University's campus technology. In

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2618-430: Is due to end after the 2027 Formula One World Championship. The Italian tyre manufacturer introduced a colour coding system to help identify the tyre compounds used by drivers during races. Each compound has its own colour, which appears on the sidewalls of the tyre. Since the 2019 season, Pirelli has used three colours to identify its dry-weather P Zero tyres: white for hard, yellow for medium, and red for soft. As well as

2737-454: Is nothing without control" was the well-known slogan of Pirelli Tyre Company, and was featured in numerous television and print advertisements. Pirelli is the long-serving main sponsor of Italian football club Inter Milan , having sponsored the Italian team since the 1995–96 season . Pirelli has a history of sponsoring football teams. Pirelli is well known for its long-term primary sponsorship of

2856-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

2975-407: Is published annually, featuring actresses and fashion models. The calendar also features the work of fashion photographers, including Richard Avedon , Peter Lindbergh , Annie Leibovitz , and Patrick Demarchelier . The Pirelli Internet ional Award is given annually for the best international multimedia involving the communication of science and technology conducted entirely on the Internet. "Power

3094-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

3213-517: The 2018 French Grand Prix . The company was the title sponsor of the Pirelli World Challenge from 2011 to 2018. Pirelli supported rally with their FIA Pirelli Star Driver program as an initiative to support young rally drivers. It was the sole supplier in the top tier of World Rally Championship in 2008–2010, and is now a co-supplier with Michelin . Since its first involvement in WRC in 1973,

3332-809: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

3451-604: The FIM World Superbike Championship . Pirelli's headquarters are located in Milan's Bicocca district . Pirelli is now solely a tyre manufacturing company. In the past, it had been involved in fashion and operated in renewable energy and sustainable mobility . On 4 October 2017, Pirelli returned to the Milan Stock Exchange after focusing its business on pure consumer products (tyres for car, motorcycles, and bicycles) and related services, and separating

3570-451: The Internet of things (IoT), domain security , videoconferencing , and energy management with products including Webex , OpenDNS , Jabber , Duo Security, Silicon One, and Jasper . Cisco Systems was founded in December 1984 by Leonard Bosack and Sandy Lerner , two Stanford University computer scientists who had been instrumental in connecting computers at Stanford. They pioneered

3689-1002: The OpenFog Consortium , to promote interests and development in fog computing . In January 2016, Cisco invested in VeloCloud, a software-defined WAN (SD-WAN) start-up with a cloud offering for configuring and optimizing branch office networks. Cisco contributed to VeloCloud's $ 27 million Series C round, led by March Capital Partners. In February 2017, Cisco launched a cloud-based secure internet gateway, called Cisco Umbrella, to provide safe internet access to users who do not use their corporate networks or VPNs to connect to remote data centers. Immediately after reporting their fourth-quarter earnings for 2017, Cisco's price-per-share value jumped by over 7%, while its earnings per share ratio increased from 60 to 61 cents per share, due in part to Cisco's outperformance of analyst expectations. In September 2017, Chambers announced that he would step down from

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3808-519: The cross ply technique (very wide tyres with a reduced sidewall height), or radial tyres , which were too narrow to withstand the Stratos' power and did not provide enough grip. Both were unusable for the Lancia Stratos, as the radials were destroyed within 10 km, and the slicks too stiff. Lancia asked Pirelli for a solution, and in 1975 Pirelli created a wide tyre with a reduced sidewall height like

3927-739: The "Silicon One" ASIC chip with the G100 model reaching a speed of 25.6 Tbit/s. The Silicon One competes against the Tomahawk series by Broadcom the Nvidia Spectrum , the Marvell Teralynx and the Intel Tofino. In 2023, the Silicon One G200 will offer a speed of 51.2 Tbit/sec. In March 2020, SVP and GM of Enterprise Networking David Goeckeler left to become CEO of Western Digital . and

4046-473: The 1950s, Alberto Pirelli commissioned the building of a skyscraper, Pirelli Tower , in the same Milanese area that housed the very first Pirelli factory during the 19th century. In 1974, Pirelli invented the "wide radial tyre ", upon a request from the Lancia rally racing team for a tyre strong enough to withstand the power of the new Lancia Stratos . At that time, racing tyres were either slick tyres made with

4165-650: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

4284-687: The 35th America's Cup (2017). Pirelli sponsored Alpine World Ski Championship and Ice Hockey World Championship IIHF from 2017 to 2021. The company is also sponsor of the Italian Ski Team and of the Swiss Ski Team. Pirelli also was a sponsor of the Los Angeles Dodgers of Major League Baseball from 2014 to 2020. Pirelli was the official tyre partner and supplier of the World Rally Championship from 2008 to 2010 until

4403-582: The 73,400 total employees before curtailment). During the 2011 analyst call, Cisco's CEO John Chambers called out several competitors by name, including Juniper and HP. On July 24, 2012, Cisco received approval from the EU to acquire NDS (a TV software developer) for US$ 5 billion. In 2013, Cisco sold its Linksys home-router unit to Belkin International Inc., signaling a shift to sales to businesses rather than consumers. On July 23, 2013, Cisco Systems announced

4522-546: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

4641-467: The Formula One tyres were introduced for the 2017 season. The most obvious visual difference was an increase of width by 25%, both front and rear, increasing from 245-mm to 305-mm at the front and 325-mm to 405-mm at the rear. The actual rim size remained unchanged from the traditional 13 inches. The faster cornering speeds as a result of this change imposed significantly increased loads on the tyres. Pirelli

4760-557: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

4879-721: The Internet of Things. The investment fund was allocated to investments in IoT accelerators and startups such as The Alchemist Accelerator , Ayla Networks and EVRYTHNG . Later that year, the company announced it was laying off another 6,000 workers or 8% of its global workforce, as part of a second restructuring. On November 4, 2014, Cisco announced an investment in Stratoscale . On May 4, 2015, Cisco announced CEO and Chairman John Chambers would step down as CEO on July 26, 2015, but remain chairman. Chuck Robbins , senior vice president of worldwide sales & operations and 17-year Cisco veteran,

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4998-615: The Italian football club Inter Milan between 1995 and 2021. Pirelli previously appeared as a sponsor on the shirts of the Maltese football club Valletta for a short time. In reference to Brazil striker Ronaldo ’s usual goal celebration of both arms outstretched, Pirelli ran a 1998 commercial in which he replaced the figure of Christ from the Christ the Redeemer statue that towers over his home city of Rio de Janeiro while in an Inter Milan strip. It

5117-561: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

5236-545: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

5355-506: The Pirelli Rigid inflatable Boat . They have models ranging from 30 to 50 feet, including small tenders (X and J Models). Their most recent and popular collaboration has been with German Luxury Car Tuner Mansory . The new collaboration has been showcased to the public at the 2024 Cannes Boat Show and 2024 Genoa Boat Show . In April 2012, Pirelli & C. SpA signed a joint venture agreement with Indonesian counterpart PT Astra Autoparts

5474-513: The Reactivity team and product portfolio under its Datacenter Switching and Security Technology Group, which reported to the company's then senior vice president Jayshree Ullal . Throughout the mid-2000s, Cisco also built a significant presence in India, establishing its Globalization Centre East in Bangalore for $ 1 billion. Cisco also expanded into new markets by acquisition—one example being

5593-578: The Rome Call for AI ethics at the Vatican, endorsing the document's principles for responsible and ethical AI use. For the fiscal year 2023, Cisco reported earnings of US$ 12.6 billion, with an annual revenue of US$ 57 billion, an increase of 10.6% over the previous fiscal cycle. Cisco's shares traded at over $ 43 per share, and its market capitalization was valued at US$ 213.2 billion in September 2018. Cisco acquired

5712-458: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

5831-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

5950-550: The US-based company best known for its cloud-based contract management platform ServiceExchange. On the same month, Cisco acquired Pawaa, a privately held company in Bangalore, India that provides secure on-premises and cloud-based file-sharing software. On September 30, 2015, Cisco announced its intent to acquire privately held Portcullis Computer Security, a UK-based company that provides cybersecurity services to enterprise clients and

6069-527: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

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6188-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

6307-609: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

6426-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

6545-561: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

6664-738: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

6783-498: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

6902-588: The acquisition of ThreatGRID, a company that provided dynamic malware analysis and threat intelligence technology. On June 17, 2014, Cisco announced its intent to acquire privately held Tail-f Systems, a leader in configuration management software. On April 2, 2015, Cisco announced plans to buy Embrane, a software-defined networking startup. The deal will give Cisco Embrane's software platform, which provides layer 3–7 network services for things such as firewalls, VPN termination, server load balancers and SSL offload. On May 7, 2015, Cisco announced plans to buy Tropo,

7021-408: The aim of making the races more exciting and entertaining. However, the brief from the sport's organisers has changed over the years, as the cars themselves evolved with the introduction of the turbo hybrid era in 2014. Pirelli has faced controversy on a number of occasions in Formula One, especially during the 2013 British Grand Prix, which featured multiple tyre failures. Pirelli subsequently changed

7140-462: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

7259-535: The business of industrial tyre. Pirelli's eponymous calendar has been published since 1964, and has featured the contributions of many famous photographers over the years such as Helmut Newton , Steve McCurry , Peter Lindbergh , Richard Avedon , Bruce Weber , Herb Rits , and Annie Leibovitz . The company's US-based headquarters are located in Rome, Georgia . Founded in Milan in 1872 by Giovanni Battista Pirelli (1848–1932),

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7378-728: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

7497-604: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

7616-424: The company initially specialised in rubber and derivative processes and also made scuba diving rebreathers and dry suits used by Italian frogmen during World War II. Thereafter, Pirelli's activities were primarily focused on the production of tyre and cables (for energy and telecommunications ). In 2005, Pirelli sold its cable division to Goldman Sachs , which changed the new group's name to Prysmian . In

7735-458: The company withdrew to focus on its Formula One commitments. Pirelli returned to the championship in 2014 , albeit only partnering tyres for a few private teams as Michelin was the major tyre partner and supplier. Pirelli stepped up their involvement in the championship when they signed a deal to supply tyres to all Junior WRC participants, with its champions receiving a Ford Fiesta R5 with free tyres, fuel and free rally registration package for

7854-417: The company's past and to promote business culture as an integral part of Italy's national cultural assets. In March 2015, it was announced that Pirelli shareholders had accepted a €7.1 billion bid from ChemChina, together with Camfin and LTI, for the company. The transaction was completed and the company was delisted in November 2015. In May 2017, it was announced that Pirelli returns to the world of cycling with

7973-477: The company's product lines. Limits of IOS and aging Crescendo architecture also forced Cisco to look at merchant silicon in the carrier Ethernet segment. This resulted in a new ASR 9000 product family intended to consolidate the company's carrier Ethernet and subscriber management business around EZChip -based hardware and IOS-XR . In March 2007, Cisco acquired Reactivity Inc, a privately held XML gateway provider based in Redwood City, California . Cisco placed

8092-409: The concept of a local area network (LAN) being used to connect distant computers over a multiprotocol router system . The company went public in 1990 and, by the end of the dot-com bubble in the year 2000, had a market capitalization of $ 500 billion, surpassing Microsoft as the world's most valuable company. Cisco stock (CSCO) was added to the Dow Jones Industrial Average on June 8, 2009, and

8211-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

8330-429: The construction of the tyres to prevent further incidents, switching to Kevlar belts. At the 2015 Belgian Grand Prix, a tyre on Sebastian Vettel's Ferrari suffered from a blowout at 320 km/h (200 mph). Immediately after the race Pirelli claimed that excessive wear caused the blowout but following a more detailed analysis, the company said that in fact, a cut had caused the tyre failure. A number of major changes to

8449-417: The control tyre supply in the British Superbike Championship from 2008 until at least 2010. Pirelli officially replaces Dunlop as the sole tire supplier for Moto3 and Moto2 starting in 2024 . This was announced by Dorna Sports via the official MotoGP website. The Pirelli and Dorna contract has a duration of three seasons. Pirelli has partnered with Italian Boat Manufacture Sacs Tecnorib Spa to create

8568-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

8687-476: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

8806-658: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Cisco Cisco Systems, Inc. (using the trademark Cisco ) is an American multinational digital communications technology conglomerate corporation headquartered in San Jose, California . Cisco develops, manufactures, and sells networking hardware , software , telecommunications equipment and other high-technology services and products. Cisco specializes in specific tech markets, such as

8925-401: The dry-weather slick tyres, there are two wet-weather grooved tyres: green for the intermediate and blue for the full wet. These tyres are branded Cinturato, a name that dates back to the 1950s. At the start of Pirelli's Formula One tenure in 2011, the company was given the technically challenging task of designing tyres that degraded rapidly in order to promote more pit stops and overtaking, with

9044-402: The early 1980s students and staff at Stanford, including Bosack, used technology on the campus to link all of the school's computer systems to talk to one another, creating a box that functioned as a multiprotocol router called the "Blue Box". The Blue Box used circuitry made by Andy Bechtolsheim , and software that was originally written at Stanford by research engineer William Yeager . Due to

9163-467: The executive chairman role at the end of his term on the board in December 2017. On December 11, 2017, Robbins was elected to succeed Chambers as executive chairman while retaining his role as CEO, and Chambers was given the title of "Chairman Emeritus". Reuters reported that "Cisco Systems Inc's (CSCO.O) product revenue in Russia grew 20 percent in 2017, ahead of Cisco's technology product revenue growth in

9282-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

9401-493: The government sectors. On October 26, 2015, Cisco announced its intent to acquire ParStream, a privately held company based in Cologne, Germany, that provides an analytics database that allows companies to analyze large amounts of data and store it in near real-time anywhere in the network. On October 27, 2015, Cisco announced that it would acquire Lancope , a company that focuses on detecting threat activity, for $ 452.5 million in

9520-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

9639-686: The impossibility of re-exporting. In February 2023, Cisco also wrote off the debt of the Russian mobile operator MTS in the amount of 1.234 billion rubles. As expected, these are unpaid amounts for previous equipment deliveries. In 2023, Cisco announced plans to begin manufacturing equipment in India. On 15 February 2024, Cisco announced it would lay off more than 4,000 employees, or 5% of its global workforce, and lowered its annual revenue forecast due to economic challenges and reduced demand from telecom and cable service providers. On 24 April 2024, Chuck Robbins, CEO of Cisco, met with Pope Francis and signed

9758-516: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

9877-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

9996-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

10115-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

10234-463: The manufacturer won 181 events, and produced 25 WRC Driver Champions including Colin McRae (1995), Petter Solberg (2003), Sebastien Loeb (2008–2010). Pirelli would again become the sole tyre supplier in all three tiers in 2021 . Pirelli has also been a sponsor of rally and the late gymkhana driver Ken Block 's Hoonigan Racing Division since 2010. Pirelli was sponsor of Emirates Team New Zealand in

10353-488: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

10472-531: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

10591-404: The mid-to-late 1990s. Cisco introduced products ranging from modem access shelves (AS5200) to core GSR routers, making them a major player in the market. In late March 2000, at the height of the dot-com bubble , Cisco became the most valuable company in the world, with a market capitalization of more than $ 500 billion. As of July 2014, with a market cap of about US$ 129 billion, it

10710-557: The migration to new high-end hardware CRS-1 and software architecture IOS XR . As part of a rebranding campaign in 2006, Cisco Systems adopted the shortened name "Cisco" and created "The Human Network" advertising campaign. These efforts were meant to make Cisco a "household" brand—a strategy designed to support the low-end Linksys products and future consumer products. On the more traditional business side, Cisco continued to develop its routing, switching and security portfolio. The quickly growing importance of Ethernet also influenced

10829-596: The most expensive acquisition made by Cisco to that date, and only the acquisition of Scientific Atlanta has been larger. In 1999, Cisco also acquired a stake for $ 1 billion in KPMG Consulting to enable establishing Internet firm Metrius founded by Keyur Patel of Fuse. Several acquired companies have grown into $ 1Bn+ business units for Cisco, including LAN switching, Enterprise Voice over Internet Protocol (VOIP) platform Webex and home networking . The latter came as result of Cisco acquiring Linksys in 2003 and in 2010

10948-573: The next season's World Rally Championship-2 . Pirelli subsequently returned full time to the WRC since 2021 season. Pirelli was also partnered Grand-Am Rolex Sports Car Series from 2008 until 2010 before being replaced by Continental AG in 2011. The company has been the official supplier of the GT World Challenge America since 2011 and the GT World Challenge Europe Endurance Cup since 2013. Pirelli has been

11067-457: The other so-called BRIC countries of Brazil , China and India ." On May 1, 2018, Cisco Systems agreed to buy AI-driven business intelligence startup Accompany for $ 270 million. As of June 2018, Cisco Systems ranked 444th on Forbes Global 2000 list, with $ 221.3 billion market cap. In 2019, Cisco acquired CloudCherry, a customer experience management company, and Voicea, an artificial intelligence company. In 2019, Cisco also introduced

11186-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

11305-595: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

11424-572: The resulting liquidity to become a majority shareholder in Telecom Italia in 2001, maintaining this position until 2007. In 2002 the company started a range of Pirelli-branded clothing, watches and eyewear. In 2005, Pirelli sold its Cables, Energy Systems and Telecommunications assets to Goldman Sachs and the newly formed company was named Prysmian . In the same year, 2005, Pirelli opened its first tyre production plant in Shandong province, China . This

11543-552: The same tread width as before, but diameter has increased from 660 millimetres to 720 millimetres. The sidewall height is also reduced to give the tyres a more modern low-profile look. Pirelli is the only allowed tyre brand in the FIM Superbike World Championship since 2007 (along with its support classes, such as the Supersport World Championship ). Pirelli has also been awarded the contract for

11662-498: The sole tyre supplier in Formula One since 2011 following Bridgestone 's decision to withdraw from the role at the end of 2010 . Pirelli previously competed in Formula One from 1950 – 1958 , 1981 – 1986 and 1989 – 1991 . Pirelli also supplies tyres for the FIA Formula 2 Championship (formerly GP2 Series ), FIA Formula 3 Championship (formerly GP3 Series) and F1 Academy , that form the feeder series to Formula One. Pirelli's deal

11781-495: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

11900-435: The time, the company envisioned layer 3 routing and layer 2 ( Ethernet , Token Ring ) switching as complementary functions of different intelligence and architecture—the former was slow and complex, the latter was fast but simple. This philosophy dominated the company's product lines throughout the 1990s. In 1995, John Morgridge was succeeded by John T. Chambers . The Internet Protocol (IP) became widely adopted in

12019-725: The title sponsor of the new ground. This was because the new stadium, named Pirelli Stadium lies next to the Pirelli factory in Burton-upon-Trent , Staffordshire , England. In 2009, Pirelli became the title sponsor of the Chinese Super League (CSL), China's top-tier football league. In 2012, the company became a major sponsor of the Russian Cup . Pirelli is the event title sponsor of the Spanish and Hungarian Grands Prix and sponsored

12138-545: The underlying architecture, and its ability to scale well, Yeager's well-designed invention became a key to Cisco's early success. In 1985, Bosack and Stanford employee Kirk Lougheed began a project to formally network Stanford's campus. They adapted Yeager's software into what became the foundation for Cisco IOS , despite Yeager's claims that he had been denied permission to sell the Blue Box commercially. On July 11, 1986, Bosack and Lougheed were forced to resign from Stanford and

12257-417: The university contemplated filing criminal complaints against Cisco and its founders for the theft of its software, hardware designs, and other intellectual properties. In 1987, Stanford licensed the router software and two computer boards to Cisco. In addition to Bosack, Lerner, Lougheed, Greg Satz (a programmer), and Richard Troiano (who handled sales), completed the early Cisco team. The company's first CEO

12376-484: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

12495-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

12614-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

12733-463: Was Bill Graves, who held the position from 1987 to 1988. In 1988, John Morgridge was appointed CEO. The name "Cisco" was derived from the city name San Francisco , which is why the company's engineers insisted on using the lower case "cisco" in its early years. The logo is intended to depict the two towers of the Golden Gate Bridge . On February 16, 1990, Cisco Systems went public with

12852-649: Was announced as the next CEO. On July 23, 2015, Cisco announced the divestiture of its television set-top-box and cable modem business to Technicolor SA for $ 600 million, a division originally formed by Cisco's $ 6.9 billion purchase of Scientific Atlanta . The deal came as part of Cisco's gradual exit from the consumer market, and as part of an effort by Cisco's new leadership to focus on cloud-based products in enterprise segments. Cisco indicated that it would still collaborate with Technicolor on video products. On November 19, 2015, Cisco, alongside ARM Holdings , Dell , Intel , Microsoft and Princeton University , founded

12971-424: Was consequently asked to produce tyres with less degradation that were more resistant to overheating, for the fastest cars in Formula One history. A far-reaching alteration to the Formula One technical regulations for 2022, covering every aspect of the car, prompted another significant change to the tyres. With an imminent move to 18-inch rims after more than 50 years of the 13-inch size, Pirelli's 2022 tyres maintain

13090-522: Was controversial with the Catholic Church. Pirelli's sponsorship of football teams is not limited to Europe, South America is a key market and as a result, successful clubs have also been sponsored by the tyre company. The Brazilian team Palmeiras , Uruguayan team Peñarol and Argentinian side Vélez Sársfield all had Pirelli as a shirt sponsor. When English football club Burton Albion Football Club built their new stadium in 2005, Pirelli became

13209-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

13328-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

13447-534: Was integrated into the Cisco Security business unit. Ironport's Senderbase was renamed as Sensorbase to take account of the input into this database that other Cisco devices provide. SensorBase allows these devices to build a risk profile on IP addresses, therefore allowing risk profiles to be dynamically created on http sites and SMTP email sources. In 2010, Cisco bought Starent Networks (a mobile packet core company) for $ 2.9 billion and Moto Development Group,

13566-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

13685-617: Was replaced by Todd Nightingale, head of Cisco Meraki . In October 2022, Cisco announced a partnership adding the Microsoft Teams app to its meeting devices. In 2022, Cisco completely curtailed sales of its equipment in Russia due to Russian invasion of Ukraine , and completely discontinued service for already-sold devices. In April 2023, it became known that the company had destroyed equipment, spare parts, and even vehicles and office furniture worth 1.86 billion rubles (about $ 23 million) due to

13804-576: Was still one of the most valuable companies. The perceived complexity of programming routing functions in silicon led to the formation of several startups determined to find new ways to process IP and MPLS packets entirely in hardware and blur boundaries between routing and switching. One of them, Juniper Networks , shipped their first product in 1999 and by 2000 chipped away about 30% from Cisco SP Market share. In response, Cisco later developed homegrown ASICs and fast processing cards for GSR routers and Catalyst 6500 switches. In 2004, Cisco also started

13923-509: Was supplemented with new product line dubbed Cisco Valet . Cisco announced on January 12, 2005, that it would acquire Airespace for US$ 450 million to reinforce the wireless controller product lines. Cisco announced on January 4, 2007, that it would buy IronPort in a deal valued at US$ 830 million and completed the acquisition on June 25, 2007. IronPort was best known for its IronPort AntiSpam, its SenderBase email reputation service and its email security appliances. Accordingly, IronPort

14042-473: Was the beginning of the group's production complex in the country. In 2006, Pirelli chose Slatina for its first tyre production plant in Romania , expanding the facility in 2011. In 2010, Pirelli completed its conversion to a pure tyre company by selling Pirelli Broadband Solutions and spinning off the real estate assets of Pirelli Re. Fondazione Pirelli was established in the same year to safeguard and celebrate

14161-503: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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