MNEs: BBC Article

What powers did the East India Company possess?

It could levy taxes, raise armies, and control ports, acting as a state within a state.

Which major ports did the East India Company own?

Ports like Singapore and Penang, and it helped develop Mumbai, Kolkata, and Chennai.

How many local recruits did the East India Company maintain in India?

An army of 260,000 local recruits.

What parallels are drawn between the East India Company and modern corporations?

Similarities in global reach and political influence, akin to tech giants like Google and Amazon.

What was the hiring process like at the East India Company?

Extremely competitive, based on connections and patronage, with only white males eligible.

What financial barriers did new hires face at the East India Company?

New hires had to post a bond, typically £500, and higher posts required larger bonds.

What was the purpose of the East India College established in 1806?

To professionalize staff and train imperial administrators.

What architectural style was the East India Company's London headquarters built in?

Neoclassical architecture, featuring a six-column portico and corporate symbols.

What were the living conditions for employees at the East India Company?

Some lived at headquarters with families, while factory workers lived on-site under strict supervision.

What privileges did overseas employees of the East India Company have?

They could conduct private trade alongside company duties, a significant financial perk.

What was a common practice among East India Company officials regarding stock?

Insider trading, using private market knowledge to profit from EIC stock.

How did the East India Company handle corporate entertainment?

Extravagant official dinners and additional funds for entertaining clients were common.

What was the salary range for clerks at the East India Company in 1815?

New clerks earned £40/year, while after 39 years, they could earn £600/year.

What were the working hours like for employees at the East India Company?

Typically from 7 a.m. to 8 p.m., six days a week, with no annual leave initially.

What were some job satisfaction issues faced by East India Company employees?

Work was often tedious, with high mortality rates for those stationed abroad due to dangers.

What ethical issues were associated with the East India Company?

Insider trading, corruption, and lobbying, resembling modern corporate scandals.

What was the final takeaway regarding the East India Company?

It was a pioneer of corporate power and globalization, foreshadowing modern debates on multinational responsibility.