is there a reference for this answer for discussion#5?

General Motors is a US company with an international presence and are subject to guidelines, agreements, treaties, and acts that are globally applicable and also of various nations when operating in their countries. TRIPS, international competition laws, MNE Declaration, data protection laws, and employment laws are some of these examples of such parameters which make the global business environment faced by General Motors different from the business environment which exists in the US.

General Motors (GM) is a US-based multinational corporation involved in manufacturing, designing, distributing, and selling vehicles globally. William Durant started General Motors in the year 1908 and it is the biggest automobile manufacturer in the United States.

Laws, Treaties, and Governing bodies that affect or impact General Motors in a global context:

1. Governing Body: International Labour Organization

2. Treaties: TRIPS

3. Law - Competition Law

4. Acts International Financial Reporting Standards (IFRS)

1. Governing Body:

International Labour Organization uses an instrument called the MNE Declaration (Multinational Enterprises Declaration) which provides guidelines on industrial relations, employment, training of the workforce, conditions of work and life, and making general policies. The guidelines contained in MNE Declarations have been adopted by employers (including GM) and countries globally. The purpose of the MNE Declaration is to promote multinational corporations to contribute to social and economic progress and helps in building a responsible workforce practice. General Motors religiously follow the same.

2. Treaties:

The Agreement on Trade-Related Aspects of intellectual property rights (TRIPS) is an agreement between World Trade Organization member countries. This international agreement introduced laws regarding intellectual property in the multilateral trading systems and is viewed as the most through agreement on intellectual property. This agreement provides guidelines on disputes about intellectual property and enforcement procedures. All the General Motors intellectual property rights are protected under the TRIPS agreement and in case of any issues about violation of intellectual property rights this agreement provides guidelines for dispute resolution. Also, the company is not involved in any kind of copyright or patent infringement.

3. Laws:

Competition law ensures fair competition in the market by preventing companies from engaging in anti-competitive behaviors. General Motors is subject to competition laws of the host countries because of its presence of operations, while the fairness of competition at the international level is ensured by international competition agreements. The company is not involved in any anti-competitive practice. It fairly deals with its competitors in the most ethical manner complying with the laws prevalent in the country of its operation.

4. Acts:

GDPR ( General Data Protection Regulation) provides guidelines on how to collect and store personal data of individuals who are residents of the European Union (EU). General Motors collecting personal data of individuals who reside in the EU through its website are required to follow guidelines provided by GDPR. General Motors considers such regulations when building strategies for its operations in EU nations.

Differentiating:

IFRS are accounting rules developed by IASB. Companies working in countries where IFRS is adopted are required to prepare financial statements according to these rules, however, General Motors is required to prepare its financials according to the GAAP (Generally Accepted Accounting Principles) standards when it is conducting its business in the US. Additionally, General Motor is subject to a 40% corporate tax rate if it runs its operations in India while the federal corporate tax rate applicable to General Motor in America is 21%. Also, when GM is operating in India, it does not have strict regulations to follow in terms of copyright and patent laws as compared to the USA where these laws are strict, and compliance is mandatory.