BLOG 6: Research one multinational corporation like Procter and Gamble, Unilever, IBM, Microsoft, Honda and etc. Identify and describe how their subsidiaries are managed and how technology has assisted them in their corporate and/or local operations. Further, identify one Philippine company that has gone worldwide (eg. Jollibee and BENCH) and describe their strategies. Evaluate the strategies of foreign companies with that of Philippine corporations.

MULTINATIONAL COMPANY

HISTORY
For more than 150 years, the familiar signs of Western Union have stood as a trusted symbol for connecting friends, family and businesses around the world.
Known today as an innovator in financial services, The Western Union Company, together with its affiliates Orlandi Valuta and Vigo, has become an industry leader in global money transfer with over 345,000 Agent locations in more than 200 countries and territories. From the roots of our signature telegram business, we expanded and evolved our services in 1871 to offer electronic money transfer. Today, Western Union offers money order, money transfer, payment and prepaid services. While the telegram is a memory, we continue a long history of connecting people around the corner and around the globe with financial services that are fast, reliable and convenient.
Did you know?

Western Union was founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company

The company changed its name to Western Union in 1856 to mark the consolidation of several telegraph lines in what was then the Western-most reaches of the American telegraph system

Western Union completed the first transcontinental telegraph line across North America in 1861

The first successful stock ticker was introduced by Western Union in 1869

Western Union introduced money transfer in 1871

Western Union was one of the original 11 stocks included in the first Dow Jones Average in 1884

In 1896, Western Union provided service to Europe, Northern Africa, North and South America, Australia and Asia

In 1914, Western Union introduced the first consumer charge card

In 1933, Western Union delivered the first singing telegram

Western Union pioneered the first commercial inter-city microwave communications system in 1943

The first commercial satellite in the U.S. was introduced by Western Union in 1974

In 1980, revenue from the money transfer service exceeded telegram service revenue for the first time in Western Union history

In 1993, Western Union introduced the first prepaid, disposable telephone card

Celebrating its 150-year anniversary in 2001, Western Union expanded to more than 100,000 Agent locations worldwide

In 2006, The Western Union Company handled 147 million consumer-to-consumer money transfers and 249 million consumer-to-business transactions.

Services
Western Union does so much more than simply send money. Every day we help people connect with loved ones around the world by offering a fast, reliable and convenient means of transferring money.
Together with its affiliates Orlandi Valuta and Vigo, The Western Union Company provides consumers fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. We operate through a network of more than 345,000 Agent locations in more than 200 countries and territories.

Consumer-to-Consumer Service
Our Consumer-to-Consumer service allows people to send and receive money worldwide, primarily through a global network of third-party Agents who use our multi-currency money transfer processing systems.

We offer consumers a variety of ways to send money through Western Union, Orlandi Valuta and Vigo Agents worldwide. There is an Agent location nearly everywhere—from the biggest cities to the most remote towns. In many countries, we also offer the ability to send money over the Internet or the telephone using a credit or debit card.

We also offer consumers several options for receiving a money transfer. While we pay the vast majority of transfers in cash at Agent locations, in some places we offer payments directly to the receiver’s bank account or a stored-value card.

Walk-in Money Transfer ServiceMore than 90 percent of our transactions are still done in person where consumers receive the attention and expertise of an Agent clerk. The Agent clerk collects cash from a consumer and within minutes, payment is available for pick-up at an Agent location convenient to the receiver. In the United States, many Agent locations also accept debit cards to initiate a transaction. We are continually developing convenient and customized solutions for consumers in a variety of regions.

Online Money Transfer ServiceOur transactional Web site allows consumers to send funds online using a credit or debit card. Additionally, consumers can conveniently check the status of their transfer online.

Telephone Money Transfer ServiceOur Telephone Money Transfer service allows consumers to send funds by telephone without visiting a Western Union Agent location. Consumers may call a toll-free number in the United States or the United Kingdom and use a debit card or credit card to initiate a transaction. The money transfer is then available for pay-out at a participating Agent location.

Mobile Money Transfer ServiceWe are working with mobile phone operators in select countries to introduce money transfers that consumers can send and receive with a cell phone. Recently, we announced three mobile operators that will participate in this initiative – expected to extend the benefits of financial services to many of the world’s families for the first time. The first commercial services began in the second quarter of 2008.

Payout ServicesReceivers can typically pick up available funds within minutes of the sender completing a transaction. In some countries, funds can be sent for next-day payout, bank account delivery or loaded to a stored-value card. In a number of countries in Latin America and the Caribbean, Western Union Agents offer a bank deposit service, in which the paying Agent provides the receiver the option to direct funds to a bank account or to a stored-value card. Vigo also offers Direct to Bank and home delivery service in certain countries.

Consumer-to-Business Service
Our Consumer-to-Business service provides consumers with fast, flexible and convenient ways to send bill payments.

Western Union offers several electronic and cash payment options that allow our consumers to send bill payments on a one-time or recurring basis. Consumers can conveniently send payments for utility bills, auto loans, mortgages, financial and insurance service providers and government entities through our network of third-party Agents and various electronic channels. Consumer-to-Business transactions account for nearly 15% of our total revenue.

For billers, our service provides comprehensive and customizable bill payment solutions that help improve cash flow and reduce costs. In the United States, our Consumer-to-Business segment is experiencing a shift in demand from cash-based, walk-in payment services to electronic payment services.

Payment channels and methods of paymentConsumers can send payments over the telephone or Internet using credit cards, debit cards or through an Automated Clearing House (ACH), depending on the country of origin and the biller. Guaranteed funds for post-paid or prepaid services can also be sent in cash, and in some cases, debit card. Money order payment instruments can be purchased in the United States and Canada and used for monthly bills or catalog purchases.

Other Services
Our other services enhance our portfolio and provide consumers and businesses with additional convenient financial tools.

Western Union is a trusted source not only for money transfer and bill payment services, but also for money orders, prepaid cards and other financial services. Our Agent network offers these other services that allow our consumers to conveniently manage their finances.
Money OrdersMoney orders are a reliable payment choice for those who may not have checking accounts. They can be used for making purchases and paying bills, and can be deposited directly into bank accounts or cashed at check cashiers, some banks and some retailers. Money orders can be purchased at participating Agent locations in the United States and Canada.
Prepaid Cards and ServicesThe Western Union® Prepaid MasterCard® card is sold through our Agent network primarily in the United States and on the Internet. This service allows consumers to load money or receive a direct deposit from their employer onto the card for use at a later date. The card can be used to withdraw money from an ATM or shop online anywhere MasterCard debit cards are accepted.

In addition to debit cards, Western Union enables consumers to pre-pay for mobile phones, Internet access and other services. These “top-up” services allow consumers to store value with service providers that can be accessed by the consumer in the future.

Corporate IncentivesWestern Union® Corporate GiftGramSM gift checks draw on the company’s longstanding expertise in delivering money and messages. Corporate GiftGramSM gift checks offer companies an easy way to recognize employees, clients and customers. They consist of a gift check and recognition certificate customized with a message and the company’s logo.

Global Organization
With more and more people leaving their homelands to make a living in other countries, the value of our services increases immensely and we have committed more resources toward various regions.

The Western Union Company, together with its affiliates Orlandi Valuta and Vigo, touches people around the world with 345,000 Agent locations in more than 200 countries and territories. We are becoming an integral part of the fabric of local communities everywhere. There has never been a greater demand for our services. Hundreds of millions of people currently live outside of their home countries and use Western Union® services to remain connected to their families and homelands. We are committed to bringing our service to every corner of the world.

Consumer Protection
We strive to educate consumers on safeguarding transactions and personal information, and avoiding fraud when using Western Union® services.

Every day, millions of consumers rely on Western Union Money Transfer® services to send money to loved ones near and far. If consumers are sending money to someone they don’t know personally, they could be putting themselves at risk for fraud. At Western Union, we value the consumers who use our services. That’s why we remind consumers to protect themselves and their hard-earned money.

SUAR U. AMBOLODTO