The difference between multinational and international companies

I personally prefer Andrew Hines' definition, which are

• International companies are importers and exporters, they have no investment outside of their home country.
• Multinational companies have investment in other countries, but do not have coordinated product offerings in each country. More focused on adapting their products and service to each individual local market.
• Global companies have invested and are present in many countries. They market their products through the use of the same coordinated image/brand in all markets. Generally one corporate office that is responsible for global strategy. Emphasis on volume, cost management and efficiency.
• Transnational companies are much more complex organizations. They have invested in foreign operations, have a central corporate facility but give decision-making, R&D and marketing powers to each individual foreign market.

(Original Website: Difference between a global, transnational, international and multinational company)

And according to the article conducted by Bartlett and Goshal, who classify company operating foreign interests into 4 types defined them as:

• Global companies 

The GLOBAL company, exemplified by such Japanese firms as Kao and NEC, centralizes key functions – including marketing and finance. Headquarters produces the new technology and disseminates it to subsidiaries. Cost advantages are achieved through economies of scale and global-scale operations. The need for efficiency and economies of scale means that products are developed that exploit needs felt across the range of countries. Specific local needs tend to be ignored.

• Multinational companies

• International companies

Headquarters of INTERNATIONAL company retains considerable control over the subsidiary’s management systems and marketing policy, but less so than in the global company. Products and technologies are developed for the home market, extended to other countries with similar market characteristics, then diffused elsewhere, and the developmental sequence is decided on the basis of managing the product lifecycle as efficiently and flexibility as possible

• Transnational companies 

The TRANSNATIONAL company evolved in the 1980s in response to environmental forces and simultaneous demands for global efficiency, national responsiveness, and worldwide learning. The transnational model combines features of multinational, global, and international models. A product is designed to be globally competitive, and is differentiated and adapted by local subsidiaries to meet local market demands.

Whereas the international company originates the product in the headquarters country and then transfers it to the subsidiary, the transnational might reverse this process. Resources, including technology and managerial talent, might be distributed among subsidiaries and integrated between them through strong interdependencies.

Reference:
Bartlett, C.A. and Ghosal, S. 1989 

Managing Across the Borders: The Transnational Solution, Hutchinson, Business Books.