I might be generalising but for me the but difference is culture, culture, culture. In a local company, mgmt will generally be narrowly focused on things like bottom line, profit and performance. In an MNC, these are focused on too, but people growth, happiness of working, and lifestyle are also given attention.

Apart form this, I think if the mgmt of a company is from Europe, and the mgmt style trickles down to the lower levels, you have this culture. However many MNCs these days here in M'sia have been taking more local mgrs with a 'local mindset' hence they end up losing some of the culture and openness.