Answer:
Effects of Globalization
Globalization has both positive and negative effects. On an individual level, globalization affects both the standard of life and the quality of life. On a business level, globalization affects an organization's product life cycle and an organization's balance sheet. Globalization also affects how governments throughout the world create policies affecting areas such as monetary regulation and trade.
Individual Effects
On an individual level, globalization has affected the standard of life and quality of life of individuals and families throughout the world. Standard of living is the level wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area. Quality of life is the degree to which a person enjoys the important possibilities of his or her life. In many instances, qualityof life has improved for those who live in developing nations. For many developing nations, globalization has led to an improvement in standard of living through improved roads and transportation, improved health care, and improved education due to the global expansion of corporations. However, globalization has had a negative effect on individuals who live in developed nations. This is due to the fact that corporations now have the option of establishing manufacturing operations in nations where manufacturing and production costs are less expensive. As a result, many manufacturing jobs leave developed nations and move to developing nations.
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