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Effects of Globalization

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Kenji Cruz
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18 views1 page

Effects of Globalization

Uploaded by

Kenji Cruz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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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, quality of 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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