Answer:
In general, globalization decreases the cost of manufacturing. This means that companies can offer goods at a lower price to consumers. The average cost of goods is a key aspect that contributes to increases in the standard of living. Consumers also have access to a wider variety of goods.
Answer:
Businesses are forced to adapt to the changing approaches based on the latest ideologies which further endeavor to strike an appropriate balance between the individual's and the community's rights and interests. By officially acknowledging the involvement and participation of workers and the government in establishing and implementing organizational policies and measures, this move allows businesses to compete globally and also constitutes a significant transition for business leaders, labor, and management. Diversification can be successfully accomplished through working with both local and multinational enterprises and involving the company in international financial institutions.
Explanation:
Globalization refers to the process through which corporations or other organizations strengthen their operations or gain a foothold in other parts of the world.
The Human Development Index (HDI) and the gross domestic product (GDP) are all factors that contribute to globalization (HDI).
Globalization benefits developed countries by allowing businesses to compete on a global scale, as well as the resulting restructuring of production, international trade, and financial market integration
Globalization, according to some economists, aids economic growth and increases international trade; however, other specialists, as well as the general public, believe that the bad effects of globalization exceed the positives.
Globalization, according to critics, is bad for developing countries, small businesses that simply can not compete with multinational organizations, and consumers who face rising manufacturing costs and the danger of jobs being downsized.
