Industrial Revolutions Overview

Industrial cities faced severe problems like disease outbreaks, inadequate housing, sanitation, and policing.

The rapid growth of cities and the movement of people to urban areas.

The factory system significantly altered daily life and work, leading to new challenges.

An economic system focused on increasing national wealth through exports and limited imports.

The goal of mercantilism was to increase a nation's gold and silver reserves through trade.

A strategy used by developing countries to reduce reliance on developed nations by producing goods domestically.

The main aim of ISI is to protect and strengthen domestic industries by reducing dependence on imports.

ISI often involves government support like tariffs on imports, subsidies to local industries, and loans to encourage domestic production.

A period from the 1700s to the mid-1800s characterized by advancements in steam power, machine tools, and increased production of goods. This revolution led to the rise of factories and a shift towards a more industrialized society.

A period from the mid-1800s to the mid-1900s marked by significant advancements in electricity, internal combustion engines, and mass production techniques. This revolution led to the development of modern technologies like cars, airplanes, and electricity.

A period from the mid-1900s to 1999 characterized by rapid advancements in computerization, globalization, and automation. This revolution led to the increasing use of computers, robotics, and the internet.

A production system that revolutionized the car manufacturing industry by emphasizing efficiency, quality, and continuous improvement. Introduced during the Third Industrial Revolution, it helped to increase production output and reduce waste.

A set of management principles developed by W. Edwards Deming during the Third Industrial Revolution, focused on improving quality and productivity within organizations through continuous improvement and employee empowerment.

A management methodology introduced by Motorola in 1987. It aims to eliminate defects and improve quality by focusing on processes and data analysis. It became associated with the Third Industrial Revolution.

The Third Industrial Revolution led to the rise of multinational companies, globalization, and the transfer of industries to regions with cheaper labor and materials. This resulted in China emerging as a dominant force in the globalized economy.

The current wave of technological advancements characterized by rapid digitalization, automation, and artificial intelligence. It's marked by the increased interconnectedness of devices, the rise of big data, and a focus on sustainability.

A management philosophy that aims to improve product quality and customer satisfaction by involving every employee in the process. It emphasizes continuous improvement and teamwork.

A production system that focuses on eliminating waste (muda) in all operations. It strives for efficiency and effectiveness by minimizing unnecessary steps and resources.

The process of transitioning from an agricultural-based economy to one dominated by manufacturing and industrial production. This shift involves mechanization, mass production, and technological advancements.

Industrialization profoundly changes societies, leading to population shifts (migration from rural areas to cities), economic growth, increased specialization of labor, and technological innovation. It also brings about challenges like pollution and social inequalities.

Industrialization can be driven by factors such as government policies (investment in infrastructure, education, and research), technological inventions (labor-saving machines), entrepreneurial spirit (seeking new opportunities), and demand for goods and services.

China experienced rapid industrialization in the late 20th century, transforming from a mainly agrarian economy to a global manufacturing powerhouse. It's a prime example of how government policies and economic reforms can drive such a transformation.

An economic theory opposing government intervention in business affairs, advocating for free markets and minimal regulation.

When a country specializes in producing goods at a lower opportunity cost, leading to exports.

Using tariffs, quotas, or regulations to restrict imports and protect local industries.

Negative consequences of industrial growth, including environmental damage, wealth inequality, and social issues.

Advocate of Laissez-faire, author of 'Wealth of Nations', promoting free market competition.

Argued that population growth would outpace food production, leading to resource scarcity.

Pollution, resource depletion, and climate change arising from industrial activities.

Poor working conditions, child labor, and wealth inequality resulting from industrialization.