The Industrial Revolution

The Industrial Revolution introduced new management practices, such as division of labor, factory systems, and scientific management principles.

The Industrial Revolution led to significant economic growth, as it created new industries, increased productivity, and expanded trade and global markets.

The challenges included poor working conditions, low wages, child labor, urbanization issues, and social inequalities.

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<p>Effective management is essential for business success as it enables efficient utilization of resources, enhances employee performance, fosters innovation and adaptability, and ensures strategic alignment. It helps in achieving competitive advantage, meeting customer needs, and maximizing profitability.</p> Signup and view all the answers

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