Mgmt 440--F19 Chapter 2 (2).ppt - Business and Society(MGMT...

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Business and Society (MGMT 440) The Dynamic Environment (Chapter 2) Professor Charles H. Smith Fall 2019
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Deep Historical Forces At Work The book lists several but we will emphasize (code for “only these will be on the exam”) three in this class Industrial revolution – emphasize Inequality Population growth Technology – emphasize Globalization Nation-states Dominant ideologies Great leadership Chance – emphasize
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Deep Historical Force – Industrial Revolution Traditionally, societies relied on subsistence economies and perhaps then some trade. Industrial revolution occurs due to a mixture of conditions such as Sufficient capital, labor and natural resources, ideas and institutions that permitted social mobility and encouraged individual initiative. Existence of political and personal liberties provides opportunity to be creative. In other words, people and businesses had freedom and opportunities to take risks necessary to advance and improve – must risk failure to get ahead. Query – capitalism > communism for an industrial revolution?
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Deep Historical Force – Industrial Revolution cont. Examples of countries that have experienced industrial revolution Britain – early to mid 19 th Century. United States and Western European countries – mid to late 19 th Century. Japan and Soviet Union – 1 st half of 20 th Century. Other Asian countries – 2 nd half of 20 th Century. Industrial revolution results in astounding economic growth, production of material things, and provision of services – see Figure 2.1 on page 26 showing world GDP during 18 th -20 th Centuries.
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Deep Historical Force – Industrial Revolution cont.
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