Holicent
VIP Contributor
Industrialization has had a massive impact on business. As countries industrialize, many people begin to work in factories and make goods for sale, rather than growing their own food or making their own clothes. This changes the market for goods, as well as how goods are made.
1. Industrialization means more people can afford to buy things because they no longer have to make all of their own clothes and food themselves. People who learn new skills in factories can sell those skills for money, which is generally easier than trying to grow your own food. People who work in factories can afford to buy factory-made clothes and food, rather than having to make all their own or go without. It also made alot of products available.
2. Industrialization creates an entirely new marketplace for goods, as well as entire new markets for the materials that go into industrial goods (like steel). Because the demand for factory-made stuff is so high during industrialization, companies that sell this stuff generally see enormousprofits which means they're able to invest in more machinery or equipment to make even more stuff.
3. The impact of industrialization on business cannot be overstated. This is because many industries do not have the ability to innovate or to adapt to change at the same rate as other sectors. As a result, they are left behind and they become vulnerable to competition from other companies that have the resources and the capacity to innovate in order to remain competitive in today's market.
1. Industrialization means more people can afford to buy things because they no longer have to make all of their own clothes and food themselves. People who learn new skills in factories can sell those skills for money, which is generally easier than trying to grow your own food. People who work in factories can afford to buy factory-made clothes and food, rather than having to make all their own or go without. It also made alot of products available.
2. Industrialization creates an entirely new marketplace for goods, as well as entire new markets for the materials that go into industrial goods (like steel). Because the demand for factory-made stuff is so high during industrialization, companies that sell this stuff generally see enormousprofits which means they're able to invest in more machinery or equipment to make even more stuff.
3. The impact of industrialization on business cannot be overstated. This is because many industries do not have the ability to innovate or to adapt to change at the same rate as other sectors. As a result, they are left behind and they become vulnerable to competition from other companies that have the resources and the capacity to innovate in order to remain competitive in today's market.
