The Third Industrial Revolution: Impact and Implications - TMGT 471 Assignment, Study Guides, Projects, Research of Business Strategy

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Assignment Week 1 – Home Work

Student Name

TMGT 471

Indiana State University

Dr. Alister McLeod

Submitted: January 25, 2018

Due: You put the due date!!!!!!

Click on the link below to read the article entitled "A third Industrial Revolution" http://www.economist.com/node/

If you are having problems find the article online please see my Tegrity video of how to access the article from the library. YOU ONLY GET ONE CHANCE TO READ THIS ARTICLE FROM YOUR PERSONAL COMPUTER.

Answer the following questions making sure you have a cover page (See the first page of this assignment). Each question should have its answer below it. A sufficient answer is one that is 2 paragraphs in length. External research, cited and a well formatted document in APA 6th edition will get you 100%. If you get a similarity score of 30% or more once you have submitted this work you will automatically get a 0 for this assignment.

1. What is the industrial revolution and how did it change the world we now live in? The industrial revolution is the period of the eighteenth and nineteenth century when machinery was introduced and this turn to make the fast advancement of the industries. This industrial revolution begins in the Britain and later grew in other parts of the world. This revolution is described by the improvement of industries, the massive scale of producing manufacturing goods and utilization of steam power. The industrial revolution has indeed impacted the world we live in now. Our lives would have been much more difficult with it. The inventions of this period were made to provide a better lifestyle. The industrial revolution leads to the change in the life of human beings of those times. Without industrial revolution, the aspects of life we have today would have been absent. We cannot deny the fact that industrial revolution caused both positive and negative impacts. But the sole thing is the change which was brought by the industrial revolution.
2. Do some research and try and figure out what is defined as the second Industrial revolution. Make sure you have at least one external source cited in APA 6 th^ edition for this answer. The second Industrial Revolution began from the end of the nineteenth century to the start of the twentieth century, it was a period of quick industrialization, and this era was also called as a technological revolution. The slowing speed of macro inventions lead to the beginning of the second industrial revolution. Although the inventions of first industrial revolution like the introduction of machine tools in industries, and much more resulted in a massive change in the process of production.

Second industrial revolution aimed to develop innovation in production and manufacturing. This enabled to have systems like water supply systems, sewage systems, road and railway system and much more to be expanded in the primary and minor areas. A new era of globalization took place with the use of this technology and people focusing on new ideas move forward and express their thoughts. The more vital systems introduced in this period was telephone and electricity. The beginning of World War 1 gave an end to the second industrial revolution.

The Internet has made the concept of marginal cost into reality. The consumers are turned now “Prosumers” because they tend to share their stuff like music through file sharing service, YouTube video promotions, knowledge sharing through Wikipedia, news sharing through the social media platforms e.g twitter, facebook, selling of e-books and moreover there are a number of students which are enrolled in online classes and all of this making the concept of zero minimal cost possible.