INDUSTRAILISATION

Topics: Economic development, Industrial Revolution, Industrialisation Pages: 2 (343 words) Published: June 22, 2015
 INDUSTRAILISATION…
Industrialisation or industrialization is the period of social and economic change that transforms a human group from an agrarian society into an industrial one, involving the extensive re-organisation of an economy for the purpose of manufacturing. Industrialisation (orindustrialization) is the process of social and economic change that transforms a human group from anagrarian society into an industrialone. It is a part of a widermodernisation process, where social change and economic developmentare closely related with technologicalinnovation, particularly with the development of large-scale energyand metallurgy production. It is the extensive organisation of an economy for the purpose of manufacturing. Industrialisation also introduces a form of philosophical change where people obtain a different attitude towards their perception of nature, and a sociological process of ubiquitous rationalisation. Industrialization also helps in satisfying a variety of demands of the consumer's. With modernization of the economy the demand for industrial product has increased considerably. Industrialization brings a change in the socio-cultural environment of the economy. It makes people dynamic, hard-working, mobile, skillful, efficient, and punctual. It brings a change in the way-of life of the people and makes peoplemore commercial. It also provides security to the economy by making it self-dependent. Thus industrialization in a nutshell acts as a catalyst in the smooth process of economic development. There is considerable literature on the factors facilitating industrial modernisation and enterprise development.[3] Key positive factors identified by researchers have ranged from favourable political-legal environments for industry and commerce, through abundant natural resources of various kinds, to plentiful supplies of relatively low-cost, skilled and adaptable labour.

As industrial workers incomes rise, markets for consumer...
Continue Reading

Please join StudyMode to read the full document

Become a StudyMode Member

Sign Up - It's Free