Business Industrial Revolution: It’s Evolution

The emergence of business activity date back to the ancient days of pre-industrial societies, business was regarded with low esteem because of the prevailing values attached to work in the pre-industrial era. In the centuries, which followed industrialization, significant changes occurred in man’s conception of business people no longer; see business as an illegitimate activity. This new perception of business and its activities paved way for industrialization, in these centuries the prevailing values concerning work changed drastically and by the 18th century, the concept of work hand changed from a demeaning task carried out primarily by slaves to an important indicator of a man’s inherent goodness and worth. During this period of business evolution we have three phases:

The Pre-Medieval Period
The earliest form of business activity can be traced back to the Egyptian economy, which although was almost totally agrarian one, and the major concern was to forecast and utilize the rise and fall of Nile River. But nevertheless witnessed the first large-scale industrial organizations.
These were owned by the Egyptian state and were used for carrying out such projects as irrigation, canal building and the construction of pyramids. Although there was the existence of commerce in the Egyptian economy before the 18th century as indicated in the Old Testament and Babylonian documents, it was until the rise of ancient Greece that trade began to flourish.
The Medieval Period
This was the period between the fall of Roman Empire and the Renaissance. The period was characterized by stagnation and lack of economic and social development. The feudal system dominated the economic life of Europe and the serfs, who were legally free but almost entirely dependent on the mayor lord, replaced the slave at base of the economic social order. During this period the church was dominant institution and prevailed over virtually all areas of human activity, secular and spiritual.
The Industrial Revolution
This was the new economic, religious and political ideas of the later pre-industrial period, combined to produce a catalytic climate, in which the scientific and technological discoveries could contribute to industrialization. The industrial revolution, which stated in England around the 1780’s, was characterized by a monumental event; the substitution of machine power for man power. The industrial revolution started in England, because during this period, England had a stable constitutional government a sensitive to laissez-faire economics, and a strong spirit of self-reliance it was therefore a logical epicenter for industrial changes taking place.
The early entrepreneurs were thus faced with the dilemma of rigorous competition on the one hand and an uncertain labour force on the other. To resolve these, they had to fall back on the structures and principles of older organization –the church and the military and such ideas as centralization, clear hierarchy, specialized division of work, and autocratic leadership was implemented.