Which term best defines the change in social and economic organization that resulted from the replacement of hand tools with machines and from the development of large scale manufacturing?

What are manufacturing technology?

Manufacturing is the use of tools and labor to make things for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale. These finished goods are sold directly to end users, or used for manufacturing other, larger products. Manufacturing takes place under all types of economic systems. In a free market economy, manufacturing is usually directed toward the mass production of products for sale to consumers at a profit. In a collectivist economy, manufacturing is more frequently directed by the state to supply a centrally planned economy. In free market economies, manufacturing occurs under some degree of government regulation. Modern manufacturing includes all intermediate processes required for the production and integration of a product's components. Some industries, such as semiconductor and steel manufacturers use the term fabrication instead. The manufacturing sector is closely connected with engineering and industrial design. Examples of major manufacturers in the United States include General Motors Corporation, Ford Motor Company, Chrysler, Boeing, Gates Rubber Company and Pfizer. Examples in Europe include Airbus, Daimler, BMW, Fiat, and Michelin Tyre.

Explain concept scope and objectives of Industrial Relations?

1. To enhance the economic status of workers.2. To reduce conflict of the organization.3. To make good relation with subordinates.4. To develop relation with other.5. To participate in decision making.6. To extent and maintain industrial democracy.7. To mitigate the demands of employees' & to harmonize labour welfare.8. To protect the interests of the employees by following the code of discipline.

Discuss the socio economic and technological perspective of Industrial Relations.?

The socio economic perspective of industrial relations is that the growth in industry will help a country's economy. In terms of technology, the greater technology that a country has involved in its industry will also help the country grow.Ê

What is the advantage and disadvantage of contract manufacturing?

Advantage: Can be Cost-EffectiveThe use of contract manufacturers means that the hiring firm does not need to purchase expensive manufacturing facilities, equipment, machinery, raw materials or hire specialized labor. This not only allows the hiring firm to focus solely on sales, advertising and marketing, it allows a firm that is comparatively more efficient at manufacturing to carry out the process. As a result, hiring firms often benefit from economies of scale and the purchasing power of large manufacturers. All of these factors lower production costs.Advantage: Divides RiskAnother benefit of contract manufacturing is it spreads the risk of developing a new product across multiple companies. Were a company to carry out all aspects of production single-handedly, it would be taking a huge gamble on the success of that product. As companies would essentially live or die on the success of a new product, risk-taking and innovation would be disincentivized.Disadvantage: Binding ContractsOnce a contract is signed with a manufacturer, the hiring firm essentially calls all the shots. This can lead to serious problems for the reputation of the manufacturer if the wrong firm is partnered with. Differences in quality standards can lead to disputes. Cost-cutting behavior on the part of the hiring firm (who cannot control labor costs) can result in the use of lower quality materials, which can compromise the overall quality of the product. Consequently, through no fault of their own a manufacturer can be linked to an inferior product, possibly damaging their future business prospects.Disadvantage: Job LossesContract manufacturing is essentially a form of outsourcing, much of which occurs overseas. The practice of global outsourcing is commonly criticized by both economic nationalists and domestic labor advocates. Critics accuse transnational firms of moving jobs overseas that would otherwise be filled by domestic workers. The shift in U.S. manufacturing from factories in the beltway to cheaper labor markets in Mexico, China and India has been sharply criticized as it has put many workers out of the job--many of which are too old to be retrained in new sectors.

What is the definition of expanding industry?

An industry whose firms earn economic profits and for which an increase in output occurs as new firms enter the industry.

Which term best defines the change in social and economic organization that resulted from the replacement of hand tools with machines and from the development of large scale manufacturing?

Add your answer:

What are manufacturing technology?

Explain concept scope and objectives of Industrial Relations?

Discuss the socio economic and technological perspective of Industrial Relations.?

What is the advantage and disadvantage of contract manufacturing?

What is the definition of expanding industry?

What is the motto of Economic Cooperation Organization?

What dose OECD stand for?

OECD full form?

What does OECD mean?

What has the author Rorden Wilkinson written?

What does OECD stand for?

Which organization provides loans to poorer nations for economic development?

Which organization provides loans to poorer nations to economic development?

What organization provides loans to poorer nations for economic development?

What two international organization in Mexico?

When was the unitied nations formed and why?

What organization was set up in order to encourage economic development and global trade growth?

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