A introduction on the role of business, and the role of stakeholders in business.
What is the 1st, 2nd 3rd and 4th Industrial Revolution
Purpose of business and the role of business in society
Stakeholder Theory
● Reading:
https://www.weforum.org/agenda/2016/01/the-fourth-industrial-re
volution-what-it-means-and-how-to-respond/
● The Fourth Industrial Revolution 2024 by Stephen Haag (Pgs. 1-12)
● Thousands of years up until 1750s-ish
● Land was power
● Cottage industries
● Bespoke industries
● Most people lived on the land and off the land (small play on words)
First Industrial Revolution
● 1750s through 1840s-ish
● Steam and water power came along
● Mechanization
● Movement towards cities to get factory jobs
Second Industrial Revolution
● 1870s through early 20th century
● Electricity
● Steel production
● Better power grids
● Even more people in the cities
, ● Mass production: consumer goods
Third Industrial Revolution
● 1950s through today
● Microprocessor
● Computer technology
● Information processing
● The internet
● Mobile/Social
Where We’re Going . . .
The Fourth Industrial Revolution
● Internet of Things (IoT)
● Artificial Intelligence (AI)
● Extended Reality, XR (augmented, mixed, virtual)
● Distributed Ledger and Cryptocurrency
● Autonomous Vehicles
● Additive Manufacturing (3D Printing)
And Much More . . .
● Digital Twins
● Geo-Engineering
● Bio-Technology
● Neuro-Technology
● Quantum Computing
● 5G
● Drones
● Cybersecurity
4th Industrial Revolution
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