GMS 200 Chapter Notes - Chapter 2: Child Labour, Industrial Revolution, Human Capital

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Peter Rambert

Document Summary

The activities associated with management (planning, organizing, leading, controlling) are older than recorded history. Historical records indicate that people have been getting things done through others since at least biblical times. Prehistoric people also practiced management in order to secure shelter, direct hunting expeditions, and cultivate land. Old world europe in the middle ages, serfs (peasants) served the overlord on the land. New world americas african slaves, indigenous peoples, indentured laborers from. Child labor was exploited in the coalfields and factories of europe industrial revolution 18th/19th centuries. In england, the factory system and manufacturing replaced agriculture. In the late 18th century, innovations in mining iron ore ushered in the first industrial revolution. The industrial revolution generated major economic productivity and wealth creation. Workers were (still are) an indispensable resource to be utilized in wealth creation. To be profitable, human resources (workers) along with capital, plant, equipment, and land have to be managed.