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However in the second industrial revolution the machines were simple mechanical devices as compared to the previous industrial technology. This is true because today labor is more satisfied with using machines as compared to the last revolution. New products were invented, and many key advances were taken place in the structure of mass production (Vallas, Finlay and Wharton, 81). These changes were so influential in the industry that the phase after 1860 was called second industrial revolution.
The engineers and scientists applied new scientific knowledge to the industry due to which the secrets of physics and chemistry have widely opened. Because of better understandings of chemistry and physics, many great industries were established and benefited on the scientific proceedings such as chemicals, steel and petroleum. Advances in the study of magnetism and electricity provided the source for a huge electrical industry. These innovative industries were much larger and more dynamic compared to the previous industries.
The era of electricity started in 1882 when Thomas Edison established a method of electric lighting in the city of New York. Today every machine is run by means of electricity. Many large companies were conquered by the electrical industry that which built up new products, manufactured and then promoted them. The production was increased massively due to the use of new technology by the chemical and steel industries. More workers were employed, and the use of machinery also increased due to the rapid increase in the size of factories.
Every stage of production was included under a single business structure by these industries. Competition was increased, and source of raw materials and retail outlets were obtained by these industries (Vallas, Finlay and Wharton, 85). Thing which actually strikes is U.S. steel and Standard Oil took control of all phases of developing a product from mining and drilling to distributing it to the end user. Because of this, U.S. had experienced a substantial economic supremacy and the government of United States took actions to reduce their monopolies in steel and petroleum.
However because of the bigger size of businesses, managers in large organizations were managing many things and therefore they had to face enormous challenges. The decision makers today are able to manage control due to the advancement in transportation and communications. These advancements have helped me as an assessor because it allows me to communicate easily and quickly. These advancements have helped me a lot and made me consistent in my work. Because of these advancements I am pleased to perform my tasks more efficiently and with ease.
Inventions such as electric telegraph by Samuel Morse and telephone by Graham Bell made a massive impact on the industrial revolution. The electric telegraph was used in the stock exchanges and railway systems which conveyed commercial information regarding markets and prices. Telephone emerged as an indispensable and essential tool for managers to communicate and make contact with the broadly isolated parts of their businesses. New management methods were invented which emphasized central power, planning, and effective methods of production.
Huge progress was made in the methods of mass production by the Second Industrial Revolution. Majority of the companies utilized compatible parts and tools of machines. Steam power was replaced by the electric power in the factories; it was inexpensive, quick and more
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