MGMT 1030 Lecture Notes - Lecture 3: Poor Law Amendment Act 1834, Porton, Newcomen Atmospheric Engine

• School: York University
• Department: Management
• Course: MGMT 1030
• Professor: Andrew Thomson

Document Summary

Increases in agricultural productivity, new transportation method development (canals), rise of urban society, growth of factory system. Communication and transportation revolution (telegraph, railroads, internal combustion engine), modern corporate structure. Rise of service economy, international finance/trade transactions, computer introduction. Steam engines, factory produced items e. g. cotton textiles, ironware. Steel, chemicals, wide array of consumer goods (automobiles, home appliances) Continuously improved until efficient enough to power cotton mills; vast profits bankrolled building of british empire changed nature of power + made waterwheel unneccesary: use of coke instead of charcoal to refine iron ore. Coke created from coal with fewer impurities = better/cleaner source of heat for making more superior oil in large quantities: early factories. Factory system began in silk sector with john lombe"s 5-storeymill in derby (1721: ground/1st floor = circular silk-throwing machines based on italian precedents. 3rd/4th/5th floor = winding machines; everything powered by horizontal/vertical shafting by water wheel.