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History

Early Management Practices
 
Management has evolved through experience and research during last many years. Different regions on the globe evolved different approaches to handle situations.  
Period| Regions| Management approach|
3000-2400 BC| Sumerians| Development of written records; one of the oldest written law by Akkadian rule, Ur-Nammu| 3000-1000 BC| Egyptians| Pioneered in national government, full civilization, buildings and roads and other infrastructure: Full planning involved| 2700-500 BC| Babylonian| Oldest and complete set of rules by Hammurabi, an Amorite ruler| 1000-200 BC| Greeks| Functional local government, democracy and government| 800 BC-500 AD| Roman| Roman Republic with Senate and councils| 1500 BC-1300 AD| Chinese| Good government, cultural empowerment, flourishing science and arts| 450-1500 AD| Venetians| Laws related to commerce, highly dominant commerce through area|  

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Adam Smith
Adam Smith (baptised 16 June 1723 – 17 July 1790 [OS: 5 June 1723 – 17 July 1790]) was a Scottish social philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment,[1] Smith is the author of The Principles Which Lead and Direct Philosophical Enquiries, Illustrated by the History of Astronomy, prior to 1758, The Theory of Moral Sentiments, 1759, and An Inquiry into the Nature and Causes of the Wealth of Nations, 1776. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work ofeconomics. Smith is widely cited as the father of modern economics and capitalism and is still among the most influential thinkers in the field of economics today.[2] In 2009, Smith was named among the 'Greatest Scots' of all time, in a vote run by Scottish television channel STV.[3] Smith studied social philosophy at the University of Glasgow and at Balliol College in the University of Oxford, where he was one of the first students to benefit from scholarships set up by his fellow Glaswegian John Snell. After graduating, he delivered a successful series of public lectures atEdinburgh, leading him to collaborate with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow teaching moral philosophy, and during this time he wrote and published The Theory of Moral Sentiments. In his later life, he took a tutoring position that allowed him to travel throughout Europe, where he met other intellectual leaders of his day. Smith then returned home and spent the next ten years writing The Wealth of Nations, publishing it in 1776. He died in 1790 at the age of 67.

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Industrial Revolution
The Industrial Revolution was a period from 1750 to 1850 where changes in agriculture, manufacturing, mining, transportation, and technology had a profound effect on the social, economic and cultural conditions of the times. It began in the United Kingdom, then subsequently spread throughout Western Europe, North America, Japan, and eventually the rest of the world. The Industrial Revolution marks a major turning point in history; almost every aspect of daily life was influenced in some way. Most notably, average income and population began to exhibit unprecedented sustained growth. In the two centuries following 1800, the world's average per capita income increased over tenfold, while the world's population increased over sixfold.[2] In the words of Nobel Prize winner Robert E. Lucas, Jr., "For the first time in history, the living standards of the masses of ordinary people have begun to undergo sustained growth ... Nothing remotely like this economic behavior has happened before".[3] Great Britain provided the legal and cultural foundations that enabled entrepreneurs to pioneer the industrial revolution.[4] Starting in the later part of the 18th century, there began a transition in parts of Great...
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