Romulo Yumul Jr.
HRD ELECTIVE 11-1
What is Production Operation Management?
Operations management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services.
Production and Operations Management ("POM") is about the transformation of production and operational inputs into "outputs" that, when distributed, meet the needs of customers
What is the Industrial Revolution?
The Industrial Revolution was the transition to new manufacturing processes in the period from about 1760 to sometime between 1820 and 1840. This transition included going from hand production methods to machines, new chemical manufacturing and iron production processes, improved efficiency of water power, the increasing use of steam power, and the development of machine tools. It also included the change from wood and other bio-fuels to coal. Textiles were the dominant industry of the Industrial Revolution in terms of employment, value of output and capital invested. The textile industry was also the first to use modern production methods. The Industrial Revolution marks a major turning point in history; almost every aspect of daily life was influenced in some way. In particular, average income and population began to exhibit unprecedented sustained growth. Some economists, such as Robert E. Lucas, Jr., argue that the real impact of the Industrial Revolution was that "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 is mentioned by the classical economists, even as a theoretical possibility." Others, however, argue that while growth of the economy's overall productive powers was unprecedented during the Industrial Revolution, living standards for the majority of the population did not grow meaningfully until the late 19th and 20th centuries, and that in many ways workers' living standards declined under early capitalism: for instance, studies have shown that real wages in Britain only increased 15% between the 1780s and 1850s, and that life expectancy in Britain did not begin to dramatically increase until the 1870s. The Industrial Revolution began in Great Britain and spread to Western Europe and the United States within a few decades. The precise start and end of the Industrial Revolution is debated among historians. Eric Hobsbawm held that it 'broke out' in Britain in the 1780s and was not fully felt until the 1830s or 1840s, while T. S. Ashton held that it occurred roughly between 1760 and 1830. Some 20th century historians, such as John Clapham and Nicholas Crafts, have argued that the economic and social changes occurred gradually and the term revolution is a misnomer. This is still a subject of debate among historians. GDP per capita was broadly stable before the Industrial Revolution and the emergence of the modern capitalist economy. The Industrial Revolution began an era of per-capita economic growth in capitalist economies. Economic historians are in agreement that the onset of the Industrial Revolution is the most important event in the history of humanity since the domestication of animals, plants and fire. The First Industrial Revolution evolved into the Second Industrial Revolution in the transition years between 1840 and 1870, when technological and economic progress continued with the increasing adoption of transport steam (steam-powered railways, boats and ships), the large-scale manufacture of machine tools and the increasing use of machinery in steam powered factories Important technological developments
The commencement of the Industrial Revolution is closely linked to a small number of innovations, beginning in the second half of the 18th century. By the 1830s the following gains had been made in important technologies: Textiles – Mechanised cotton spinning powered by steam...
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