HISTORY CASE STUDY

History Case Study

The Industrial Revolution is an essential event in the history of the human world. The Industrial Revolution is a reformation to a new manufacturing process in the United States and Europe between the time interval of 1760 to 1820 and continuing up to 1840 (Spear 2016). The shift incorporated moving from methods of hand production to machines, production of iron, manufacturing of new chemicals, rise in the use of water power and steam power, development of machine tools and the rise in the use of mechanised factory systems. The Industrial Revolution led to an unavoidable increase in the rate of growth of the population. The initial Industrial Revolution started in the country of Great Britain during the time of the 1700s to produce goods in high quantities with the help of innovation and machine manufacturing (Stearns 2020). This study focuses on the internal and external analysis of the event of the Industrial Revolution. The internal investigation of the event would be performed with the case study assignment help of SWOT analysis, and the external study would be undertaken with the support of PESTEL analysis.

Reason for doing this case study

The event of Industrial Revolution initiated in the Great Britain and spread throughout the whole world. However, the American Industrial Revolution is widely known as the Second Industrial Revolution between 1820 and 1870 (Horn 2016). The phase of the whole Industrial Revolution saw improvements in textile manufacturing, agriculture with evolution in incorporating railroads, power plants and steamships (Griffin 2018). The revolution has affected the cultural, social and economic environment worldwide (Philbeck and Davis 2018). Thus, it can be understood that Industrial Revolution is an essential topic in the history of humanity. It is necessary to understand the strengths, weaknesses, opportunities and threats of the event to bring in more such revolutions in the future to improve the growth of the economy. Furthermore, the political, economic, social, technological, environmental, and legal factors are essential to understand the cause of the event and how such factors can give rise to future revolutions. All the aspects of the event need to be examined to reach the correct analysis. you can access our essay plagiarism checker for a glitch-free experience.

Background

The Industrial Revolution occurred almost 200 years ago. However, the period has left profound impacts on the lifestyle of people and the evolution of business. The system of factories that developed during the Industrial Revolution is the primary cause of capitalism in the present world and the modern cities of the society (Mokyr 2018). Before the industrial revolution, most of the people around the world, including the citizens of America, earned their livelihood with the help of farming and sustaining in rural regions. After the advancement in factories, individuals of the society started working in factories and organisations in the urban area for the first time in history (Hartwell 2017). However, people's wages were considerably less, and the people's sustaining conditions were very harsh. Despite the lesser salary, working for a business paid better amounts than farming. The efficiency in the production of commodities improved. The steam engine Revolution is an example of the industrial revolution (De Pleijt, Nuvolari and Weisdorf 2020). The steam engine decreased the time required to manufacture different products. More production efficiency would reduce the price of products considerably, opening the door of the market to new customers.

SWOT Analysis and Case Study of Historical

The SWOT analysis includes strengths, weaknesses, opportunities and threats of the event.

Strengths

• Increase of production level: Before the industrial revolution, most of the products were manufactured by hand. After the introduction of the industrial revolution, the production of goods improved due to innovation in factories. It allowed better production of commodities. The quality of living of individuals also improved (Harley 2018).
• Creation of competition:There was a creation of free-market economies due to the ability to manufacture multiple products. Instead of buyers being dependent on a single business or a provider to provide them with the goods or services they wanted, they can opt for various products to meet their needs (Desmet, Greif and Parente 2020).
• Improvement of processes virtually in any sector:After the industrial revolution, the buildings were built in a better manner. Transportation no longer needed a horse, and clothing could be made more durable. The food products became cheaper.
• Reduced effects on borders:The industrial revolution has made the mode of transportation cheaper and more accessible. This has improved the pattern of trade and commerce more than that before the industrial revolution (Huberman, Meissner and Oosterlinck 2017).

Weaknesses

• Transforming the world from rural culture to urban culture: Due to the industrial revolution, most people moved out of their rural households to remain closer to the factories where they can land up better job opportunities. This has made the accessibility of food products more difficult.
• Unaware about the effects of pollution:The industrial revolution is a primary source of global and atmospheric pollution. The coal industry generates almost 1.7 million tons of carbon emissions (Hanlon 2016).
• Brutal working conditions:People were forced to work for long hours at a lesser wage and fewer breaks. This led to the cause of stress, diseases and deaths.
• Not a worldwide phenomenon:The industrial revolution was not experienced by all the countries simultaneously. The poorer nations depend on the commodities and services produced by other nations.

Opportunities

• Increased job opportunities: The industrial revolution has increased the scope of job opportunities. Before the industrial processes, jobs were mainly dependent on educational studies, unique talents and family traditions that individuals possessed. When factories were built around the world, it allowed people to earn their livelihoods in a way that is different from the past (Kayembe and Nel 2019).
• Inspired innovation:Through the industrial revolution, individuals attained a tremendous amount of wealth. For instance, Andrew Carnegie created wealth through the development in the steel industry that made him one of the wealthiest people. Because of the revolution's opportunity to generate wealth, many individuals wanted to innovate and create a chance to take advantage of the offerings of their era.

Threats

• Depletion of natural resources: The processes that are performed after the industrial revolution requires more natural resources. Most of the inventions require fossil fuels to function in a better manner. Fossil fuels are finite according to the general definitions, that signifies that it would get depleted because of enormous usage. Unless there is a development of technologies to replace the complete dependency on fossil fuels in different sectors, the world might turn into an undeveloped state shortly.
• Poaching of local jobs:Profit became the centre of attraction after the industrial revolution. Businesses wanted to hire those workers that can work under low wages. This process limited the requirement the individual skill and craftsmanship so that people can start to conform to the needs of the businesses instead of embracing individuality.

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PESTEL Analysis

PESTEL analysis is used to understand the external factors responsible for or influenced by the industrial revolution.

Political Factors

• Allowances provided by the government
• A better understanding of the requirements of the production process
• Transformation in the policies implemented by the government
• Roles played by the local government
• Rules and regulation
• Stability in the political scenario of the countries involved (Grajzi and Murrell 2021)

Economic Factors

• Economic interventionist policies
• Spending made by the government to promote the industrial revolution
• Incomes earned by the workers in the factories
• Rate of deflation and inflation
• Worldwide pricing of commodities and in the local market
• Manufacturing in the local market

Social Factors

• The attitude of the citizens of the country
• Compassionate support in terms of finance
• A better understanding of treaties or contracts signed between government and society.
• The population of the society and their genders
• Health standard of the citizens (Buer 2018)

Technological Factors

• Setting up facilities for research and development
• Generating products based on the wants of the citizens of the countries
• Employing different partners of the supply chain
• Ease of the payment mode

Environmental Factors

• Weather types in the countries
• Changes in the climatic conditions in the regions around the world
• Efforts implemented by the government to reduce pollution caused by Industrial Revolution
• Endangerment of species in the biodiversity

Legal Factors

• Rules related to the safeguarding of information and intellectual property rights (Pearson 2017)
• Treating all the workers in the factories and businesses fairly
• Abiding by the rules and regulations related to health and safety.
• Maintenance of affordable price and good quality

These are the general facts of the PESTEL analysis that has affected the Industrial Revolution and would help in further revolutions for worldwide growth.

Conclusion

The Industrial Revolution has enhanced the growth of the economy by bringing in innovations in technology. It has also increased the mode of trade and commerce and has improved the job opportunities for people. This has led to a rise in household income. The economy of different countries has seen considerable growth due to the industrial revolution. However, the industrial revolution has also faced some drawbacks that harmed the sustainability of the worldwide economy. The benefits of the industrial revolution did not reach the whole world. The workers were forced to work at a lower wage and for long hours. The industrial revolution is also the primary source of global warming. Fossil fuel was an essential component of the industrial revolution that has affected air quality. Hence, the countries should consider all these facts before bringing in further processes.

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