MODERN BUSINESS in Comparative Perspective (EXAM PREPARATION) Essay

MODERN BUSINESS in Comparative Perspective (EXAM PREPARATION) - Essay ExampleThis was happened between the seventeenth and 18th centuryIn the late 17th century, the United Kingdom (UK) began the industrial revolution. Before industrialization, the people used to live in the rural area practicing farming. However, the countries had distinctive advantage in the manufacturing industry, especially in textile industry. Moreover, The cultivation of the steam engine played important roles in ensuring an improvement in the banking industry. However, the UK banking industrywas lack of intermediation.In the early 18th century, the United States (US) began the industrial revolution. After the civil war, the US industry was changed drastically. The railroads distributed goods and products everywhere therefore, the production level was change magnitude. Before industrialization, the organizational structure was under hierarchy structure. However, when the population in the cities increased afte r revolution, the country was decreased between rich and poor. Moreover, increasing in US industries improved in the banking industry. The US banking industry supported many industries along with introducing the stock markets.Both early-industrialized countries focused on invention and innovation. The UK and US were creatively used in the textile and automotive industry with adequate support of the monetary institutions where started growth of economies. Moreover, the manufacturing industries were set in these countries that marked the growth in the market share.Late or newly, industrialization refers to those countries whose level of economic development is between the ontogenesis and the first world classifications (Wyatt, 2009).This means that these countries have moved from the agriculture based economy to the industrialized urban economy. Some of the countries that are industrialized include Germany, China, and Japan.The development of the railway network fastened the transpor tation of goods from one place to another. In addition,