1. Integration: What It Is, What It Isn’t, and Why You Should Care
Prior to the Industrial Revolution, business organizations were far smaller and simpler than they are today. Most businesses, such as family farms, merchant trading rooms, and artisan workshops, were owned and operated by a close-knit group of individuals who sold their goods and services to others within a local community. People specialized in a single trade or craft, exchanged their outputs with others who lived and worked nearby, and sought mainly to provide for family necessities. However, three key innovations that together characterized the Industrial Revolution shifted this model of economic behavior dramatically. ...
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