(4)The inventions, machines, and processes of the Industrial Revolution transformed business and management.
(5)With the industrial innovations in factory-produced goods, transportation, and distribution, big business came into being.
(6)New ideas and techniques were required for managing these large-scale corporate enterprises.
(7) Today, business and management continue to be transformed by high technology.
(8)In order to keep pace with the increased speed and complexity of business, new means of calculating, sorting and processing information were invented.
(9)An interesting description of the modern era is the Information Age that describes the general use of technology to transmit information.
(10)Managers realized that they could profit from immediate knowledge of relevant information.
(11) Organizations are two or more people working together in a structured, formal environment to achieve common goals.
(12)Managers provide guidance, implementation, and coordination so those organizational goals can be reached.
(13)The modern manager coaches employees of the organization to develop teamwork, which effectively fulfills their needs and achieves organizational objectives.
(14)The traditional autocratic organization with its hierarchical system of management and an overbearing "boss" that forces performance out of people is no longer needed.
(15)The modern manager provides an atmosphere of empowerment by letting workers make decisions and inspiring people to boost productivity.