International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

Management Philosophy in Family Business
Yaşar Akça, Ph.D.

In the literature, the industrial revolution is pointed to as the emergence point of management philosophy in enterprises. The beginning point of the industrial revolution is the development of the steam engine by James Watt (1736-1819). Using the magic power of steam in each mine and factory, the steam engine increased production and reduced total costs. Thus, the steam engine also started a chain of events that would enrich a country. It has reshaped all areas, especially the economy and working life. Human labor and simple hand tools have been replaced by machine power. Until this period, production took place in small workshops, while factories were established with the industrial revolution and many workers began to work together in indoor spaces. The traditional style of production has disappeared and it was switched to bulk manufacturing, which refers to fabrication production. New technical inventions have also led to an increase in production.

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