English Summary

Essay on Industries

The progress of a country is to a great extent measured by its industrial development. To be a strong power in the world, a country needs to be industrially advanced too. Although agriculture has its own importance and provides the basic necessities of life, it alone cannot take a country forward.

Even to modernize and improve agriculture, industrialization is necessary. The modern equipment that is used by farmers is produced by industries. Industries in India contribute to more than half of the national income Items of daily use like toothpaste, soaps, processed foods, medicines, etc. are manufactured by industries.

The population of India is so large that we need many such industries to produce enough material so that things are available in plenty and at reasonable prices. Goods can be exported after they are manufactured in various industries. Quality is maintained by the manufacturers.

Goods should be highly sophisticated so that they capture the world market. To survive in the world, every country needs to be noticed and respected for what it produces and contributes to the world market.

Cars and electronics manufactured in Japan have flooded world markets. Their high quality is greatly applauded and Japan has almost become a superpower in the world because of its advanced industrial development Industries also serve a country in times of war.

In this nuclear age, unless a country has war-based industries, it cannot survive in the world. The only thing that has to be looked after is the pollution that results from industrialization. The government must also keep this in mind, and we as citizens of India too must guard against polluting our air to dangerous limits.

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essay on types of industries

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Essay on Industry

Students are often asked to write an essay on Industry in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Industry

Understanding industry.

An industry is a sector of the economy that produces goods or services. Industries can be classified into three types: primary, secondary, and tertiary.

Types of Industries

Primary industries involve the extraction of raw materials, like farming or mining. Secondary industries transform raw materials into products, like manufacturing cars. Tertiary industries provide services, like teaching or nursing.

Importance of Industry

Industries are vital for economic growth. They create jobs, contribute to the GDP, and promote innovation. Industries also fulfill our daily needs and wants by providing various goods and services.

Challenges Faced by Industries

Industries face challenges like environmental concerns, labor issues, and competition. Therefore, they must continually adapt and innovate to thrive.

250 Words Essay on Industry

The evolution of industry.

The term ‘industry’ encompasses a broad spectrum of human activities related to the production of goods and services. The evolution of industry from agrarian societies to today’s technologically advanced era is a testament to human ingenuity and adaptability.

The Industrial Revolution

The Industrial Revolution of the 18th and 19th centuries marked a significant turning point. The advent of machinery and factories revolutionized production methods, leading to a surge in economic growth. It set the stage for the modern industrial landscape, characterized by mass production and global trade.

Industry in the Modern Era

In the 20th century, the focus shifted towards automation and digitization. The rise of the Information Technology industry transformed not only the means of production but also the nature of products and services. Today, software, data, and digital services are as vital to the economy as traditional goods.

The Fourth Industrial Revolution

We are now in the midst of the Fourth Industrial Revolution, characterized by the fusion of technologies that blur the lines between the physical, digital, and biological spheres. This revolution, driven by advancements in Artificial Intelligence, Robotics, the Internet of Things, and Quantum Computing, is reshaping industries and economies.

The industry, as a human endeavor, is continuously evolving, driven by technological advancements and societal changes. As we move further into the 21st century, it’s crucial to understand the profound impacts of these industrial transformations on our economy, society, and environment.

500 Words Essay on Industry

Introduction.

Industry forms the backbone of any economy, acting as a catalyst for its growth and development. It refers to the production of an economic good or service within an economy. The industrial sector encompasses a wide range of activities, from manufacturing to high-tech services, each contributing to the economic fabric of society.

The industrial landscape has evolved significantly over centuries. The First Industrial Revolution, marked by mechanization and steam power, paved the way for mass production. The Second Industrial Revolution introduced electricity and assembly lines, increasing efficiency. The Third brought in digitalization and automation, while the Fourth, or Industry 4.0, is currently reshaping industries through advanced technologies like Artificial Intelligence (AI), the Internet of Things (IoT), and robotics.

Industry 4.0

Industry 4.0 signifies the ongoing transformation of traditional industries due to digitization. It is characterized by interconnected systems where machines interact with each other and with humans in real-time. This revolution is enabling unprecedented levels of automation and efficiency, but also presents new challenges in terms of cybersecurity, data privacy, and workforce adaptation.

The Role of Industry in Economic Development

Industries play a pivotal role in economic development. They provide employment, foster innovation, and contribute to GDP. Moreover, industries stimulate the growth of other sectors, such as services and agriculture, through demand for inputs and the creation of infrastructure. However, the benefits of industrialization must be balanced against potential environmental impacts and social inequalities.

Industry and Sustainability

As the world grapples with climate change and resource scarcity, industries are increasingly expected to adopt sustainable practices. This involves minimizing waste, reducing energy consumption, and implementing circular economy principles. Sustainable industrial practices not only protect the environment but also create opportunities for innovation and competitive advantage.

The Future of Industry

The future of industry is marked by continuous innovation and adaptation. The integration of AI, IoT, and other advanced technologies will further revolutionize industrial processes. Simultaneously, industries will need to navigate challenges such as regulatory changes, geopolitical uncertainties, and the need for sustainable practices. As such, the future industrial landscape will be shaped by a complex interplay of technological progress, environmental considerations, and socio-economic factors.

In conclusion, the industry plays a vital role in economic growth and societal development. Its evolution, from the First Industrial Revolution to the ongoing Industry 4.0, reflects the continuous quest for efficiency and innovation. Looking ahead, the industry must balance technological advancements with sustainability and inclusivity to ensure a prosperous and equitable future for all.

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essay on types of industries

Logo for LOUIS Pressbooks: Open Educational Resources from the Louisiana Library Network

Chapter 11: Industry

David Dorrell and Todd Lindley

image of factory in Greece

Figure 11.1   Factory in Katerini, Greece ; Author | Jason Blackeye; Source | Wikimedia Commons; License | CC BY SA 4.0.

STUDENT LEARNING OUTCOMES

By the end of this section, the student will be able to:

Understand: the origins and diffusion of industrial production

Explain: the impact of industry on places

Describe: the industrial basis of modern cultures

Connect: industrialization, technology, the service sector, and globalization

CHAPTER OUTLINE

11.1 Introduction

11.2 Marx’s Ideas

11.3 Factors for Location

11.4 The Expansion and Decline of Industry

11.5 Global Production

11.6 Summary

11.7 Key Terms Defined

11.8 Works Consulted and Further Reading

11.9 Endnotes

11.1 INTRODUCTION

essay on types of industries

Figure 11.2   The Volkswagen Jetta ; Author | David Dorrell; Source | Original Work; License | CC BY SA 4.0.

The Volkswagen Jetta is designed in Germany and assembled in Mexico from parts of the represented countries. It is marketed as “German-engineered.” Does it matter if the car was not made in Germany from German parts?

During the 2016 U.S. presidential election, something very peculiar happened. Candidates from both major parties (Donald Trump and Hillary Clinton) agreed over and over again on one thing (and only one thing). The U.S. needed to create and/or bring back manufacturing jobs. Both candidates promised, if elected, to create new, well-paid manufacturing jobs. This was an odd shift, because for the previous 40+ years, Republicans typically embraced free trade that allows manufacturers to choose where and what to produce (and many chose to move operations outside of the U.S.), while Democrats claimed to be working for the interests of blue-collar, working-class people, whose jobs and wages had diminished since the 1980s period of de-industrialization both in the U.S. and throughout the developed/industrialized world. In the U.S., manufacturing provided jobs to 13 million workers in 1950, rising to 20 million in 1980, but by 2017 that number was back to 12 million—similar to levels last seen in 1941. A similar story can be found in Great Britain, where jobs in manufacturing in 2017 were half of what they were in 1978 and output that once was 30% of GDP accounts for only 10% in 2017. Similar stories can be found in Germany, Japan, and other “industrialized” economies. You may ask yourself, “Where did all of those jobs go?” But if you think about it, you can probably come up with your answers.

It is important to note that even as jobs declined, manufacturing output in most industrialized countries continued to increase, so fewer people were producing more things. The first and simplest explanation for this is automation. For years, science fiction writers have warned us that the robots are coming. In the case of manufacturing technology…they are already here! Workers today are aided by software, robots, and sophisticated tools that have simply replaced millions of workers. Working at a manufacturing facility is no longer simply a labor-intensive effort, but one that requires extensive training, knowledge, and willingness to learn new technologies all the time. The second explanation is the relocation of manufacturing from wealthy countries to poorer ones because of lower wages in the latter.

As discussed earlier in this chapter, most countries have moved away from the protectionist model of development, allowing corporations to choose for themselves the location of production. No better example of this shift can be found than Walmart, which in the 1970s advertised that the majority of all of the products it sold were made in the USA. Thirty years later, it would be difficult to find ANY manufactured product that was still “made in the USA.” A third reason for the decline in manufacturing jobs is a decrease in demand for certain types of items. Steel production in the U.S. and England dropped precipitously during the period of deindustrialization (since the 1980s) not just due to automation or cheaper wages elsewhere, but also because steel demand also declined. During the 20 th century the U.S., Europe, and Japan required enormous amounts of steel in the construction of bridges, dams, railroads, skyscrapers, and even automobiles. Building such items in the 21st century has slowed down, not because those countries are in decline, but because there is a limit as to how many bridges and skyscrapers are needed in any country! Demand for steel in a country diminishes as GDP per capita reaches about $20,000. Meanwhile, steel demand will continue to rise in Japan and India for several years as they (and other industrializing countries) continue to expand cities, rail lines, and other large-scale construction projects. Such a decline in steel production does NOT mean that a country is in decline, but rather that there has been a shift in the type of manufacturing that occurs. The U.S., Germany, and Japan all continue to increase manufacturing output ( Figure 11.3 ), even as their share of global output continues to decline.

image of a chart displaying Leading Countrites in Manufacturing Outpu

Figure 11.3   Leading Countries in Manufacturing Output, 2013 ; Author | The World Bank; Source | The World Bank; License | CC BY 4.0.

Another significant shift in manufacturing relates specifically to the geography of production and is best understood in the consideration of 2 different modes of production: 1) Fordism and 2) Post-Fordism . Fordism is associated with the assembly line style of production credited to Henry Ford, who dramatically improved efficiency by instituting assembly line techniques to specialize/simplify jobs, standardize parts, reduce production errors, and keep wages high. Those techniques drove massive growth in manufacturing output throughout most of the 20th century and brought the cost of goods down to levels affordable to the masses. Nearly all of the automobile assembly plants located in and around the Great Lakes region of North America adopted the same strategies, which also provided healthy amounts of competition and innovation for decades, as North America became the world’s leading producer of automobiles. Post-Fordism began to take hold in the 1980s as a new, global mode of production that sought to relocate various components of production across multiple places, regions, and countries. Under Fordism, the entire unit would be produced locally, while Post-Fordism seeks the lowest cost location for every different component, no matter where that might be. Consider an optical, wireless mouse for a moment. The optical component may come from Korea, the rubber cord from Thailand, the plastic from Taiwan, and the patent from the U.S. Meanwhile, all of those items are most likely transported to China, where low-wage workers manually assemble the finished project and automated packing systems box and wrap it for shipping to all corners of the world. Global trade has been occurring for hundreds of years, dating back to the days of the Silk Road, Marco Polo, and the Dutch East India Company, but post-Fordism, in which a single item is comprised of multiple layers of manufacturing from multiple places around the world, is a very recent innovation. The system has reconfigured the globe, such that manufacturers are constantly searching for new locations for cheap production. Consumers tend to benefit greatly from the system in that even poor middle school students in the U.S. can somehow afford to own a pocket computer (smartphone) that is more powerful than the most advanced computer system in the world from the previous generation. This is kind of a miracle. On the other hand, manufacturing jobs that once were a pathway to upward economic mobility no longer assure people of such a decent standard of living as they once did.

11.1.2 History of Industrialization

Industrialization was not a process that emerged fully-formed in England in the eighteenth century. It was the result of centuries of incremental developments that were assembled and deployed in the 18th century. Early industrialization involved using water power to run giant looms that produced cloth at a very low cost. This early manufacturing didn’t use coal and belch smoke into the sky, but it initiated an industrial mindset. Costs could be reduced by relying on inanimate power (first water, then steam, then electricity), converting production to simple steps that cheap low-skilled laborers could do ( Taylorism ), getting larger and concentrated in an area (economy of scale), and cranking out large numbers of the same thing ( Fordism ). This is the industry in a nutshell. The advantage of industry was that a company could sell a cheaper product but at a greater profit.

As this mindset was applied to other goods, and then services, the world was changed forever. Places that had been producing goods for millennia suddenly (really suddenly) found themselves competing with a far cheaper product. Economist Joseph Schumpeter coined the term “creative destruction” to describe the process in which new industries destroy old ones. Hand production of goods for the masses began to decline precipitously. They quickly became too expensive in comparison to manufactured goods. Today, hand-produced goods are often reserved for the wealthy.

A contemporary example of the industrial mode of production is fast food. Looking inside the kitchen of a fast food restaurant will reveal industrially prepared ingredients prepared just in time for sale to a customer. It is not the same process that you would use at home.

In the abstract, companies do not exist to provide jobs or even to make things. Companies exist to produce a profit. If changing the method of making a profit is necessary, then the company will do that to survive. If it cannot, then it will go away. For example, many companies today are highly diversified; Mitsubishi produces such unrelated products as cars and tuna fish. What is the connection between the two? They both produce a profit.

11.1.3 Industrial Geography

image of Map of Medium- And High-Tech Manufacturing Value Added Share in Total Manufacturing

Figure 11.4   Map of Medium- And High-Tech Manufacturing Value Added Share in Total Manufacturing 1 ; Author | David Dorrell; Source | Original Work; License | CC BY SA 4.0.

Over time industrial production changed from one that disrupted local economies to one that completely changed the relationship that most human beings had with their material culture, their environment, and one another. Industry has improved standards of living and increased food production, on one hand, and it has despoiled environments and promoted massive inequality, on the other.

Industrialization is about applying rational thought to the production of goods. Specifically, this form of rational thought refers to discovering ways to reduce unnecessary labor, materials, capital (money), and time. In the same way that factories changed how things were produced, it also changed where things were produced. Locational criteria are used to determine where a factory even gets built.

11.2 MARX’S IDEAS

Karl Marx spent his working life trying to understand the nature of production. One of the things he noticed was that products have lifespans. When they are invented, they are new on the market and the producer has a monopoly. As soon as a product is released, competitors will quickly begin to provide alternative products at a lower price. The race begins to produce the product at an ever cheaper price, but also with an acceptable level of profit. This process occurs across both time and space as any mechanism possible to reduce the cost of manufacturing the product is discovered and used.

Advancements in materials will often occur. Instead of using a metal case, plastic may be good enough. A capital infusion may allow automation of the production. Eventually, after every other possibility to reduce costs is exhausted, the only way to maintain production is to cut labor costs. Few workers will accept a dramatic reduction in pay. It’s time to move the factory to a place with lower labor costs. Marx called this footloose capitalism. We call it offshoring. It’s the same thing, and it has always been part of capitalism. One aspect of this is that we who have grown up in a capitalistic world just naturally expect the price of goods to fall over time. In the United States we experienced a shift in manufacturing from the Northeast to the Midwest, then to the South and West. People in the United States have long moved to follow employment and only stopped doing so when it left the confines of the country.

11.3 FACTORS FOR LOCATION

Industrial location is a balance between capital, material, and labor and markets. The goal is the overall lowest cost. Sometimes pushing down one category, like labor, can increase other costs, like transportation. Substitution is possible across categories. For example, additional capital can replace labor through automation. Earlier factories were built in cities to use the labor that was available there. Building in the middle of nowhere could have created an immediate labor shortage. Of course, labor will also migrate to places with available employment.

Some industrial activities are determined by the site, the physical characteristic of a location. If you want to have a coal mine, it is probably a good idea to locate in a place that has coal. This is the most extreme form of restriction, but bear in mind that many places have mineral wealth, but not all of them are extracting that wealth right now. Many places that would otherwise be candidates for resource extraction are not currently being used because the resources cannot be extracted and sold for a profit. If the resource cannot make money, it will not be used. Remember that government subsidies can make some resources more profitable than they normally would be.

Other industrial locations are products of their situation. The maquiladoras that line the southern side of the Rio Grande (Rio Bravo in Mexico) border would not be there if the United States were not on the other side of the river. The proximity to the United States is the determining characteristic in the choice to locate there. Industries moved to Mexico because it appeared to make economic sense to do so. They were able to lower labor costs while remaining within the US/Canadian market. Transportation costs increased initially, but transportation costs overall have fallen due to more efficient methods of moving goods. Were the North American Free Trade Agreement (NAFTA) to be revoked the situation of Mexico would change, their access to the markets of the United States and Canada would diminish, and the factories that are there would have a much harder time selling their goods.

11.3.1 Land (or Materials/Energy) Costs

Classic economics lumped raw materials and energy under the category of land. Few companies bother to buy the land that produces a particular material, nor do they generally invest in power generation or their oil fields. These inputs are subject to the same price pressures as every other part of the manufacturing process.

The land that a factory sits on has become less important over time. In earlier factories, most workers walked to work, and factories were compelled to locate on expensive land in cities. That is no longer the case. Due to the widespread diffusion of the automobile, factories can be built in more suburban or even rural areas, and workers will commute to the factory. This shifts part of the cost of securing labor onto the workers themselves. It lowers costs for the company. It is still necessary for the company to have access to the transport network, so new factories are usually built to take advantage of existing road networks, often next to interstates.

Sourcing materials has become global. Commodified inputs like steel are bought wherever they are relatively cheap and are shipped to where they are needed. Whichever source provider has the lowest cost, including shipping, will likely be chosen by the company. If you have ever bought something online, generally you want to know which company has the product with the lowest overall price. Companies operate the same way.

There are differences in energy costs across space. For energy-intensive industrial activities, cheap energy is essential. China rose from producing very little steel a few decades ago to leading the world today. It does this by leveraging low labor costs and a very cheap energy source—vast supplies of (highly polluting) coal.

11.3.2 Labor

Labor costs can be reduced in several ways. One way is simply to pay the workers that you have less money. Workers, however, do not like having their pay cut. Sending the work to a place with lower wages has been a common response to higher wages. A large portion of industrial labor requires minimal education. A company can choose to hire high school graduates in wealthy countries for a high wage or equivalently educated workers in poorer countries for far less. The labor pool has thus become globalized. Instead of competing for jobs with the other workers in a particular city, today’s workers are competing for jobs with much of the human population. Labor-intensive industries are particularly sensitive to labor costs. Clothing production has shifted to places with cheap labor as wages in developed countries have increased.

Besides the option of simply shipping jobs offshore, there is also the option of replacing workers outright. Most of the industrial jobs that have been lost in the United States in the last 30 years have not been to overseas production; they have been due to automation. Replacing people with machines is as old as the industry itself. The difference now is that machines are much more capable than they were in the past, and they are much cheaper. Referencing the earlier example of clothing manufacture, the production of athletic shirts in the United States got a large boost with the introduction of a factory in Little Rock, Arkansas, that relies on a robot called Sewbot. The factory will produce millions of shirts at very low costs ($.33 in labor per shirt). This low cost of labor renders it nearly negligible in importance compared to other factors, such as transporting the materials to the factory and transporting the finished clothes to market. The factory was built by a Chinese company in the center of the United States to minimize transport costs. More factories will likely migrate nearer their markets as the cost of labor becomes less important. Developed countries are already seeing an expansion of manufacturing, but not an expansion of manufacturing employment, due to the influence of automation.

11.3.3 Transportation

An important contributor to geographic thinking regarding industrial locations was Alfred Weber (1868–1958). Weber took the concept of using the lowest overall cost for the locations of the industry and expanded it. He developed models that held many inputs to manufacturing constant to demonstrate the importance of transportation in determining the least cost.

Weber believed that transportation costs were the most relevant factor in determining the location of an industry. The best way to minimize the cost of transport depends on the raw materials being transported. There are two kinds of raw materials, things that are more-or-less everywhere (ubiquitous) and local raw materials. For ubiquitous material (e.g. water), you have more freedom to locate because it’s commonly available. In this case, you should build your facility near your market, then you won’t need to transport much. We see examples of this in the locations of breweries and soft drink manufacturers.

On the other hand, if the material is only in a particular place (like bauxite), then you have some calculating to do. First, you need to figure out if your manufacturing condenses, distills, or otherwise shrinks your material. We call these processes bulk-reducing. If you are not doing that, but instead take small pieces and assemble them into something harder to transport (like a tractor), then it is called bulk-gaining. To minimize transport costs for bulk-reducing activities, you want to process them as close as possible to their extraction site. Examples of this are metal smelters and lumber mills.

Bulk-gaining processes are a little more complicated. You need to find the least cost point between your source materials (which may be numerous) and your market. Remember that the goal is the overall lowest cost, so that involves many calculations to determine which is the cheapest location, meaning your location might be in between several of your inputs and/or markets. A general rule of this is that these sorts of businesses tend to be fairly close to their final markets.

There were two last considerations that Weber discussed, agglomeration and deagglomeration. Weber called them secondary factors because they were less important than the previously mentioned characteristics. Agglomeration is related to the idea of economy of scale. Sometimes there are advantages to having similar industries near one another. Consider the manufacture of computers. Computer manufacturers don’t make their components; they buy them, and they use similar tools to put them together, and they use similar labor, and so forth. When industries concentrate in a place they can share some resources and split the cost. This is not to say that this is a conscious process; in many instances it just develops on its own. Deglomerative factors produce diseconomies of scale and are responsible for the redistribution of industry. Examples of this could be escalating prices for land or labor which drive production away from an area.

image of Mills and Mines

This is a photo of a lead mine in South Dakota in the 19 th Century. Notice the large piles of waste material left behind.

11.3.4 Reducing Transportation Costs

Containerization has greatly changed the nature and cost of transportation. In the past, transporting goods required large numbers of people to move goods around. People loaded and unloaded goods at break-of-bulk points. Break-of-bulk points were places like railroad terminals, where goods were loaded onto trains, or ports, where goods were loaded into ships. Break-of-bulk points had large numbers of people loading and unloading items. Containerization changed that process tremendously. Goods are now packed into large metal boxes, and then the boxes are moved from point to point. Cranes move the boxes from trucks to trains to ships, then reverse the process at the shipping destination. Intermodal transportation assumes that a container will seamlessly be transported by any number of different shipping methods. The number of people necessary to ship goods plummeted. The speed at which goods moved increased tremendously since the bottlenecks were removed from the system. Containerization is a good example of an innovation that did not require a large technological shift; it simply required rationalizing a labor-intensive system. Logistics, the commercial activity of transporting goods, is the glue that holds the global production network together. Without relatively inexpensive shipping, many offshored industries would not be able to make goods in distant factories, ship them to other places, and still make a profit.

image of Shipping Containers,

Figure 11.6   Shipping Containers ; Author | Frank McKenna;  Source |  Unsplash; License | CC BY SA 4.0.

Uniform size and shape allow for rapid transport and sorting at minimal cost.

11.3.5 Reducing Capital Costs

Operating an industry has more costs than materials, labor, and shipping. Other factors such as taxes, regulatory compliance, and financial incentive packages can either attract or repel manufacturing. These factors increased tremendously in importance. It has become possible for many industries to ignite a “bidding war” to secure increasingly advantageous incentives to locate in a particular place. Tax breaks, construction allowances, and other benefits will be paid by the places that desperately struggle to attract industries. This has triggered what has been described as a race for the bottom as places promise more than they can afford in the hopes of securing outside investment. Another consideration is access to capital. Businesses often need investment funds or short-term credit. Being unable to secure capital prevents many businesses in developing countries from starting or continuing. Countries without banking infrastructure find it nearly impossible to raise sufficient money to develop their industries. Companies in countries like this are forced to hunt for financial backing in other countries.

11.3.6 Risk

Industries have large sunk costs. Corruption can take advantage of this to demand bribes, protection money, or other expenses that siphon off profit. High levels of corruption inhibit investment. Industries are risk-averse. Politically unstable places will also have difficulty industrializing since companies will be reluctant to build in places where any investment could be lost in a revolution or other political violence. This doesn’t mean that industry requires representative government. Many places have experienced tremendous economic development without democracy. It just means that companies have to feel that any money that they invest in a place is safe.

11.3.7 Accessing a Market

One of the interesting examples of this concept is the number of foreign companies that establish themselves in the United States. Companies such as Foxconn (Taiwan), Hyundai (Korea), and BMW (Germany) build products in the United States. A good question to ask yourself would be “Why do they do that?” It turns out that locating in the United States is advantageous for them. First, they can reduce shipping costs; we have already addressed that. Second, although labor in the United States is relatively expensive, it’s not appreciably different than in their home markets. Third, they may be able to avoid tariffs on imports. Finally, being in the United States places these products near a large market. The North American market is very large, and being embedded in it can be advantageous for some companies.

11.4 THE EXPANSION (AND EVENTUAL DECLINE) OF INDUSTRY

11.4.1 transnational corporations.

Modern industry has become dominated by transnational corporations. Transnational corporations (TNCs) can coordinate and control various processes and transactions within production networks, both within and between different countries. They also can take advantage of geographical differences in factors of production and state policies. Potential geographical flexibility for sales is a final benefit.

Foreign direct investment (FDI) is exactly what it sounds like. Companies invest in other countries. The usual narrative of this in the United States is simply offshoring for cheaper labor. The reality is more complicated. Just consider the examples above of the manufacturers who build facilities in the United States. They aren’t seeking cheap labor. American companies moving production may be seeking to tap into a large pool of labor, but that labor is not as cheap as it was 20 years ago. Another reason for investing in China is the same reason that other companies invest here in North America, to gain entry into a large market. Companies and individuals investing in other countries have numerous motivations. Some of these motivations are altruistic. There is no shortage of entities that seek to use FDI as a mechanism to alleviate poverty. The earlier critique of financial incentives applies directly to foreign direct investment, for obvious reasons. Poor and desperate places will sometimes make economic decisions that make little economic sense.

image of chart displaying Medium-Tech And High-Tech Manufacturing Value Added Share In Total Manufacturing

Figure 11.7   Medium-Tech And High-Tech Manufacturing Value Added Share In Total Manufacturing ; Author | The World Bank; Source | The World Bank; License | CC BY 4.0.

FDI has an established history. Initially, companies in wealthy countries were mostly interested in extracting raw materials from other, usually poorer, countries. This continues to this day. Countries like Niger, the Democratic Republic of Congo, and Venezuela function almost solely as a source of inputs for other companies based in other countries. Other places have seen investment in factories. Sometimes this is due to very low-cost labor, but in many instances, it is because their wages are relatively low and they are relatively close to their market. An example of this was seen in Eastern Europe when many of these countries entered the European Union.

The next graph is slightly different. It shows the different trajectories of manufacturing in general as part of a country’s economy. As you can see, manufacturing as a share of GDP in the United States has been quite low for some time. Manufacturing in China and Korea is much more important, but in both these places, the relative value of manufacturing is falling. In Germany, Japan, and Singapore, the value of manufacturing is rising, although at very moderate levels. Note that neither of these graphs accounts for wages produced from manufacturing employment.

image of cgart displaying Manufacturing Value Added Share In GDP

Figure 11.8   Manufacturing Value Added Share In GDP ; Author | The World Bank; Source | The World Bank; License | CC BY 4.0.

11.5 GLOBAL PRODUCTION

11.5.1 hegemony and economic ascendency.

At times industrialization has propelled countries to great economic heights. Britain, the United States, and Japan all rode an industrial wave to international prominence. In those countries and others, a (largely mythical) golden age centers around a time when low-skilled workers could earn a sufficient wage to secure economic security. This is more-or-less what the “American Dream” was. Deindustrialization has changed the economic trajectories of these countries and the people living in these countries. However, it must be noted that post-industrial countries that have not seen rapid increases in poverty. Wages have been largely stagnant for decades, but they have not generally gone down. The largest difference has to do with the relative prosperity of industrial and post-industrial countries. Countries such as Japan, the UK, or the US are no longer far wealthier than their neighbors. In the same way that flooding a market with a particular product reduces the value of that product, flooding the world with industrial capacity lowers the relative value of that activity. Developing countries function as appendages to the larger economies in the world. The poor serve the needs of the wealthy. Unindustrialized countries buy goods from developed countries, or they license or copy technology and make the products themselves.

11.5.2 Space and Production

In the context of a globalized market, a factory built in one market may not be built in another. This is not to say that producing goods is a zero-sum game, but there are limits to the amount of any good that can be sold. It’s a valid question to ask why transnational corporations (TNCs) have bought into China at rates far greater than in Cuba, Russia, or other Communist or formerly Communist (to varying degrees) countries. There is only so much spare capacity for production in the world. If one giant country (China) is taking all the extra capacity, then there will be none left for others. FDI is simply easier in China since there is more bang for the buck. This is largely a function of population. The population of China is roughly two times the population of Sub-Saharan Africa, and China has a single political/economic running class, as opposed to 55 different sets of often fractious political classes. If the industrialization of Africa happens at all, it will occur after China and its immediate neighbors who have been drawn into its larger economic functioning have largely finished their industrializing. An example of this proximate effect is seen in the shift of some industries from China to Vietnam and Indonesia.

China’s industrialization had to do with promoting itself as a huge cheap labor pool and as a gigantic market for goods. It successfully leveraged both of these characteristics to attract foreign investment and to gain foreign technology from the companies that have invested in producing goods there. Industrialization overall seems to have slowed. The speed at which China industrialized has not been matched by other countries following China. One current idea is that the world is in a race between industrial expansion and rapid overcapacity of production. In other words, the reason that industrialization isn’t expanding as rapidly as before is that we are already making enough goods to satisfy demand. Remember that goods require demand. Unsold goods don’t produce any income. If the factories in the world are already producing enough, or even too much, then new factories are much less likely to be built. Technological advances and the massive industrialization of China might have ended the expansion of industry.

It also appears that the highest levels of manufacturing income are well in the past. According to economist Dani Rodrik, the highest per capita income from manufacturing occurred between 1965 and 1975 and has fallen dramatically since then. This is even considering inflation. Many countries industrializing now only see modest improvements in income. This is related to supply and demand. When there are fewer factories, they make comparatively more money. When factories are everywhere, they are competing with everyone.

11.5.3 Trade

Even more than the expansion of industrial production, the world has seen an expansion of trade. Global trade has produced an intricate web of exchanges as products are now designed in one country, parts are produced in 10 others, assembled in yet another country, and then marketed to the world. Consider something as complex as an automobile. The parts of a car can be sourced from any of dozens of countries, but they all have to be brought to one spot for assembly. Such coordination would have been impossible in the past.

Individuals can buy directly from another country on the Internet, but most international trade is business-to-business. TNCs can conduct an internal form of international trade in goods that can be moved and produced in a way that is most advantageous for the company. Tax breaks, easy credit, and banking privacy laws exist to siphon investment from one place to another.

Because of global trade, improvements in communication and transportation have enabled some companies to enact just-in-time delivery, in which the parts needed for a product only arrive right before they are needed. The advantage of this is that a company has less money trapped in components in a storage facility, and it becomes easier to adjust production. Once again, such coordination at a global scale was not possible even in the relatively recent past.

11.5.4 Deindustrialization

Historically industrialized countries were the wealthy countries of the world. Industrialization, however, is now two centuries old. In the last decades of the twentieth century, deindustrialization began in earnest in the United Kingdom, the United States, and many other places. Factories left and the old jobs left with them. Classical economics holds that such jobs had become less valuable and that moving them offshore was a good deal for everyone. Offshored goods were cheaper for consumers, and the lost jobs were replaced by better jobs. The problem with this idea is that it separates the condition of being a consumer from the condition of being a worker. Most people in any economy are workers. They can only consume as long as they have an income, and that is tied to their ability to work. Many workers whose jobs went elsewhere found that their new jobs paid less than their old jobs.

11.5.5 What Happens After Deindustrialization?

The simple answer to the above question is this. The service economy happens! As manufacturing provides fewer jobs, service industries tend to create new jobs. This is a very delicate balance, however. If you are a 50-year-old coal miner whose job has been eliminated by automation, it is very difficult for you to simply change jobs and enter the “service sector.” This transition is very damaging to those without the right skills, training, education, or geographic location. Many parts of the American Midwest, for example, have become known as the “rust belt” as industrial facilities closed, decayed, and rusted to the horror of those residents who once had good jobs there. The city of Detroit, for example, lost nearly half of its urban population from 1970 to 2010. Meanwhile, the state of Illinois loses one resident every 15 minutes as job growth has weakened in the post-industrial age. However, job growth and productivity in the service economy have strengthened and provide more job opportunities today than the industrial era ever did in the U.S.

There are 3 sectors of every economy:

  • Primary (agriculture, fishing, and mining)
  • Secondary (manufacturing and construction)
  • Tertiary (service-related jobs)

The vast majority of economic growth in the post-industrialized world comes in the tertiary sector. This doesn’t mean that all tertiary jobs pay well. Just ask any fast-food worker if the service sector is making them rich! However, service sector jobs are very dynamic and offer tangible opportunities to millions of people around the world to earn a living providing services to somebody else. We can further break down the service sector into 1) public (the post office, public utilities, working for the government), 2) business (businesses providing services to other businesses), and 3) consumer (anything that provides a service to a private consumer; e.g. hotels, restaurants, barber shops, mechanics, financial services).

Traditionally, service sector jobs worked very much like manufacturing jobs in that employees worked regular hours, earned benefits from the employer, gained raises through increased performance, and went to work somewhere outside of their home. Many service jobs in the 21 st century, however, have been categorized as the gig economy , in which workers serve as contractors (rather than employees), have no regular work schedules, don’t earn benefits, and often work in isolation from other workers rather than as a part of a team. Examples of “jobs” in the gig economy include private tutor, Uber/Lyft driver, Airbnb host, blogger, and YouTuber.

Work, in this economy, is not necessarily bound by particular places and spaces in the way that it is in manufacturing. Imagine a steel worker calling in to tell his/her boss that they are just going to work from home today! Even public schools have adapted to this model in the following manner. As schools cancel classes due to weather, the new norm is to hold classes online, whereby students do independent work submitted to the teacher even though nobody is at school. As such, some workers are freed up from the traditional constraints of time and place and can choose to live anywhere as long as they maintain access to a computer and the Internet. Services like Fiverr.com facilitate a marketplace for freelance writers to compose essays for others or for graphic artists to sell their design ideas directly to customers without ever meeting one another.

The global marketplace continues to be defined as a place where the traditional relationships between employer and employee are changing dramatically. A word of caution is necessary here, however. As many choose to celebrate the freedom that accompanies flexible work schedules, there is also a darker side in that the traditional “contract” and social cohesive element between workers and owners is very much at risk. One defining factor of the 20th century was the development of civil society that fought for and won a host of protective measures for workers, who otherwise could face abusive work conditions. Child labor laws, minimum wage, environmental safety measures, overtime pay, and guards against discrimination were all based upon an employer-employee relationship that seems increasingly threatened by the gig economy. Uber drivers can work themselves to exhaustion since they are not employees. Airbnb hosts can skirt environmental safety precautions since they do not face the same safety inspections required at hotels. These are just a few examples, but they are very worth consideration. Regardless of the positives and negatives, the new service economy is having a transformative effect on all facets of society. Although the authors of this textbook are all geography professors with Ph.D.s from a variety of universities, perhaps the next version of this textbook will simply draw upon the gig economy to seek the lowest-cost authors who are willing to write about all things geographical. Will you be able to tell the difference? (We hope so!!!)

11.6 SUMMARY

Industrial production changed the relationship of people to their environments. Folk (pre-industrial) cultures used local resources and knowledge to hand-produce goods. Now the production of goods and the provisioning of services can be split into innumerable spatially discrete pieces. Competition drives the costs of goods and services downward, providing relentless pressure to cut costs. This process has pushed industrialization into most corners of the world as companies have looked further and further afield to find cheaper labor and materials and to find more customers. Industrialization has fueled a lifestyle change; as goods have become cheaper, they have become more accessible to more people. Our lives have changed. We now live according to a schedule dictated by international production.

11.7 KEY TERMS DEFINED

Back office services – interoffice services involving personnel who do not interact directly with clients.

Break-of-bulk point – a point of transfer from one form of transport to another.

Bulk reducing – an industrial activity that produces a product that weighs less than the inputs.

Commodification – the process of transforming a cultural activity into a saleable product.

Containerization – a transport system using standardized shipping containers.

Deindustrialization – the process of shifting from a manufacturing-based economy to one based on other economic activities.

Economies of scale – efficiencies in production gained from operating at a larger scale.

Footloose capitalism – spatial flexibility of production.

Fordism – a rational form of mass production for standardizing and simplifying production.

Gig economy – a labor market characterized by freelance work.

Globalization – the state in which economic and cultural systems have become global in scale.

Intermodal – a transportation system using more than one mode of transport.

Just-in-time delivery – a manufacturing system in which components are delivered just before they are needed to reduce inventory and storage costs.

Locational criteria – factors determining whether an economic activity will occur in a place.

Logistics – the coordination of complex operations.

Outsourcing – shifting the production of a good or the provision of a service from within a company to an external source.

Offshoring – shifting the production of a good or the provision of a service to another country.

Supply chain – all products and processes involved in the production of goods.

Taylorism – the scientific management of production.

11.8 WORKS CONSULTED AND FURTHER READINGS

Berkhout, Esmé. 2016. “Tax Battles: The Dangerous Global Race to the Bottom on Corporate Tax,” 46.

Dicken, Peter. 2014. Global Shift: Mapping the Changing Contours of the World Economy . SAGE.

Dorrell, David. 2018. “Using International Content in an Introductory Human Geography Course.” In Curriculum Internationalization and the Future of Education .

Goodwin, Michael, David Bach, and Joel Bakan. 2012. Economix: How and Why Our Economy Works (and Doesn’t Work) in Words and Pictures . New York: Harry N. Abrams.

Grabill, John C. H. 1889. “‘Mills and Mines.’ Part of the Great Homestake Works, Lead City, Dak.” Still image. 1889. http://www.loc.gov/pictures/resource/ppmsc.02674 .

Gregory, Derek, ed. 2009. The Dictionary of Human Geography . 5th ed. Malden, MA: Blackwell.

Griswold, Daniel. n.d. “Globalization Isn’t Killing Factory Jobs. Trade Is Actually Why Manufacturing Is up 40%.” Latimes.com. Accessed April 21, 2018. http://www. latimes.com/opinion/op-ed/la-oe-griswold-globalization-and-trade-help-manufacturing-20160801-snap-story.html.

Howe, Jeff. 2006. “The Rise of Crowdsourcing.” WIRED. 2006. https://www.wired. com/2006/06/crowds/.

Massey, Doreen B. 1995. Spatial Divisions of Labor: Social Structures and the Geography of Production . Psychology Press.

Rendall, Matthew. 2016. “Industrial Robots Will Replace Manufacturing Jobs — and That’s a Good Thing.” TechCrunch (blog). October 9, 2016. http://social.techcrunch.com/2016/10/09/industrial-robots-will-replace-manufacturing-jobs-and-thats-a-good-thing/.

Rodrik, Dani. 2015. “Premature Deindustrialization.” Working Paper 20935. National Bureau of Economic Research. https://doi.org/10.3386/w20935.

Sherman, Len. 2017. “Why Can’t Uber Make Money?” December 14, 2017. https:// www.forbes.com/sites/lensherman/2017/12/14/why-cant-uber-make-money/#2fb5abc10ec1.

Sumner, Andrew. 2005. “Is Foreign Direct Investment Good for the Poor? A Review and Stocktake.” Development in Practice 15 (3–4): 269–85. https://doi. org/10.1080/09614520500076183.

Zhou, May, and Zhang Yuan. 2017. “Textile Companies Go High Tech in Arkansas – USA – Chinadaily.Com.Cn.” July 25, 2017. http://usa.chinadaily.com.cn/world/2017-07/25/content_30244657.htm?utm_campaign=T-shirt%20 line&utm_source=hs_email&utm_medium=email&utm_content=54911122&_ hsenc=p2ANqtz-9WyxMiFliVTrpO35Quk5KN0XpHHHj2bYn9-7WKp3Tt_ iF8LUsO9Q6m6OEH892iW9QcXJ4kvAk8C1Ooiy5TffzH6URrPVnKTrvZ3 TEFQ_zyt6rIjp0&_hsmi=54911122.

11.9 ENDNOTES

  • Data source: World Bank. https://tcdata360.worldbank.org

Media Attributions

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Encyclopedia of Humanities

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Manufacturing industry

We explain what manufacturing is, the types of manufacturing industries, and provide examples. In addition, we discuss its importance, and the environmental impact it creates.

Industria manufacturera

The manufacturing industry is concerned with the transformation of raw materials or semi-finished products into finished consumer goods , i.e. goods ready for to be consumed.

Manufacturing is part of the secondary sector of a country's economy . The primary sector, on the other hand, encompasses activities that transform natural resources, such as the collection and extraction of raw materials, and the production of semi-finished goods.

Etymology : The word manufactures comes from Latin manus meaning “hand” and facere meaning “make”; it therefore refers to handmade goods.

Some examples of manufacturing include: a bakery with in-house manufactured products, a pine wood furniture factory, a metallurgical company producing anything from tools or supplies to metal machinery, or a textile factory manufacturing yarns and fabrics.

  • The manufacturing industry is concerned with the production of finished goods ready for consumption.
  • It is part of the secondary sector of the economy and its production accounts for a country’s Gross Domestic Product (GDP).
  • Manufacturing employs raw materials and semi-finished goods, which pertain to the agricultural, mining and livestock industries, among others of the primary sector.
  • See also: Light and heavy industry

Types of manufacturing industries

Industria manufacturera

Manufacturing industries differ according to the production method implemented. The types of manufacturing industries may be:

  • Continuous production industries . They are industries where manufacturing processes run without interruption in a continuous flow process operating 24 hours a day, seven days a week, with rotating shifts. The purpose is to produce the highest quantity of units.
  • Batch production industries . They are industries where large-scale manufacturing processes depend on demand or on specified minimal quantities. The industrial equipment and machinery used for this type of manufacturing involve minimal quantities for production due to the high costs and production time.
  • Repetitive manufacturing industries . Continuous manufacturing processes are specifically applied for identical products, large batches, or for the manufacture of spare parts.

Examples of manufacturing industries

Among the main manufacturing industries are:

  • Textile industry . It comprises activities that transform cotton, linen and raw wool into yarns and fabrics.
  • Food industry . It comprises activities that transform raw materials, mostly of agricultural origin, into food for human and animal consumption.
  • Chemical industry . IIt comprises activities that transform natural raw materials (such as minerals or coal) and synthetic products (such as chemicals for making paints and solvents) into different substances to make consumer products. Chemical products can be semi-processed, for industrial or finished consumer products.
  • Advanced technology industry . Also known as high-tech or exotechnology, it comprises activities that involve the development of innovative techniques and resources that have an impact on multiple areas of life, such as health, education, transportation or food, with the aim of making people's lives easier or satisfying new needs.
  • Transportation industry . It comprises activities that transform raw materials into equipment, spare parts and vehicles, such as bicycles, motorcycles, automobiles, buses, trucks, boats, trains, and aircrafts, among others. Transportation is an essential link of the different sectors of the economy.
  • Pharmaceutical industry . It comprises activities that transform chemical substances and active ingredients into medical products. In addition to manufacturing, it is concerned with research and development of innovative techniques for the treatment of raw materials.
  • Telecommunications industry . It comprises engineering and technology activities that involve the development of infrastructure necessary to provide transmission and reception services for various types of audiovisual, electromagnetic or frequency modulation signals. It requires the use of several types of devices for its consumption: shortwave radios, TV sets, electronic devices, mobile phones, internet networks and servers, radio navigation devices, among many others.
  • Electric power industry . It comprises engineering and technology activities for the generation, transmission, maintenance and distribution of electric power to supply other industries, production plants and the general public.
  • Construction industry . It comprises activities related to architectural, engineering and manufacturing services of goods and supplies for the construction of roads, urban and hydraulic works, and housing. 
  • Industrial crafts . It comprises activities that transform inputs from other industrial activities. It employs techniques that allow for medium-scale production, through mechanized handmade processing, yielding pieces that are different from one another, as opposed to large-scale mass production.

Importance of the manufacturing industry

Manufacturing (the secondary sector of the economy) is a key industry, as it produces all the goods and services that are traded in society . This industry also promotes employment and generates profits and economic development.

Production or the manufacturing industry represents the Gross Domestic Product (GDP) of a country . For a country’s finances, the GDP is the monetary value of all goods and services produced in one year, besides other factors taken into account to calculate GDP.

Environmental impact of the manufacturing industry

Industria manufacturera

Industrial activity has a positive impact (as it satisfies society's needs), and a negative one (since it may pollute or unbalance biodiversity).

The management model known as Corporate Social Responsibility (CSR) arose from the need to reduce the negative impact of industrial and business activity. The purpose of CSR management is to find a balance between the management of resources (human and natural), the impact of business activity on the environment, and revenue generation.

Nowadays, a company is not considered successful simply if it is profitable or if it is highly productive . Today, companies must face other challenges, such as providing transparency about the sourcing of raw materials, ensuring labor free of exploitation, and reducing the negative impact of their activities on the environment.

  • INEGI (2022). Industria manufacturera . INEGI .
  • Happy learning (2019). El sector secundario: el trabajo y su clasificación (video). YouTube .
  • Postgrado UCSP (2022). Guía sobre los procesos de manufactura . UCSP .

Related articles:

  • Successful organization
  • Family-owned business
  • Multinational corporation
  • Intelligent organization

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Industries Essay Examples for Free

Though we live in the post-industrial era, industries still play an important role in any economy. Some examples of industries are manufacturing, pharmaceutics, and steel.

Students usually write about different types of industries and their specializations. Also, an essay on industries might focus on the five factors of industrialization. Another option is to look at industries’ potential in remote areas. Finally, you might want to consider the common obstacles and limitations connected to local industries.

Below you will find a collection of industries essay samples. These papers written by high-performing students will give you some ideas and boost your creativity.

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How Industry Type Affects Business Strategy Essay

The type of industry and the size of a business normally influences the business strategies that are likely to be in place in order to realize the business goal. The type of the industry influences the business strategies in the following ways:

Various industries are characterized by specific features which make them unique and distinguishable from the other industries. This uniqueness call for definite strategies in order to attain the business goals and this uniqueness are identifiable in the input requirements, the demand pattern, the market structure and the production procedures.

A business always requires a supply of some inputs that are meant to sustain its operations ranging from raw material to stock depending on the type of business. Therefore a business type will command its requirements thus need to be factored in designing business strategies as various requirements needs varied procedures in meeting them.

Different businesses products normally have varied demand patterns where demand can be spread depending on seasons or depending on the age structure. This requires a business to have distinct strategies depending on the demand pattern, as products vary from one industry to another and their demand trended in different patterns.

The nature of the production process also varies from one industry to another, which makes it necessary for each and every industry to have distinct strategic plans thus the type of industry dictating the business strategy.

The Size of the industry influences the business strategy on the level of both input and output that need to be met in an attempt to arrest the market demand.

VanDen A., 1997, Perspectives on Strategy: Contribution of Michael E., Springer Publishers, pp 44.

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Introduction to industry

Have you ever thought about the items that you have purchased? Like where did this item came from, how did it got distributed so that it can reach to you?. In Introduction to Industry, we will learn this in greater detail.

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Introduction to industry.

You usually purchase an item from a shopkeeper and the shopkeeper purchases that item from the distributor.

Furthermore, this item reaches to the distributor from the manufacturer. The manufacturer produced this item from the raw materials available to him. This is how the industry functions.

It is generally a group of organizations that are involved in manufacturing and producing the part for the same type of services and products. An introduction to industry is incomplete without mentioning the above process.

Introduction to Industry

Usually, industries are involved in the secondary activity of the manufacturing of the goods. There are different types of secondary activities that convert the raw materials into products that give more value to the people.

Here, in this scenario, industry refers to the economic activities that are related to the production of goods, extraction of services, etc.

Thus, it can also be said that the industry is concerned with the production of goods as in the case of steel, provision of services in the case of tourism, and extraction of minerals in the case of coal mining.

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Classification of Industry

Raw material.

In this case, the size of an industry is measured through the investment of money, goods produced, and employees involved.

There are large scale industries and small scale industries. In large scale industries, the technology is advanced and the capital investment is huge.

Examples are heavy machinery or the oil and petrol industry.

Small scale industries are exactly the opposite of large scale industries. They require less capital and the technology used is not advance.

Furthermore, in this type of industry, the use of manual labor is more

Examples of this industry are pottery, weaving, etc.

Learn more about Industries of India and World here in detail

You can divide the raw material from industry to industry.

For example, there are agro-industries, marine-industries, mineral industries, etc.

In agro-based industries, plants and animal-based items are used as the raw materials.

For example, cotton textile, dairy, products, leather industries, etc.

In marine-based industries, the raw materials used are from the ocean or sea.

For example, fish oil. While mineral-based industries are based on mining and they normally use mineral ore as their raw material.

Furthermore, This type of raw materials can be used for building materials or for heavy machinery.

Let us understand more about Indian Industrial Policies here

An industry can be privately owned, publicly owned, or jointly owned. In the private sector, the businesses and operations of a business are operated and owned either by an individual or the group of individuals.

In joint sector industries, both state and individual jointly own the company. For example, Maruti Udyog.

While in the public sector, the government manages and owns the industry.  For example, Oil and natural gas corporation (ONGC).

Practice questions on Introduction to Industry

Q. The Industries are classified on the basis of?

A . Size                    B.  Ownership                    C. Raw materials                   D. All of the above

Answer : D. All of the above

Q. How do we measure the size of the industry?

A. Money invested               B.  Labor force                   C. Advance technology                   D. All of the above

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Industrialization: What It Is, Examples, and Impacts on Society

essay on types of industries

Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.

essay on types of industries

Ariel Courage is an experienced editor, researcher, and former fact-checker. She has performed editing and fact-checking work for several leading finance publications, including The Motley Fool and Passport to Wall Street.

essay on types of industries

What Is Industrialization?

Industrialization is the process of transforming the economy of a nation or region from a focus on agriculture to a reliance on manufacturing. Mechanized methods of mass production are an essential component of this transition.

The positive characteristics of industrialization include economic growth, a more efficient division of labor, and a growth spurt in technological innovation.

Key Takeaways

  • Industrialization is a transformation away from an agricultural- or resource-based economy, toward an economy based on mechanized manufacturing.
  • Industrialization is usually associated with a greater average income and improved living standards.
  • Early industrialization occurred in Europe and North America during the 18th and 19th centuries, and later in other parts of the world.
  • Numerous strategies for industrialization have been pursued over time, with varying levels of success.

Investopedia / NoNo Flores

Understanding Industrialization

Industrialization can be driven by a combination of factors including government policy, labor-saving inventions, entrepreneurial ambitions, and a demand for goods and services. It has profound implications for the population, causing a wave of migration from small farms to cities and towns where jobs can be found.

The most dramatic example in recent history is that of China, where government policy changes in the late 20th century led to the nation's transition from an economy based on subsistence farming to a global manufacturing powerhouse .

The Industrial Revolution

In the western world, Industrialization is most commonly associated with the Industrial Revolution in Europe that began in the late 18th century and the subsequent burst of industrialization in the U.S. through the 19th century.

In Europe, the era was characterized by a surge in local manufacturing of goods for export, made possible by a growing population of consumers. Great Britain played an outsized role in the process through technological innovations such as steam-powered machinery.

Industrialization quickly spread to the United States, the epicenter of laissez-faire capitalism. Inventions including the cotton mill and steam power made possible the establishment of mill towns such as Lowell, MA, and Pawtucket, RI.

Later Periods of Industrialization

World War II created an unprecedented demand for certain manufactured goods, leading to a buildup of production capacity. Post-war prosperity provided further catalysts that kept capacity utilization high and stimulated further growth.

Innovation, specialization, and wealth creation were the causes and effects of industrialization in this period.

The Asian Tigers

The late 20th century was marked by rapid industrialization in other parts of the world, notably Asia. The Asian Tigers (Hong Kong, South Korea, Taiwan, and Singapore) all participated in economic growth based on manufacturing for global customers.

China experienced its own industrial revolution after moving away from a strict communist model.

Effects of Industrialization

The innovations of the 19th century allowed for the mass production of commercial goods. As manufacturing activities grew, transportation, finance, and communications industries all expanded to support the new production capacity.

It also led to increased labor specialization and allowed cities to support larger populations, motivating a rapid demographic shift. People left rural areas in large numbers, seeking jobs in budding industries.

The Industrial Revolution led to unprecedented expansion in wealth and financial well-being for some. A larger middle class emerged as consumer demand for more goods and services grew and business creation boomed to feed the demand.

Modes of Industrialization

Different strategies and methods of industrialization have been followed over time, with varying degrees of success .

The Industrial Revolution in Europe and the United States initially took place under mercantilist and protectionist government policies that fostered the early growth of industry. These later adopted a laissez-faire or free-market approach that encouraged foreign trade, providing new outlets for industrial output.

In the post-Second World War era, developing nations across Latin America and Africa adopted a strategy of import-substituting industrialization , which involved protectionist barriers to trade coupled with direct subsidization or nationalization of domestic industries.

Nearly at the same time, parts of Europe and several East Asian economies pursued an alternative strategy of export-led growth . This strategy emphasized the deliberate pursuit of foreign trade to build exporting industries and depended in part on maintaining a weak currency to make exports more attractive to foreign buyers.

In general, export-led growth has outperformed import-substituting industrialization.

Socialist Industrialization

The socialist nations of the 20th century repeatedly embarked on centrally planned programs of industrialization. These include the first and second five-year plans in the Soviet Union and the Great Leap Forward in China.

While these efforts did re-orient the respective economies toward a more industrial base and an increase in output of industrial commodities, they were also accompanied by harsh government repression, deteriorating living and working conditions for workers, and even widespread starvation.

Examples of Industrialization

Industrialization is dependent on growth and innovation in at least four industries.

Manufacturing

Industrialization began with the invention of machines that greatly increased the manufacture of goods.

One such invention was the cotton gin, patented by Eli Whitney in 1794. Whether hand-cranked or steam-powered, the machine made it possible to greatly increase the speed with which cotton fluff could be separated from its seeds before being woven into cloth.

Another was the spinning jenny, a contraption that could multiply the number of spindles that a single spinner could handle at the same time to weave cotton or wool.

Perhaps the key invention of them all was the steam engine, an improved version of which was invented by Scottish engineer James Watt in 1763. Coal-powered steam engines drove the Industrial Revolution.

Many of the great inventions of the 19th century were developed to serve the mining industry.

  • The first working steam engine was devised to help remove flood water from coal and tin mines, where they often disrupted production.
  • The first use for the steam-powered locomotive was to transport ore from mines.
  • Dynamite was patented in 1867 and was first used to blow up rocks that obstructed mining activities.

Transportation

The 19th century was a period of unparalleled innovation in ways to transport goods from and to marketplaces. Among them:

  • The steam locomotive. The prototype, known as Stephenson's Rocket and introduced in 1829, served for the next 150 years as a template for the production of vehicles to haul raw materials and finished products.
  • The steamboat. The transport of goods and people was greatly expanded and speeded up with the introduction of the steamboat, which adapted steam technology to river craft.

Before contactless payments and self-service checkouts, there were innovations in retailing that were designed to appeal to 19th century shoppers.

  • The department store. The first "store for everything" was John Wanamaker's, a six-story retail wonderland that rose in the heart of Philadelphia in 1887.
  • The Sears catalog. It wasn't the first catalog but it was the first to reach practically every consumer in America with a vast range of goods, from children's clothing to prefabricated houses.

How Does Industrialization Impact Society?

Industrialization creates jobs that draw people from farms and villages to cities where manufacturing takes place. However hard those jobs were, they were often preferable to the precarious existence of a small farming family.

The result is a new generation of urban consumers. Businesses of all kinds spring up to provide goods and services to these consumers. Over time, a larger middle class of artisans and shopkeepers emerges.

A large working class also emerges, and conditions were often much harsher for them. The evolution of labor unions is a direct result of the conditions faced by the powerless workers of the Industrial Revolution.

What Is Industrial Activity?

Industrial activity is any business process that is necessary to create a manufactured product. The activity may be related to the sourcing, processing, assembly, repair, or dismantling of a manufactured product.

What Is Non-Industrial?

Non-industrial may be most often seen in zoning regulations or discussions regarding zoning regulations.

This is a wide category that may include everything except manufacturing activities and manufacturing sourcing such as mining.

Non-industrial land use includes retail and services businesses, entertainment and recreation sites, parking lots, and residential neighborhoods.

The Bottom Line

For better or worse, industrialization created the modern world as we know it. You would have to search far and wide to find a place on Earth that has not been affected by industrialization, and those places probably will be soon.

The Industrial Revolution in Europe and the United States brought the world into the modern era. Other regions, particularly in Asia, made the transition later. The process continues into the 21st century.

Britannica. " Industrial Revolution ."

Library of Congress. " The Industrial Revolution in the United States ."

National Archives. " Eli Whitney's Patent for the Cotton Gin ."

HistoryHit. " 10 Key Inventions During the Industrial Revolution ."

Vale. " 5 innovations that appeared due to mining ."

National Geographic. " Steamboat ."

Entrepreneur. " Seven Innovators That Changed Retail Forever ."

History. " Labor Movement ."

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An Introduction to Industries

Any part of the Economy that helps in production, processing or modification to more usable forms of available raw materials can be termed as an Industry. The most common manufacturing Industries are the Wood Industry, Metal Industry, Cement Industry, Chemical and Fertilizer Industry, Petroleum Industry, Textile Industry and so on. There are also Industries that produce various services as their final product. One such example is the Insurance Industry.

Nationally and Internationally Industries are Classified on the basis of various parameters such as ownership, final product, size or capital invested, infrastructure and many more. In this topic, we will learn about the Large Industries that are a category based on the Classification according to the size of operation.

Any production or services providing unit that starts with a suitable amount of investment evolves over time. Depending upon the pre-production facilities such as availability of raw materials, manpower, capital flow and post-production provisions of a good market nearby or transport facilities helps the Industry to grow in size and share. Traditionally heavy Industries such as iron and steel manufacturing Industries or aircraft manufacturing Industries are considered Large Scale Industries. In recent years various other Industries dealing with not so heavy items have also emerged as the major players of the Economy. The electronic or semiconductor Industry is a very good example in this category.

Classification of Industries as Large and small help them to maintain the standard of their various operations and responsibilities. In comparison to small Scale Industries, Large Scale Industries are more systematic in nature. They produce their products more efficiently and contribute to the Economy effectively. They also provide better employment opportunities with more job security. Large Scale Industries also invest money for research and design of new products which in the long run Benefits all of us. Thus it can't be wrong to say Large Scale Industries are the driving engines of any Economy.

Large Scale Industries Definition

Industries at different Scales constitute the various parts of an Economy. Large Scale businesses and Industries employ a significant number of people and offer politicians generous support. On the other hand, small enterprises affect the Economy at ground level where individual businessmen succeed. Small-Scale Industries are so small that they are not famous. However, it also contributes to the nation’s prosperity. Based on the Scale, Industries are Classified not just into Large-Scale and small-Scale Industries, but there are other Industries and public enterprises, multinational organizations as well. This article gathers all information about Large-Scale Industries.

What is a Large-Scale Industry?

As the name suggests, everything needed in large scale industries is in bulk or large amounts. All the different resources like workforce, the influx of capital, raw materials, the infrastructure required for the setup and execution of large-scale industry is enormous. It includes various types of industries in its purview. Large scale industry comprises multiple heavy and light industries. The heavy industry like steel, textile, and automobile manufacturing industry falls under the category of large-scale industry. It is also observed that IT has boomed in recent years. A large amount of revenue is generated from the IT industry; thus, the IT industry also comes under the large-scale industrial niche.

All these industries have produced a bulk amount of job opportunities for millions of citizens across the globe. Due to the export of the products manufactured in large-scale industries to different countries, any country's economic growth is highly dependent on its large-scale industries. The large-scale industry also contributes to the generation of foreign currency.

With this understanding, let us go through the importance of large scale industries.

Advantages of Large Scale Industries

The following are the prime advantages of a large-scale industry.

Economical Production using Machinery- The large-scale industry usually installs the latest machinery, which helps in economical bulk production. The machinery works continuously, and enterprises reap the benefits.

The Economy of Labour- Skilled labour put their best to perform. The large-scale industry utilizes the best out of its employees.

Bulk Buying and Selling- The large-scale industry not just involves massive production but also includes the bulk purchase of its raw materials. Thus small profit results in high net profit in large-scale businesses.

Low Overhead Charges- Expenses on administration and distribution on a single unit of production is comparatively less. It is possible because a small amount is invested and distributed over large scale production.

Economical Rent- The whole rent is divided by bulk products. It means when any product is generated in bulk quantity, the cost per unit for rent is too small.

Research and Analysis- Large scale industries can only incur the liberal expenses spent on research and analysis. It is known that successful research and analysis will fetch greater profits in the future.

Reuse of the Bye-products- The bye-products or the wastes of the large-scale industry is often utilized and is not thrown. It helps to lower the cost of production. A small sugar industry will get rid of the molasses produced as a by-product. 

Beneficial for Employees-   All workers are highly benefited by the large scale industries as they get high salaries, accommodation and various other remunerations.

Below are a few examples of global and Indian large scale industries.

Large Scale Industries Examples

Globally, there are a plethora of large-scale industries that contribute to the economy of different countries. To name few of them are Global Life & Health Insurance Carriers, Global Pension Funds, Global Oil & Gas Exploration & Production, Global Commercial Real Estate, Global Car & Automobile Sales, Cement, Global Car & Automobile Manufacturing, Global Direct General Insurance Carriers, Global Commercial Banks, Global Auto Parts & Accessories Manufacturing, Global Tourism. These are the top ten most significant large-scale industries in terms of revenue.

Indian industries that come under the umbrella of a large-scale industry are the cotton industry, tea industry, jute, cement, paper, engineering industry, food processing, information and electronic technology, and automobile industry. These are the few large scale industries contributing to the economy of India.

Do you know the cotton textile industry is the largest in India? In 2018-2019, India aced the race and ranked at first position cotton production worldwide, followed by the United States.

Globally, India is positioned at the second place for tea production. China is known to be the largest producer of Tea.

If you get a chance to visit Ooty, Tamil Nadu, listen to the veteran Bollywood actress Mumtaz own most of the tea estates.

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FAQs on Large Scale Industries

1. What is the problem of the large-scale industry?

The prime disadvantage of the large-scale industry is that it is too large, leading to ineffective supervision and wastage. Due to bulk production, perfection is often compromised— a massive workforce results in miscommunication between employees and senior management. A monopoly is a significant drawback where the small business is wiped out. It leads to costly products without matching the quality standards. The large-scale industry is the prime reason causing pollution. The breakdown of large enterprises could severely impact the economy of the country. Not just this, products of the large-scale industry are exported to various countries. However, to capture the market, friction and tension are created among different countries.

2. What are the main requirements of a large-scale industry?

Large scale industry required massive amounts of capital investment. Not just this, it highly depends on basic amenities like electricity, communication, water, transportation. Secondly, large-scale businesses require a skilled workforce to handle various delicate tasks using the latest technology. Additionally, a wide variety of raw materials is needed in bulk amounts. Thus, lack of capital and inadequate supply of the above necessities hamper large-scale industries' smooth run.

3. Does the information and telecommunications industry count as a large-scale industry?

IT Industry is essentially a service-based Industry providing services such as software or solutions for other Industries in the market. In recent years, we have seen a boom in this sector due to computerisation and the adoption of digital mode for doing all activities in every small to big business unit. On the basis of the Large number of services it generates annually, it has entered into the category of Large Industries these days. IT Industries have also come to be counted under this category.

4. How did Industries start to develop in India?

After independence, a lot of Industries have emerged in India to perform the tasks of producing goods and providing services. India had a very poor foundation of industrial development. So the newly elected government took care of establishing basic Industries that will help in the development of many other Industries in future. Huge funds and capital was dedicated from the budget in this direction.  Many foreign countries and international organizations also came forward to help India to develop its industrial base.

5. What are the different types of Industries?

There are several private, corporate, government, and semi-government Industries that have been established by both government or individuals or both by contributing any predetermined share values. A broad Classification categorizes some Industries as core sector Industries. It includes the Industries of iron & steel, cement, electricity, fertilizer, crude oil, coal, natural gas, and refinery products. They have been named as such as they provide raw materials for the establishment of other Industries. Other than that Industries are also categorized as primary, secondary, tertiary and quaternary.

6. What is the present industrial scenario in India?

Though the industrial history is very new and started just after independence, there were some industrialists with successful businesses that originated in the British era. J R D Tata was one such pioneer who was famous for the iron and steel Industry at Jamshedpur. The Tata group is still famous for contributing a major share in the count of total Industries in India. Other renowned names in this area are Reliance by Ambani group, Fortune, Birla and many others. The IT Industry is now the booming Industry in India.

7. Which is the best way to learn about all the Industries and their type?

Students get introduced to the different types of Industry in the subjects of social science in Junior Classes. In high school, this topic is covered in the subject book of Economics and Geography. Later in more specific studies after Class 10, the books of Humanities and Commerce stream are best to learn this topic. It is covered in the books of Economics for both the streams. The books for business studies also cover this topic in their respective Classes. The synopsis of all the theories is also available on the official site of Vedantu.

Essay on Industries in India (5 Essays)

essay on types of industries

Read this essay on the Industries in India: Evolution, Types, Characteristics and Causes of Slow Growth of Industries in India.

Essay Contents:

  • Essay on the Evolution of Indian Industries
  • Essay on the Types of Industries
  • Essay on the Characteristics of Modern Industry
  • Essay on Industrial Productivity
  • Essay on the Causes of Slow Growth of Industries

Essay # 1. Evolution of Indian Industries :

In 1919 first world war came to an end and with that economic depression started, which continued all over the world upto 1933. But inspite of this in the country, there was progress on the industrial front. Production of Steel ingot rose from 1.3 lakhs in 1922 to 10.42 lakhs in 1935, which was a rise of about 800%.

Similarly production of Cotton goods increased from 1714 million yards, which was about 250%; output of Match industry went up by 38%, that of Paper by 180% and that of Cane Sugar by about 400%. There was considerable increase in production of engineering goods and those of the electrical goods also started.

Second World War and Indian Industry:

Inspite of economic depression, industries in India made some progress, though as compared with the consumption, population and area, the output on the industrial field was negligible. It was at this difficult time that Second World War broke out; Indian industries now received bulk orders for the supply of the goods to meet day to day demands of the armies, which included not only British soldiers, but soldiers all over the world.

In fact, India became one of the important centres of supplies of war material. Production of goods increased but only in limited sphere. In order to meet needs, particularly war needs, new industrial enterprises were started. Extra plants were set up. In order to increase production, factories were made to work in two shifts.

Similarly organisational and technical improvements were made to get better production. Every machine was made to work to its fullest capacity and where necessary, new plants were added to the existing ones. Industrial production on the whole increased from 104% in 1938 to 100% in 1945; base year 1937 being equal to 100.

Some of new industries which were started during World War II included Ferro Silicon, Ferro manganese, copper, copper sheets, wires, cables, diesel engines, pumps, bicycles, machine tools, cutting tools, textile, tea, caustic soda and chlorine etc. On the whole number of companies in 1945 went upto 14,859 from 11,114 in 1939. Similarly, capital investment in the industries also increased from Rs. 290 crores in 1939 to Rs. 389 crores in 1945.

During this period new industries were also started but if this progress is viewed impartially, it will be observed that it was very slow. Attention was paid and development was made only in respect of industries which were useful for the production of raw material. No attempt was made to produce material, which was of either day to day use or with which common man was concerned.

Thus the needs of common man were completely ignored and Industrial growth had nothing to do with the millions spread all over the country. Moreover there were certain adverse effects on the industrial economy, due to certain forces, which were very active during war period and very adversely influenced industrial growth.

Some of the important factors were:

1. Heavy Strains on the Industry:

During war period industry was put under heavy strains. The machines were put to work from morning till night. Every plant and machinery deteriorated and there was heavy wear and tear of machines.

2. Ignoring of Consumption Goods:

During war days every effort was made to produce only such goods which were useful for meeting war needs. The result was that production of consumption goods was completely ignored. There was inflation in the market and purchasing capacity of the people considerably went down. Thus whatsoever was available, that also could not be purchased by the poor and weaker sections of the society. There were also controls and corruption in the society.

3. Exploitation of Workers:

During this period every labourer and worker was required to produce more and more, because there was heavy demand for the goods. But they were not paid their due share in the profits. Their wages too kept very low. The result was that they were exploited and the owners got profit out of their miserable conditions.

4. Ignoring Long Term Factors:

While setting up new industries during war period no long term factors were taken into consideration. The only factors which were taken into consideration included scarcity of resources and the problems created by raw material. This proved very harmful for the industries in the long run.

5. Large Scale Inter-Locking of Funds:

During the war days many industrial units gained heavy profits. The result of this was that the money got blocked up in the hands of few industrialists. The concentration of wealth in few hands resulted in many social evils and malpractices.

The few powerful people who thus emerged began to control whole industrial system of the country. They formed groups and joint stock companies. Similarly they cared more for their own interests rather than the interests of the shareholders and the workers.

6. No Balanced Growth:

No care was taken about ensuring that the growth was balanced and quite well planned. On the other hand an attempt was made to set up industries as quickly as possible, so that war efforts were not slackened. Though immediate needs were met, yet the society had to pay for this ill planning during the year which followed after war period.

Essay # 2. Types of Industries:

In every country, industries are given encouragement so that these flourish and national needs and necessities are met from within the country.

But industries are of different types and kinds which may briefly be discussed as under:

(1) Cottage Industries:

These are the industries in which not much capital or space is required. Usually a craftsman or few of them combine together work at their residence or with small accommodation which they manage to get on rent or have their own. The members of the family assist the craftsman in his work. Once the goods have been produced, the craftsman himself manages to sell them to his self- created customers.

In some advanced countries of the world, like Japan and Switzerland, cottage industries play a very important role in national economy. The greatest advantage of cottage industries is that manpower is not wasted and the people engage themselves in these industries usually in their spare time.

(2) Small Scale Industries:

‘Small’ scale industry is a comparative and relative term. But usually such an industry is an individual’s adventure. A person with some capital starts the industry and employs people to work under him. In small scale industries it is not the craftsmanship or the manual power which counts, but it is machine and technical knowhow which gets preference.

(3) Private Sector Industries:

Then comes private sector industry. It is a kind of industry which is set up by few individuals with their own capital. They manufacture such commodities, which according to them, will be readily accepted by the society and through which they will get maximum profit. In such an industry profit or loss is that of the individual or individuals who have set up the industry. Such an industry has considerable freedom in the personnel policy.

(4) Large Scale Industries:

Large scale industries are the nerve centre of a nation. These industries need large capital, machine and space. In it there is great respect for technical experts. There is clear division of labour and each one is required to confine oneself to a particular job allotted to him. Similarly whole industry works under a well organised system. The contacts between the management and the employees are impersonal rather than personal. Large scale industries are usually faced with problems of employer-employee relations.

(5) Public Sector Industry:

But today many states feel that private sector industries do not take social needs into consideration. It is also felt that these industries exploit their employees to the maximum. Accordingly in very many states of the world the states themselves have set up important industries. The money needed in setting up such industries is spent by the state. The profit or loss in running such industries is borne by the society as a whole.

(6) Joint Sector Industry:

It is a type of industry in which capital and control is neither exclusively in the hands of the state nor that of the private individuals, but in it, both the state and the private individuals combine together. In such an industry usually the share capital and investment of state is more than that of the private individuals thereby giving the former a weightage or an upper hand over the later.

These are some of the important types of industries in every society. But the greatest need for every new industry is that it should be given sufficient protection so that it is in a position to face competition from the outside world. In case no protection is given, the result will be that it will not survive competition from more developed countries and be killed in its infancy.

Essay # 3. Characteristics of Modern Industry :

Modern industrial organisation is quite different from the past. In the past, there was direct, close and personal relationship between the employers and the employees. In many cases crafts men used to work at their residences engaging all the members in the work, in one way or the other. They also used to take pride in the nature of their work. There was no division of labour and also no problem of distribution or consumption.

The producer himself was the distributor. Where an employer engaged others to do work for him, iron law of wages was applied. The employee was paid so little that it was not only difficult but rather impossible for him to make his both ends meet. He was not allowed to raise his voice and there was no job security and his job was always threatened and ever in risk.

But in so far as modern industry is concerned conditions are quite different.

Modern industry has its own characteristics which may briefly be discussed as under:

1. Big Industries:

Our modern industries are usually quite big in which a large number of people are employed all belonging to different cadres holding high and low positions, skilled, semi-skilled and un-skilled.

2. Trade Unionism:

Those who work in an industry usually organise themselves into trade union. These organised people then try to bargain with the management for better working conditions, better emoluments and for getting other facilities.

3. Impersonal Character:

In modern industry worker has no close affiliation or association with the goods which he is producing. It is primarily because one who starts the work does not finish it. It is to pass through various stages before it completely becomes a finished product. The top bosses meet together and have personal contacts only and do not know much about workers.

4. Amenities:

In every industry employer is supposed to provide amenities to the employees. He is to see that the employees have all such amenities which are conducive for efficient working. Similarly he is also to see that safety has been provided to them, if they are working on dangerous machines.

5. Headache of Management:

When interests of the workers themselves clash it becomes the headache of management to settle them. Not only this, but the management is required to create capital, to make arrangements for the continued supply of raw material and sale of the finished products.

6. Need for Money:

A good modern industry cannot run without finances. In the past a craftsman could manage with little money, but today heavy finances and amounts are needed to keep the industry running.

7. Stress on Organisation:

In industry today, the employer lays more stress on organisation rather than the employee. He will try to popular his brand rather than the craftsman. What he believes is that once his organisation is sound and his brand has become popular, the things will go smooth, whether there is one craftsman or the other working on that.

8. Division of Labour:

In the past there used to be no division of labour in the industry. But today there is clear division of labour. Each person is required to do only a particular type of job, leaving the rest to the care of the others. One does not know through how many stages raw material will pass before taking the shape of finished product.

9. Problem of Sale:

In the past craftsmen used to produce very limited number of goods, which he could very easily sell in the market. But today articles are purchased in bulk. Bulk production has created problem of sale in the market. Little slowness in sale will mean hoarding of stocks, which will in turn create problem of raising additional capitals, for keeping the factory moving.

10. Need for Specialisation:

Each industry tries to have specialisation in one field or the other. It is with this end in view that need and necessity of specialists in each industry is increasing and they are commanding more and more respect.

11. Desire for Monopoly:

Still another feature is that every industry wants to have less competition and more monopoly conditions. It wants to avoid wastage of money and human resources in competition. But inspite of this desire, almost every industry is faced with competitions from other industries.

12. Adequate Wages:

In our industry of today iron law of wages cannot apply. Today it is believed that an employee must get adequate wages, so that he can pull on reasonably well, along with his family. The industry should pay him enough so that he can maintain his social status.

13. Stress on Profit:

An industrialist of today cares more for his product than for anything else. He wants to be sure that minimum is spent and maximum is saved so that his margin of profit increases. More an industrialist saves, happier he feels.

14. Less Manual Labour:

In an advanced and developed industry there will be less manual labour. It is because today it is believed that machine can work with more accuracy, uniformally and quickly as compared with the manual labour.

15. Stress on Human Relations:

Then in our industry of today much stress is laid on establishing and having happy and healthy human relations. The employer will try to approach every problem on human grounds, if really today he wants to progress and prosper.

16. Rise of Industrialists:

Today, needs and necessities of the society have become very complex and complicated. In order to meet these needs, a class of industrialists, who have sufficient wealth, has come into existence. These people invest and try to add to their wealth by earning. These people are socially respected and enjoy great social status.

Essay # 4. Industrial Productivity:

I. factors causing low productivity:.

One of the factors making for low productivity is constraints on production. It is useful here to note the trends in capacity utilisation in the industrial sector. Surprisingly, in spite of the importance of the subject, very few systematic studies exist, especially at the aggregate level. Given this position, the results put out by the Centre for monitoring the Indian economy on capacity utilisation in manufacturing industries come too handy.

According to these results, in 1980 capacity utilisation in manufacturing industries was 74.4 per cent, suggesting that capacity is under-utilised to the extent of a maximum of 25 per cent.

ii. Falling Capital Utilisation:

Another disturbing Act is that capacity utilisation is exhibiting a falling trend. During the decade of the seventies capacity utilisation has fallen from 85.2 percent in 1970 to 74.4 per cent in 1980. But the data also threw up some beautiful signs since the trend can be broken up into two distinct phases, the first one from 1970 to 1974 exhibiting a market fall in capacity utilisation.

At this stage, it would be instructive to note the rationale for fall in capacity utilisation. The overall growth in capacity during the period has been around 88 per cent as compared to a growth of 64 per cent in production. Capacity growth of the order of 6.5 per cent per annum could not by any reasonable criteria be considered excessive.

iii. Capacity Utilisation:

Information of capacity utilisation presented in ICICI’s financial performance of companies for 1979- 80, is also interesting. According to data presented in the study, the median value of capacity utilisation for sample of238 public limited companies was 67 per cent in 1979-80, showing a marginal decline from the previous year. The utilisation was especially low in companies in the machinery manufacture industries.

Factors Causing Low Utilisation of Capacity:

This lower utilisation of capacity not only in industry but also in agriculture could be traced to many factors. In some sectors, inadequate demand, as currently in textiles, could be the constraint. But it is now widely recognised that quite some part of under-utilisation of capacity could be accounted for by deficiencies in the basic infrastructure of power, coal and transport. Many of these are being attended to and many of the lagging sectors have shown improved performance lately.

iv. Stagnation in Productivity:

Stagnation in productivity can also be overcome by improving the incentives to work and lessening industrial disputes. However, one of the unfortunate elements in a situation where productivity is to be stepped up is the loss in mandays due to unhealthy industrial relations. Since 1951 there have been an increasing number of losses of mandays.

This is an area where action could bring quick results by way of increased-production to boost productivity. Recent measures to limit strikes should be considered as only the first step to provide the breathing time necessary to create an atmosphere where the basic causes leading to the need for strikes are less end as it is difficult to completely eliminate them.

Essay # 5. Causes of Slow Growth of Industries:

The data pertaining to the rate of industrial growth indicates that industrial growth was rapid during the first two decades, especially during the Second and Third Plans. Industrial growth, however, slowed down after the Third Plan. The scenario of consistent structural deterioration since the mid-sixties was primarily the result of policy actions and inactions including the downgrading of production process.

The following factors account for the slow- growth of industries since mid-sixties:

(i) Fall in Savings and Capital Formation:

Both net domestic saving and net domestic capital formation steadily rose over the first three Plans period. Thereafter, the absolute level of net investment in real terms fell even below the First Plan level. For the ten years period from i.e. 1966- 67 to 1976-77, the average growth rate in real investment worked out to 3.1 per cent per annum as against 12.6 per cent per annum during the preceding decade.

In 1985-86, the growth rate of gross domestic capital formation rose to 24.6 per cent but it came down to 23.4 per cent in 1986- 87, and further to 22.1 in 1987-88. In 1989-90, 1990-91, 1991-92, 1992-93, 1993-94 and 1994-95 the growth rate of-gross domestic capital formation rose but due to the stringent monetary and fiscal policies of the government the industrial growth rate decelerated.

(ii) Slowing Down of Public Sector Investment:

The public sector is a major source of resource mobilisation in India. Investment in the public sector had slowed down after the Third Plan. Whereas the share of public sector in net domestic product steadily increased, the percentage of public sector saving to the sector’s share in net domestic product declined considerably.

The savings of the public sector have declined continuously from 3.2 per cent of gross domestic product in 1985-86 to 1.7 per cent in 1994-95. The declining trend of saving and capital formation in the public sector adversely affected the industrial growth.

(iii) Relaxation of Industrial Controls:

It was a common feeling that the public sector is encroaching too much in the spare of industrial activities and the private sector is subjected to some unnecessary controls abolition of industrial licensing (except in case of 6 industries), automatic expansion of plant capacities, import relaxation, abolition of asset limit on MRTP companies etc., led to many distortions, and economic difficulties.

(iv) Fall in Development Expenditure:

Development expenditure of the Central Government had formed about 60 per cent of the total expenditure in 1964-65; thereafter, it declined to such a low proportion as 45.2 per cent in 1973-74, but rose to 45.6 per cent in the Budget 1996-97. The disproportionate growth of non-development expenditure has been responsible for erosion in the development effort.

(v) Shift in Terms of Trade:

Since mid-sixties a shift in terms of trade in favour of the agricultural sector has taken place. Industrial stagnation has followed from the relatively more successful assertion of the bargaining strength of industrialist class by landlords and the rural rich in recent years.

(vi) Centralisation of Capital:

Centralisation of capital takes place when large business houses take control of smaller companies by devices like intercorporate investment.

(vii) Speculative Dealings:

Economic surplus concentrated in the hands of rich farmers and large industries has been used to a greater extent for speculative purposes. This has led to fall in resources for development.

(ix) Political Instability:

After 1989 there has been a climate of political instability which has adversely affected both the domestic conditions following the unfortunate Ayodhya incidents have also affected industrial activities.

In brief, the Indian economy is suffering from the problem of structural retrogression which has slowed the pace of industrialisation. If the trend is to be reversed, what is imperative is that the rate of investment in the economy should be stepped up considerably.

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Topic 1: Different types of industries require different types of personal qualities in workers. What do you think are the necessary qualities for people working in a bank? Give specific reasons and examples to support your opinion. ESSAY

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Industries: An Introduction to Industries in India, Classification, Examples

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Did you know after Agriculture, Textile is the biggest industry in India? In fact, due to the many natural resources available in India and access to cheap labor, there has been great industrial growth in recent years. Let us take a look at the industries of India and the factors that affect them.

  • Introduction to Industry

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  1. 3 Types of Industry

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  2. Types of Business Industries

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  3. Types of Business Industries

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  4. Types of industries using graphic organizer

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  5. 68 Type of Industries (Complete List: All You Need To Know)

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  6. Explore the 5 Types of Industries

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  6. Q. What are basic industries ? give an example.

COMMENTS

  1. Industry

    industry, group of productive enterprises or organizations that produce or supply goods, services, or sources of income.In economics, industries are generally classified as primary, secondary, tertiary, and quaternary; secondary industries are further classified as heavy and light.. Primary industry. This sector of a nation's economy includes agriculture, forestry, fishing, mining, quarrying ...

  2. Types of Business Industries

    Construction Industry. Construction industry is involved in the establishment of various structures, which include canals, dams, roads, and buildings among others (Michaels, 2011). As such, construction industry is more productive in cases where favorable climatic conditions prevail. For example, rainy and windy environments tend to discourage ...

  3. Introduction to Industry: Classification, Types, Distribution ...

    Classification of Industries. 1. Raw material. Agro-based industries: These industries use plants and animal-based products as their raw materials. Examples, food processing, vegetable oil, cotton textile, dairy products, and leather industries. Mineral based industries: Mineral-based industries are based on mining and use 'mineral ore ' as ...

  4. Essay on Industries

    Essay on Industries. The progress of a country is to a great extent measured by its industrial development. To be a strong power in the world, a country needs to be industrially advanced too. Although agriculture has its own importance and provides the basic necessities of life, it alone cannot take a country forward.

  5. Essay on Industry

    Industries can be classified into three types: primary, secondary, and tertiary. Types of Industries. ... 250 Words Essay on Industry The Evolution of Industry. The term 'industry' encompasses a broad spectrum of human activities related to the production of goods and services. The evolution of industry from agrarian societies to today's ...

  6. Chapter 11: Industry

    Pop culture is a function of industry. Geography is concerned with places and industries that changed the way the world operates. It changed the relationships between places. Places that industrialized early gained the ability to economically and politically dominate other parts of the world that had not industrialized.

  7. Manufacturing industry: types, examples, and characteristics

    Among the main manufacturing industries are: Textile industry. It comprises activities that transform cotton, linen and raw wool into yarns and fabrics. Food industry. It comprises activities that transform raw materials, mostly of agricultural origin, into food for human and animal consumption. Chemical industry.

  8. Industry Definition in Business and Investing

    Industry: An industry is a classification that refers to groups of companies that are related based on their primary business activities . In modern economies, there are dozens of industry ...

  9. Industries Essay Examples for Free

    Students usually write about different types of industries and their specializations. Also, an essay on industries might focus on the five factors of industrialization. Another option is to look at industries' potential in remote areas. Finally, you might want to consider the common obstacles and limitations connected to local industries.

  10. Industry Type's Influence on Business Strategy

    The type of the industry influences the business strategies in the following ways: Various industries are characterized by specific features which make them unique and distinguishable from the other industries. This uniqueness call for definite strategies in order to attain the business goals and this uniqueness are identifiable in the input ...

  11. Introduction to Industry and its types

    Examples are heavy machinery or the oil and petrol industry. Small scale industries are exactly the opposite of large scale industries. They require less capital and the technology used is not advance. Furthermore, in this type of industry, the use of manual labor is more. Examples of this industry are pottery, weaving, etc.

  12. Introduction To Industry

    An industry is a group of many organizations involved in the production as well as in the manufacturing or handling of the same type of product and service. All the industries are part of the secondary activity. The secondary or the manufacturing converts all the raw materials into products of more value to the people.

  13. Industrialization: What It Is, Examples, and Impacts on Society

    Industrialization is the process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods. Individual manual labor is often replaced by mechanized ...

  14. Introduction to Industry: Classification, Types, Distribution and

    Classification of Industries. 1. Raw material. Agro-based industries: These industries use plants and animal-based products as their raw materials. Examples, food processing, vegetable oil, cotton textile, dairy products, and leather industries. Mineral-based industries: Mineral-based industries are based on mining and use 'mineral ore' as ...

  15. Industries Essays: Examples, Topics, & Outlines

    The future of cryptocurrency in global financial markets and economic systems. 8. The potential for cryptocurrency to disrupt traditional industries and create new economic opportunities. 9. The role of decentralized finance (DeFi) in shaping the future of.... View our collection of industries essays. Find inspiration for topics, titles ...

  16. Large Scale Industries

    Advantages of Large Scale Industries. The following are the prime advantages of a large-scale industry. Economical Production using Machinery- The large-scale industry usually installs the latest machinery, which helps in economical bulk production. The machinery works continuously, and enterprises reap the benefits.

  17. Types of Industries That Contributes to the Market Economy's ...

    The term primary industry means, getting something directly from the earth or using the natural resources for business. E.g. farming or mining etc. The term secondary industry means using raw materials to make products for business, example of secondary industry; turning dairy into milk to...

  18. PDF Strategies for Essay Writing

    When you write an essay for a course you are taking, you are being asked not only to create a product (the essay) but, more importantly, to go through a process of thinking more deeply about a question or problem related to the course. By writing about a source or collection of sources, you will have the chance to wrestle with some of the

  19. Essay on Industries in India (5 Essays)

    Essay on Industrial Productivity. Essay on the Causes of Slow Growth of Industries. Essay # 1. Evolution of Indian Industries: In 1919 first world war came to an end and with that economic depression started, which continued all over the world upto 1933. But inspite of this in the country, there was progress on the industrial front.

  20. The Four Main Types of Essay

    An essay is a focused piece of writing designed to inform or persuade. There are many different types of essay, but they are often defined in four categories: argumentative, expository, narrative, and descriptive essays. Argumentative and expository essays are focused on conveying information and making clear points, while narrative and ...

  21. Topic 1: Different types of industries require different types of

    Topic 1: Different types of industries require different types of personal qualities in workers. What do you think are the necessary qualities for people working in a bank? Give specific reasons and examples to support your opinion. ESSAY Each job has various types of personal qualities that are needed for that job.

  22. Industries: An Introduction to Industries in India, Classification

    Industries. Did you know after Agriculture, Textile is the biggest industry in India? In fact, due to the many natural resources available in India and access to cheap labor, there has been great industrial growth in recent years. Let us take a look at the industries of India and the factors that affect them. Introduction to Industry.

  23. Essay About Industries

    Types of Paper Writing Services. Why choose Us? Essay About Industries, Confederate Flag Essay Titles, Ap Seminar Free Response Guide, Narrative Essay On The Rich Also Cry, Deck Hand Cover Letter Example, How To Informational Essay, Personal Statement Business And Accounting. To describe something in great detail to the readers, the writers ...