IMPACT OF INDUSTRIAL REVOLUTION (IR) ON INTERNATIONAL BUSINESS

The aim of this paper is to discuss the impact of industrial revolution on international business. The world of IR4.0 not just revolves around smart and connected machines and systems, but it fused the interaction of these technologies with physical, digital and biological domains. Industrial revolution has changed in manufacturing and transportation which began from fewer products being made by hand and more are being made using machines in a large-scale facility. Data for thisstudy were obtained from existing literatures on industrial revolution in multinational companies. The methodology heavily relied on existing previous literatures on the subject being dealt with. The findings indicate that the increasingly inaccessible discourse on technological advancement is making it harder for the public and for governments to mitigate the externalities of automation and other changes. It also dictates the impact of globalization towards the economy is inevitable for companies worldwide; they would have to resort to IR4.0 to sustain and thus stay relevant in the business world. Therefore, companies will have to adopt IR4.0 in their management, implement and strategize to keep their stand in the competitive world.