Compare traditional & modern industry"

The characteristics of modern industry

The new industrial model

It is based on:-new technologies and industries.-A focus on each consumer´s preferences.-A flexible,automated and highly specialised system of production.-The participation of emering countries in industrial development.

The key role of research

-New materials.This is vital in both raditional industries and in cutting-edge industries.-Nanotechnology.Using this technology,tiny electronic devices and much faster compuetrs have beee built.

The decentralisation of production

-A company locates the different phases of production in different countries.-A company subcontarcats a particular activity, such as marketing.-A company makes cooperation agreements with other companies.

Automation and industrial tertiarization

Modern industry uses automated production systems. -Employement.Fewer workers are required.-Specialized expertise.There is greater demand for technicians,managers and professionals who provide services.

The growth of multnational companies

A multinational is a large company with subsidiaries in many countries.The growth of multinationals is linked to the expansion of international trade and to advances in transportation,information technology and communications.