Post-industrial societyIn sociology, the post-industrial society is the stage of society's development when the service sector generates more wealth than the manufacturing sector of the economy. The term was originated by Alain Touraine and is closely related to similar sociological theoretical concepts such as post-Fordism, information society, knowledge economy, post-industrial economy, liquid modernity, and network society. They all can be used in economics or social science disciplines as a general theoretical backdrop in research design.
Fourth Industrial RevolutionThe Fourth Industrial Revolution, 4IR, or Industry 4.0, conceptualises rapid change to technology, industries, and societal patterns and processes in the 21st century due to increasing interconnectivity and smart automation. The term was popularised in 2016 by Klaus Schwab, the World Economic Forum founder and executive chairman, and has since been used in numerous economic, political, and scientific articles in reference to the current era of emerging high technology.
CorporationA corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and recognized as such in law for certain purposes. Early incorporated entities were established by charter (i.e., by an ad hoc act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration.
Strategic managementIn the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans.
Multinational corporationA multinational corporation (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC, to distinguish it from international portfolio investment organizations, such as some international mutual funds that invest in corporations abroad simply to diversify financial risks.
Industrial RevolutionThe Industrial Revolution, also known as the First Industrial Revolution, was a period of global transition of human economy towards more efficient and stable manufacturing processes that succeeded the Agricultural Revolution, starting from Great Britain, continental Europe, and the United States, that occurred during the period from around 1760 to about 1820–1840. This transition included going from hand production methods to machines; new chemical manufacturing and iron production processes; the increasing use of water power and steam power; the development of machine tools; and the rise of the mechanized factory system.
Dimensionless physical constantIn physics, a dimensionless physical constant is a physical constant that is dimensionless, i.e. a pure number having no units attached and having a numerical value that is independent of whatever system of units may be used. In aerodynamics for example, if one considers one particular airfoil, the Reynolds number value of the laminar–turbulent transition is one relevant dimensionless physical constant of the problem. However, it is strictly related to the particular problem: for example, it is related to the airfoil being considered and also to the type of fluid in which it moves.
Think tankA think tank, or policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, military, technology, and culture. Most think tanks are non-governmental organizations, but some are semi-autonomous agencies within government or are associated with particular political parties, businesses or the military. Think-tanks are often funded by individual donations, with many also accepting government grants.
