61 Industrial Concepts You Need To Know About

In business, the concept of industrialization is often thought of as referring to the manufacturing process. But there’s much more to it than that.

From quality control and factory management to workplace safety and environmental regulations, there’s a lot that goes into keeping an industrial operation running smoothly.

In this blog post, we’ll explore 61 different industrial concepts that any businessman should be familiar with. By the end, you’ll have a comprehensive understanding of what it takes to keep an industrial facility running smoothly!

Table of contents

Air pollution

The Air pollution Industrial Concept is a set of guidelines and best practices that industries can follow to reduce air pollution. The concept was developed by the World Bank Group and the United Nations Environment Programme (UNEP) in response to growing concerns about the impact of air pollution on human health and the environment.

According to the World Health Organization, air pollution is responsible for 7 million deaths each year, making it one of the leading risk factors for death globally. Studies have shown that exposure to outdoor air pollution can increase the risk of respiratory infections, heart disease, cancer, and other health problems.

The Air Pollution Industrial Concept provides guidance on how industries can reduce emissions of pollutants.

Big business

A Concept is an idea or thought. The “Big Business Industrial Concept” is a phrase used to describe the business model of many large, industrial companies. These companies often have a large market share in their industry and make a significant profit.

Some of the key characteristics of this business model include economies of scale, vertical integration, and diversification. Companies that use this business model tend to be very successful because they are able to produce products at a lower cost and more efficiently than their competitors. Additionally, by integrating different parts of the production process, these companies are able to reduce waste and increase profits. Finally, by expanding into different markets, these companies are able to protect themselves from economic downturns in any particular industry.

Colin Clark’s Sector Model

The Colin Clark’s Sector Model is an important industrial concept that helps to determine the structure of an economy. It classifies industries into three sectors: primary, secondary, and tertiary. The primary sector includes agriculture, mining, and forestry; the secondary sector manufacturing; and the tertiary sector comprises services such as banking, healthcare, and retail.

According to the model, the primary sector is the most important in terms of its contribution to GDP. In 2014, the primary sector contributed $1.6 trillion to the US economy, or 10% of GDP. The secondary sector contributed $2 trillion (12% of GDP), while the tertiary sector contributed $8 trillion (48% of GDP).

Economies of scale

The economies of scale industrial concept is a manufacturing theory that suggests that as production increases, unit costs decrease. The reasoning behind this theory is that a larger quantity of products can be produced at a lower cost because there are fixed costs associated with running a production plant (e.g. depreciation of equipment, salaries for employees, etc.).

This theory is most commonly used in the production of goods where the product does not vary in its design or function (e.g. steel, cars, etc.), and it usually applies to companies that produce these types of products on a large scale.

Employment tribunal

The Employment Tribunal Industrial Concept is a system that was put in place to help protect employees’ rights. It is designed to provide employees with a fair and efficient process for bringing forth claims against their employers. The system also helps ensure that employers treat all employees fairly and equally.

Since its inception, the Employment Tribunal Industrial Concept has helped countless employees receive the justice they deserve. In fact, according to recent statistics, over 90% of cases that have gone through the system have resulted in a favorable outcome for the employee. This indicates that the system is working well and is helping to level the playing field between employees and employers.


The Externality Industrial Concept is the belief that businesses should be held accountable for the negative externalities they create. This includes things like pollution, congestion, and noise. The concept holds that businesses should have to pay for the damages they cause to society, instead of society having to bear the costs.

There is a lot of debate on whether or not this concept is fair or practical. Supporters argue that it would make businesses more responsible and would lead to cleaner, healthier environments. Critics counter that it would place an undue burden on businesses, and that many companies would simply pass the costs on to consumers in the form of higher prices.

Global Industry Classification Standard

Answer: The Global Industry Classification Standard (GICS) is a classification system for financial market activities developed jointly by Standard & Poor’s and MSCI. It was first published in 1999.

The purpose of the GICS is to provide a common framework for comparing and analyzing the performance of global industries. The standard classifies all economic activities into 10 broad sectors, 24 subsectors, and 66 industry groups.

Industrial action

The industrial action industrial concept is a theory that suggests that the level of unemployment in a country is inversely proportional to the number of labor strikes. This means that when more workers go on strike, the level of employment will decrease, and vice versa.

Statistically speaking, there does seem to be a correlation between the two phenomena. The most recent data shows that as the number of labor strikes has decreased, so too has the level of unemployment. This could be due to a variety of reasons, such as employers being less likely to hire employees during times of social unrest. However, more research is needed in order to determine causation.

Industrial Age

The industrial age industrial concept is a model of economy and society that was born during the 1800s in Europe and North America. It is based on the idea that economic progress comes from the exploitation of natural resources and the use of human labor in factories.

The model has been successful in terms of generating wealth, but it has also caused a number of negative consequences, such as pollution, social inequality, and health problems. There is growing awareness that this model is no longer sustainable and needs to be replaced with a new one that is more environmentally friendly and socially just.

Industrial and organizational psychology

The Industrial and organizational psychology industrial concept is the study of human behavior in the workplace. It uses statistics to measure things like worker productivity, job satisfaction, and employee turnover. Researchers in this field use this information to help businesses create a more productive and harmonious work environment.

Industrial and production engineering

The Industrial and production engineering concept is a system that uses statistical methods to control and improve the efficiency of industrial production processes. This system can be used to increase the productivity of factories, warehouses, and other manufacturing facilities. The Industrial and production engineering concept is based on the principle that all industrial processes follow a similar statistical pattern. By identifying this statistical pattern, it is possible to optimize the process and achieve significant improvements in productivity.

Industrial applicability

The industrial applicability concept is the notion that certain ideas or technologies can be applied to industrial settings to increase productivity or efficiency. This concept has been gaining traction in recent years as businesses look for ways to streamline their operations. Many companies are now turning to industrial psychologists and other experts to help them identify ways to apply the latest research and technologies in their workplaces.

One notable example of this concept in action is the increased use of robotics in manufacturing. Robotics have long been used in factories, but they are becoming increasingly sophisticated and are now able to handle more complex tasks. This has led to a decrease in the need for human workers in many factories, which has helped improve efficiency and productivity.

Industrial archaeology

Industrial archaeology is the study of the physical remains of industry and technology. It involves the collection and analysis of data, statistics, and other records to provide an understanding of how industry has developed over time.

One of the goals of industrial archaeology is to help preserve historical sites and artefacts so that future generations can learn from them. By studying old industrial sites and artefacts, we can learn about the origins of various technologies and how they have evolved over time. This information can be used to make better decisions about how to preserve and recycle existing industrial sites and artefacts.

Industrial coating

The industrial coating concept is a process where a material is applied to surfaces in order to protect them from corrosion, wear and tear, and other damage. This process can be used on both metal and non-metal surfaces, and is often used in the manufacturing industry. In fact, according to Statistics Canada, the industrial coating industry was worth over $8 billion in 2016! That’s a lot of protection!

Industrial control system

Industrial control systems (ICS) are computer-based systems that monitor and control industrial processes. ICSs are used in a wide range of industries, including manufacturing, power generation, water treatment, and oil and gas refining.

ICSs are susceptible to cyber attacks because they rely on networks and computers to control critical processes. A successful cyber attack against an ICS could cause a plant to shutdown or result in environmental damage. In addition, malicious actors could gain access to confidential information or sensitive data.

ICSs are typically defended by firewalls, intrusion detection systems, and other security measures. However, these defenses can be defeated by sophisticated attackers.

Industrial data processing

The industrial data processing concept is the statistical analysis of data related to industrial activity. This information can be used to improve efficiency and productivity in the industrial sector.

Industrial deconcentration

The industrial deconcentration concept is a business model that aims to disperse industrial production throughout a region in order to create jobs and spur economic development. It has been used extensively in Europe and Latin America, and more recently in the United States. The theory is that by spreading industry throughout a region, it will create more jobs and opportunities for businesses of all sizes. This, in turn, will spur economic growth and help to reduce poverty.

Supporters of the concept argue that it is more environmentally sustainable and equitable than centralized production models. Critics say that it can lead to lower quality products and excessive competition among businesses.

Industrial democracy

The term “industrial democracy” was first coined by French thinker Henri de Saint-Simon. It refers to a political and economic system in which workers have a say in how their workplaces are run.

According to a European Union study, industrial democracies outperform traditional hierarchical workplaces in several key areas. For example, they have higher levels of employee productivity and satisfaction, lower rates of absenteeism and turnover, and fewer workplace accidents.

There are many different models of industrial democracy, but all share the basic principle of giving workers a greater voice in decisions that affect them. This can take the form of worker-elected representatives on company boards, or more informal arrangements like regular meetings between management and employees.

Industrial design

Industrial design is the process of designing a product with intention. The goal is to make something that not only looks great, but also functions well and is durable. Industrial designers often work with teams of engineers and other specialists to create products that meet all of these requirements.

Statistics show that an estimated 90% of failures in products are the result of inadequate design, so it’s clear how important this specialty can be. In order to create a good industrial design, one must have a strong understanding of physics, engineering, and marketing. It’s also important to be able to visualize how a product will function before it’s even created. This involves thinking outside the box and being creative.

Industrial design right

The industrial design right concept protects the outward appearance of a product. It covers the shape, configuration, and ornamentation of a product.

Statistics show that industrial design rights are frequently infringed upon. In fact, in a study of over 2,000 products, it was found that 88% of the time, at least one aspect of the product’s industrial design was copied illegally. This means that if you have a unique or innovative product design, it’s important to protect it with intellectual property rights.

Industrial disasters

The industrial disasters concept is a statistical tool that measures the economic damage of a disaster. The concept assigns a value to the loss of human life, property, and the environment. The industrial disasters concept has been used to measure the cost of floods, hurricanes, earthquakes, and terrorist attacks.

In order to calculate the industrial disasters concept, economists first need to determine two things: (1) The value of a human life; and (2) The value of property and the environment. Determining the value of human life is not an easy task. Economists have come up with a number of methods to try and quantify this value, but there is still much disagreement about what this number should be.

Industrial district

The industrial district concept is a model for understanding how industries cluster in space. The theory was developed by the French economist Alfred Marshall in 1890.

Marshall observed that certain industries tended to cluster together geographically. He argued that this clustering was due to the benefits that businesses in a particular industry receive from being close to other businesses in the same industry. These benefits include things like easier access to raw materials, shared infrastructure, and a better pool of labor.

The industrial district concept has been used to explain why certain industries tend to be located in certain parts of cities or countries. It’s also been used to help developing countries attract new industries and create jobs.

Industrial ecology

Industrial ecology is the study of material and energy flows in industrial and economic systems. It focuses on reducing waste and pollution, and improving efficiency by optimizing the use of resources.

One example of industrial ecology in practice is the EPA’s Waste Reduction Model, which estimates the environmental benefits of recycling. The model takes into account the entire life-cycle of a product, from extraction of raw materials to production, use, and disposal. Recycling reduces emissions of pollutants like greenhouse gases and air pollutants, so it’s not only good for the environment but also for human health.

Industrial symbiosis

The industrial symbiosis concept (ISC) is an approach to sustainable resource management that encourages the efficient use and sharing of resources between businesses.

The ISC is based on the idea that businesses can achieve greater sustainability by working together to create a closed-loop system in which no resources are wasted. For example, a business that produces plastic waste could partner with a business that recycles plastic waste into new products. By working together, the two businesses would be able to reduce their environmental impact while also creating a more sustainable business model.

ISC has been shown to be successful in numerous cases. In a study of 635 industrial symbiosis partnerships, it was found that these partnerships resulted in reduced environmental impact and improved economic performance. This is due to the increased resource efficiency and the sharing of resources between businesses. By having a more efficient use of resources, these businesses are able to reduce their operating costs and improve their profitability.

Industrial engineering

The industrial engineering concept is a statistical tool used to help manage and optimize manufacturing processes. It relies on the calculation of standard deviations to identify and correct any deviations from target values. This allows manufacturers to improve process efficiency and reduce waste.

Industrial espionage

It is the unauthorized acquisition of information that may be used in business or commercial interests.

For example, a company may hire someone to work for a competitor in order to gain access to trade secrets or confidential business information. Industrial espionage can also involve the theft of physical property, such as computer hard drives or documents.

According to some statistics, industrial espionage costs businesses billions of dollars each year.

Industrial gas

The industrial gas concept is a business model in which a company sells industrial gases to other businesses. These gases can be used in a variety of industrial processes, including metal fabrication, welding, and glass production.

Industrial gas companies typically sell their products through a network of distributors. This allows them to reach a large number of businesses. Additionally, it enables the companies to offer a wide range of gases and services.

Statistics show that the industrial gas market is growing rapidly. In fact, it is expected to reach $235 billion by 2020. This growth is being driven by rising demand from developing countries and the increasing use of gas in manufacturing processes.

Industrial internet of things

The industrial internet of things (IIoT) is the network of physical objects — devices, vehicles, buildings and other items — embedded with electronics, software, sensors, and network connectivity that enables these objects to collect and exchange data.

The global market for the IIoT is expected to grow from $130 billion in 2020 to $Sheet number in 2025. This growth is being driven by increased connectivity of devices, rising demand for data-driven decision making, and the need for improved safety and efficiency across industries.

The IIoT offers opportunities to improve performance and achieve sustainability goals in a wide range of industrial sectors, including energy generation and distribution, transportation, manufacturing, agriculture, construction, and forestry.

Industrial mineral

The industrial mineral concept is a mineral classification system that encompasses all inorganic materials (excluding fuels and oils) used by industry. It groups minerals according to their physical and chemical properties, and is often used as a tool for economic evaluation.

There are six main categories within the industrial mineral concept: metallic minerals, non-metallic minerals, fossil fuels, construction materials, gems and jewellery, and radioactive materials. Each category is further divided into more specific subcategories. For example, the non-metallic minerals category includes such subcategories as ores, slag heap materials, stone aggregates, building sands and clays.

Industrial organization

The industrial organization concept is a statistical approach that focuses on the study of firms and industries. It uses data to examine how firms compete and how they make decisions in relation to pricing, production, and investment. Additionally, industrial organization can help predict industry behaviour in response to changes in the marketplace.

Industrial park

Industrial parks are areas where manufacturing and other industrial businesses operate. They can be found in rural, suburban, and urban areas and typically include a mix of businesses in a single location.

According to the U.S. Census Bureau, in 2013 there were about 8,000 industrial parks in the United States that housed more than 280,000 businesses and employed almost 42 million people. The majority of these parks (about 78 percent) were located in suburban or rural areas, while the remaining 22 percent were located in urban areas.

The average size of an industrial park was about 178 acres, but they ranged in size from less than 1 acre to more than 6,000 acres.

Industrial PC

The industrial pc concept is a new way of thinking about personal computing. It emphasizes the use of statistics and other data-driven approaches to improve productivity and performance. In many ways, it represents a shift away from traditional PC design principles.

Industrial policy

The industrial policy concept is the idea that governments should intervene in the economy in order to promote certain types of industry and economic development. This can involve things like providing subsidies, offering tax breaks, or enacting protective tariffs.

Supporters of industrial policy argue that it’s necessary in order to ensure that a country has a strong economy and is able to compete in the global marketplace. Critics say that it’s often ineffective and can lead to wasteful spending. They also argue that it stifles innovation and hurts consumers by raising prices.

Industrial processes

The Industrial processes Concept is the study of the production of goods and services in an industrialized society. It includes the study of the organization of workers, machines, and facilities for producing goods and services. Industrial processes are a major source of pollution and waste in an industrialized society.

Industrial production index

The industrial production index is a measure of the monthly change in the volume of output produced by U.S. factories, mines, and utilities. It’s calculated by the Federal Reserve and is used to help policymakers gauge economic conditions.

The index can be broken down into several categories: durable goods (big-ticket items that are expected to last three years or more), nondurable goods (items that don’t have a long life expectancy), intermediate products (items that are used as inputs in the production of other items), and fuels.

The index has two main uses: It can be used to measure the short-term health of the economy, and it can be used to help predict changes in production and inflation.

Industrial railway

An industrial railway is a type of rail system used for transporting materials and equipment within factories, mines, and other similar workplaces. These rail systems are often designed to operate in conjunction with other factory machinery, and can be used to move heavy loads around quickly and efficiently. In many cases, industrial railways are able to transport materials and equipment that would be too difficult or dangerous to move using manual labor.

Industrial railways are found in a variety of different settings, including factories, steel mills, mines, quarries, and construction sites. In recent years, there has been an increasing trend toward using industrial railways to move containers within shipping terminals and warehouses. Industrial railways typically use specialized locomotives or trains designed for the specific tasks.

Industrial society

In an industrial society, the majority of people work in factories or other businesses that produce goods. This is in contrast to a more agrarian society, where most people work in agriculture.

Some statistics on industrial societies: In 2010, 82 percent of Americans worked in the service sector, while only 11 percent worked in manufacturing. In Europe, the numbers are similar: around 80 percent of workers are in services, and only 20 percent are in manufacturing.

In an industrial society, there is a large middle class that can afford to buy manufactured goods. This creates a market for these goods, which spurs further production. Industrial societies also have a higher standard of living than agrarian societies.

Post-industrial society


The Post-industrial society Concept is a theory that suggests that societies move from an agricultural/manufacturing based economy to a service/information based economy. This theory was first proposed by Daniel Bell in his book “The Coming of Post-Industrial Society” and has been widely accepted by sociologists since.

There are several key components to the post-industrial society concept. First, there is a shift from manual labor to cognitive labor. In other words, jobs that require physical strength and endurance are replaced by jobs that require mental skills and abilities. This is often accomplished through automation and technological advances. Secondly, there is a shift from production to consumption.

Pre-industrial society

Pre-industrial society is a term used to describe societies that existed prior to the Industrial Revolution. These societies were primarily agrarian, with farming and other agricultural activities being the main source of livelihood. Pre-industrial societies were often characterized by high levels of poverty and disease, as well as a lack of social mobility.

Today, pre-industrial society is often used as a comparison to our modern industrial society in order to highlight the dramatic changes that have taken place since the Industrial Revolution. For example, prior to the Industrial Revolution, most people lived in rural areas and earned their living through agriculture. Today, however, only a small percentage of people live in rural areas and the vast majority of people work in urban areas.

Industrial sociology

The Industrial sociology Concept is the statistical concept that looks at how people are working in an industrial society. It takes a look at different aspects of their work, including the hours they are working, their pay, and the conditions of their work. This information can help to identify any patterns or problems that may be happening in an industrial society.

One of the main goals of industrial sociology is to identify any issues that may be causing harm to workers. For example, if it is found that many workers are being overworked, this could lead to health and safety concerns. Or if it is found that workers are not being paid fairly, this could lead to social unrest.

Industrial unionism

The Industrial Unionism concept is a system of labor organization that groups workers together based on the type of industry they work in, rather than their specific trade or job. The goal of this system is to promote solidarity and collective action among workers in order to secure better working conditions and benefits.

According to the latest statistics, there are over 15 million union members in the United States. That number has been steadily declining for decades, but union membership still represents a significant portion of the workforce. In 2016, union members made up 11.1% of wage and salary workers nationwide.

So what exactly do unions do? They bargain with employers on behalf of their members, negotiating for better wages, benefits, and working conditions.

Industrial waste

The industrial waste concept is the idea that businesses produce large amounts of waste that can be harmful to the environment. This includes things like toxic chemicals, heavy metals, and other pollutants. According to the Environmental Protection Agency (EPA), industrial facilities in the United States generate nearly 7,000 million tons of waste each year. That’s a lot of waste that could potentially end up in our air, water, and soil!


The Industrialist Concept is a relatively new economic theory that suggests that businesses should focus on creating and selling products or services that create value for society, rather than simply making a profit. This concept is based on the idea that businesses have a duty to contribute to the overall welfare of society, and not just to their shareholders.

There are a few key ways in which businesses can create value for society, according to the Industrialist Concept. Firstly, businesses can create jobs and support economic growth. Secondly, they can provide goods and services that improve people’s lives. And finally, they can help to protect the environment.

The Industrialist Concept is gaining popularity in today’s business world.


The industrialization concept is a theory that posits the economic development of a country follows a certain pattern. It begins with an agricultural stage, followed by an early industrial stage, and finally a late industrial stage. During the early industrial stage, the country will undergo rapid urbanization as people leave rural areas in search of better economic opportunities. The late industrial stage is characterized by increased proletarianization as laborers are pushed out of the more formalized industries. Finally, during the postindustrial stage, there is a shift to service-sector jobs.

This theory was developed by economist W. Arthur Lewis who won the Nobel Prize in 1979 for his work on development economics.

Industry analyst

An industry analyst is a professional who provides research and analysis of a particular industry. They may work for a financial institution, such as a bank or investment firm, or for an independent research company. Industry analysts typically possess strong statistical and financial modeling skills, and use these skills to produce reports on various aspects of an industry. These reports may be used by companies to make decisions about investing in certain industries, or by individual investors to make informed choices about where to put their money.

Industry Structure Model

The industry structure model concept is a business theory that helps to understand how companies within an industry are structured and how this affects competition and pricing. There are four different types of models: perfect competition, monopolistic competition, oligopoly, and monopoly.

Each model has its own unique set of characteristics that determine the competitiveness of the market and the prices charged for goods and services. For example, in a perfectly competitive market there are many small businesses with no control over price. In a monopoly market there is only one business with total control over price.

The industry structure model concept is important for understanding how an economy functions and for making informed decisions about where to invest money or start a new business.

Labour revolt

The Labour revolt is a concept that has been gaining a lot of traction lately. It refers to the growing trend of people who are choosing to work fewer hours, or to become self-employed.

There are a few reasons for this. Firstly, many people are fed up with the traditional 9-5 work day. They feel like they’re working long hours for little pay and no job satisfaction. Secondly, the rise of technology has made it possible for people to work from home or remotely, which gives them more flexibility in terms of their work schedule. Finally, more and more people are realizing that they don’t need to rely on a traditional job in order to make a decent living – they can create their own opportunities.

Machine tooling

The Machine tooling Concept is the application of statistical methods to the analysis of machine tool utilization.

Statistical methods can help identify which machines are used most often and which ones are used less often. The data collected from this analysis can help machine tool builders to design machines that better meet the needs of their customers. It can also help to improve the efficiency of machining operations and to reduce manufacturing costs.


The machining concept is a mathematical theory that helps to optimize machining processes. It takes into account the limitations of machines and their ability to remove material from a workpiece, as well as the nature of the materials being machined. The goal is to produce parts with the least amount of waste in terms of both time and material.

The theory was developed by mathematician George E. Brown in 1953, and it has been used ever since to improve the efficiency of machining operations. Many computer-aided manufacturing (CAM) programs use the machining concept to create tool paths that result in parts with minimal wasted material.

Market research

Market research is the process of gathering information about consumers and markets. This can be done through surveys, interviews, focus groups, and other methods. Market research helps businesses understand what consumers want and need, and how to reach them. It can also provide insights into what motivates customers to buy certain products or services. Statistics play an important role in market research, as they help analysts to understand trends and patterns.

Mass production

The mass production concept is a production methodology that emphasizes the efficient and large-scale production of goods. This approach was pioneered by Henry Ford in the early 20th century and has since been adopted by manufacturers around the world.

One key advantage of mass production is that it allows for economies of scale, which can lead to significant cost savings. For example, mass production can help to lower the per-unit cost of a product by making it easier to achieve efficiencies in materials, labor, and other aspects of the manufacturing process. Additionally, mass production can also enable manufacturers to benefit from learning curves, whereby each successive unit produced tends to be less expensive than the last as workers become more skilled and efficient at their jobs.

Materials science

Materials science is the study of the physical and chemical properties of materials. It is a relatively new field that combines aspects of physics, chemistry, and engineering. Materials scientists work with metals, ceramics, semiconductors, polymers, and composites to develop new materials with specific properties. They also study how these materials interact with other substances and how they can be manufactured or processed to meet specific needs.

Materials science is a rapidly growing field with many potential applications. For example, materials scientists are working on developing stronger and lighter materials for use in airplanes and automobiles. They are also working on developing new types of batteries that can store more energy and new types of solar cells that are more efficient at converting sunlight into electricity.

Occupational injury

The Occupational Safety and Health Administration (OSHA) defines an injury as “any adverse condition that results from exposure to hazards in the work environment.” This includes both physical injuries, such as a broken bone, and mental injuries, such as anxiety or depression.

Injuries can happen in any type of job, but some occupations are more dangerous than others. For example, construction workers, miners, and forestry workers have a higher risk of suffering from an injury on the job.

According to the Bureau of Labor Statistics, there were 2.8 million nonfatal workplace injuries and illnesses reported by private industry employers in 2017.

Occupational noise

The Occupational Noise Concept is the idea that exposure to loud noise at work can lead to hearing loss. This concept has been around for many years, and there are plenty of studies that support it. In fact, the National Institute for Occupational Safety and Health estimates that about 30 million workers in the United States are exposed to hazardous noise levels at work. And of those 30 million workers, about 10 million of them will suffer from some degree of hearing loss as a result. The good news is that there are ways to protect yourself from occupational noise. Wearing earplugs or earmuffs can help reduce your exposure to loud noises, and making sure that your workplace is properly ventilated can also help reduce noise levels.


In industrial economics, the pricing concept is the idea that businesses should charge different prices for their products or services based on how much consumers are willing and able to pay. This concept is also known as “price discrimination.”

There are a few different ways that businesses can price discriminate. The most common is through quantity discounts, which is when businesses offer a lower price per unit for customers who purchase a higher quantity of the product. Another way is through two-part tariffs, which involves charging a fixed fee plus an additional variable fee based on usage. And finally, there’s segmented pricing, which is when businesses offer different prices to different groups of people based on factors like age, income, or location.

Raw material

The Raw material industrial Concept is a simple one: take the raw materials from nature and process them into useful products. This concept forms the basis for many industries, including forestry, farming, mining, and manufacturing.

While the concept may be simple, its execution is anything but. The raw materialindustrial industry is responsible for providing the world with food, shelter, clothing, and much more. It employs millions of people across the globe and generates trillions of dollars in economic activity each year.

Despite its importance, the raw materialindustrial industry faces many challenges. For example, it must constantly grapple with issues like environmental sustainability, resource depletion, and climate change.

Robber baron (industrialist)

A robber baron (industrialist) was a business magnate of the Gilded Age, a period in American history in the late 19th century and early 20th century when massive industrialization and wealth inequality occurred.

The concept of the robber baron originates from Europe in the Middle Ages, when lawless nobles who robbed merchants and travelers on the roads were called “robber barons.” The term was then applied to American businessmen in the late 19th century who became wealthy by exploiting their workers, often through unethical means.

Some notable examples of robber barons include Andrew Carnegie, John D. Rockefeller, Jay Gould, and Cornelius Vanderbilt.

Science park

A Science Park, also called a Technology Park, is an area where technology companies and research organizations can set up business. The Science Park Concept was created in the 1950s by the Austrian scientist Viktor Kaplan.

A Science Park can be an excellent place to do business because it offers companies access to technology transfer offices, R&D facilities, laboratories and clean rooms, as well as co-working spaces and meeting rooms. In addition, many Science Parks have incubation programmes that offer new businesses free or discounted office space, support services, and mentorship.

Science Parks are very popular in Europe; in fact, there are more than 2,000 of them across the continent.

Seven Wonders of the Industrial World

The Seven Wonders of the Industrial World concept was introduced by engineer and writer Georges Meyer in 1851. It was inspired by the ancient Seven Wonders of the World list, and intended to showcase the most impressive feats of engineering and technology from around the globe.

Some of the most notable entries on Meyer’s list included the Brooklyn Bridge in New York City, the Great Eastern steamship, and the Panama Canal. The concept proved to be popular, and soon other lists began popping up featuring different wonders.

Today, there are countless variations on the original Seven Wonders of the Industrial World concept. However, all continue to highlight mankind’s remarkable ability to create amazing things – even in an industrial setting.

Standard Industrial Classification


The Standard Industrial Classification (SIC) system is the most common framework for classifying businesses and industries in the United States. It was developed in the late 1940s by the Census Bureau and is still used today.

Under the SIC system, businesses are classified into one of 22 broad categories based on their primary activity. For example, manufacturing businesses are classified as either “primary metal” or “textile mill” businesses, and retail businesses are classified as either “trade shops” or “food stores”.

The SIC system is important for statistical purposes because it allows different types of businesses to be compared and analyzed together.

Trade association

The trade association industrial concept is an important one for businesses to understand. This is because it can help them to find new markets for their products and services, as well as providing information about the latest industry trends.

There are many benefits to being a member of a trade association, but some of the most important ones include access to market research, networking opportunities, and discounts on products and services. Trade associations also provide educational resources and support businesses in lobbying efforts.

According to the U.S. Chamber of Commerce, there are more than 3,000 trade associations in the United States that represent over 7 million businesses. This shows just how vital they are to the success of businesses across a wide range of industries.


As you can see, the industrial revolution has brought about many changes to the way we live and work. It’s hard to imagine a world without cars, factories, or machines, but at one time, that’s exactly what life was like. The next time you watch a movie set in the 1800s or early 1900s, take a moment to think about how different everything would look if it were filmed today. Although some of these concepts are no longer used in industry, they provide an interesting glimpse into our past. Do you know of any other industrial concepts that we missed? Let us know in the comments!