LECTURE 01 Evolution of Business

The evolution of business reflects the transformation from simple trade practices to complex, technology-driven enterprises. Starting with the Industrial Revolution, which introduced mass production, businesses expanded during the Entrepreneur and Market Eras, focusing on innovation and consumer needs. The Global Era brought international reach, while today’s Social Era emphasizes digital engagement, corporate responsibility, and community impact. Each stage has shaped modern business practices to adapt to societal, economic, and technological changes.