A cottage industry can be created with minimal startup costs by a single individual with a skill that's valued. Only basic infrastructure is necessary. The business operator needs a way to receive orders, get supplies delivered, and get the end products to the buyers. Mobile technology has gr...
Adjudication describes the legal process that helps expedite and deliver a court's resolution regarding an issue between two parties. The result of the process is a judgment and court opinion that's legally binding. Most adjudication hearings center on disputes that involve money or nonviolent infra...
Industry 5.0is already being spoken about and involves robots and smart machines allowing humans to work better and smarter. Esben Østergaard, Universal Robots chief technology officer and co-founder, explained, “Industry 5.0 will make the factory a place where creative people can come and work...
A declining industry is one that is in its final stage. The main elements of a declining industry are a diminished profitability...
Industry 4.0 is the term used to describe the fourth industrial revolution, a name given to the integration of physical and digital systems, which includes the internet of things (IoT) and artificial intelligence that are transforming a huge number of industries. Its goal is to create an efficie...
The term is also sometimes used to identify any customer that purchases industrial products, whether they are intended for use by a business, a non-profit organization, or by an individual. The industrial consumer may be associated with just about any type of industry. Customers in the ...
Industry 4.0 is the realization of digital transformation in the field, delivering real-time decision making, enhanced productivity, flexibility and agility.
A stakeholder is either an individual, group or organization that’s impacted by the outcome of a project or a business venture. Stakeholders have an interest in the success of the project and can be within or outside the organization that’s sponsoring the project. Stakeholders are important ...
A top-level domain (TLD) is the last part of a domain name, appearing after the final dot. It categorizes websites by purpose or region, such as ‘.com’ for commercial sites or ‘.org’ for organizations. Explanation of TLD, SLD, androot domain. ...
A cottage industry is manufacturing in the home, particularly prior to the industrial revolution. Cottage industries today still...