Final answer:
Businesses primary focus during the industrial revolution through the early 20th century was on mechanization and industrialization, leading to substantial growth and the creation of monopolies. They capitalized on advancements in manufacturing technology, significantly altering the nature of work and increasing the wealth gap between industrialized and non-industrialized nations.
Step-by-step explanation:
From the beginning of the industrial revolution until the early 20th century, businesses focused their efforts primarily on mechanization and industrialization, motivated by the capitalist drive for profits. This era saw a shift in the production of goods from manual labor to mechanized factories, as evidenced by the rise of machines like the Spinning Jenny and the Spinning Mule which made textile manufacturing much more efficient. Businesses leveraged this new industrial power to grow enormously, often creating monopolies over entire industries by controlling all aspects of the production cycle and using their wealth to eliminate competition.
The profound changes introduced by industrialization also meant a shift in the nature of work and worker exploitation. The transition to factory work created a labor environment characterized by long hours and precarious conditions, with workers having little control over their work and earning meager wages relative to the profits reaped by business owners and the middle class. In contrast, consumers benefited from access to new goods which were more affordable due to the reduced production costs enabled by industrial advancements.
Social and cultural landscapes were deeply transformed during the Second Industrial Revolution, with the redefinition of workplaces, living conditions, and even family structures. The benefits of industrial growth were not distributed equally, though, and the divide between industrialized and non-industrialized countries widened significantly as a result.