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Specialization and division of labor were Smith's major contributions to management thought. ... Firstly, specialization drastically reduced the cost of goods. Secondly, it drastically reduced the need for training. Instead of learning every aspect of a task, workers needed to learn one portion of it.
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Division of labors into specialized tasks during the Industrial Revolution is one of the major lessons in management lessons.

What happened during the Industrial Revolution?

Industrial Revolution was important for study of management, as it made important contributions like cost reduction, specialization of tasks and optimum utilization of resources.

The division of labor into specific task enabled the reduction in costs of production massively. Moreover, labors became specialized in the tasks being assigned to them.

Hence, the division of labor during the Industrial Revolution is an important take from the study of management.

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