Standard Industrial Classification


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Related to Standard Industrial Classification: North American Industry Classification System

Standard Industrial Classification (SIC)

A code system that designates a unique business activity classified by industry.

Standard Industrial Classification

A system of four digit codes used in business to classify the industry to which a company belongs. The SIC was created by the U.S. government in 1937 to facilitate communication within and between businesses and industries. For the most part, the SIC was replaced by the six digit NAICS in 1997, but the SEC still uses the SIC. For example, an oil and gas exploration company might file with the SEC under the code 1382.

Standard Industrial Classification (SIC)

a system which codifies and measures groups of economic activity at various levels of aggregation and disaggregation. In the UK, the Standard Industrial Classification comprises 10 major divisions, 60 classes, 222 groups and 334 activities. Activities, or their equivalent ‘industries’ (see INDUSTRY), are derived on the basis of their supply characteristics, in particular the use of common raw materials and processes of manufacture. Such a classification provides a useful source of information on industry structure and statistical details of employment, output and investment by the industrial sector. However, for purposes of MARKETING strategy, SIC data usually needs to be reinterpreted in order to provide more meaningful specifications of MARKETS, defined in terms of groups of products which are regarded by buyers as close substitute products. To illustrate, glass jars and metal cans are assigned to different industries by the SIC (Division 2, Activity ‘glass containers’, Division 3 ‘packaging products of metal’, respectively), but would be regarded by a user of packaging materials such as a coffee manufacturer as substitute products. See STRUCTURE OF INDUSTRY.

standard industrial classification

see INDUSTRIAL CLASSIFICATION.
References in periodicals archive ?
The Standard Industrial Classification (SIC) Manual, prepared by the Executive Office of the President, Office of Management and Budget, provides the standardized codes used by the U.
3) For a detailed presentation of the 1987 SIC revisions, see Standard Industrial Classification Manual, 1987, Executive Office of the President, Office of Management and Budget (Washington, DC: U.
Simple menu-based selections allow searches to be conducted rapidly for a quick look-up or more complex searches with many criteria, including Standard Industrial Classification (SIC) codes, company location, employee and revenue ranges, public versus private ownership, S&P 500, MidCap 400, and Business Week 1,000 indicators, and many more.
The structure was modified to conform to the 1987 Standard Industrial Classification (SIC).
By contrast, subparagraph (3) of the regulation narrowly defines a Product Class as the five-digit Standard Industrial Classification (SIC) code published by the Bureau of the Census.
A foundry is included in these reporting requirements if it is included in the Standard Industrial Classification Codes 20 through 39.
These additions have increased the utility of DIALOG OnDisc Corporate America, which now has 20 searchable fields including the Company Name, Geographic Location, Primary and Secondary eight-digit Standard Industrial Classification (SIC) code(s), Annual Sales, Number of Employees, City Population, and the Newest Added Companies--to name just a few.
An employer's reference to the Enterprise Standard Industrial Classification (ESIC) Manual prepared by the Statistical Policy Division of the U.
The Census value-added-weighted production indexes are used at the four-digit Standard Industrial Classification (SIC) level, yielding measures of change in industry output from 1977 to 1982.
If you are not yet into using Standard Industrial Classification (SIC) Codes to classify your customers and identify prospects, you should be.

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