industry

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Industry

The category describing a company's primary business activity. This category is usually determined by the largest portion of revenue.

Industry.

An industry is a subdivision of a market sector and includes companies producing the same or similar goods and services. These companies often compete with each other for customers and investors.

For example, within the consumer staples sector, companies that manufacture household appliances, such as dishwashers and refrigerators, are part of the same industry.

The fundamentals of any single company in an industry can be measured against the industry as a whole, revealing where the company stands in relation to its peers.

industry

a branch of commercial enterprise concerned with the output of related goods or services. For example, the beer/brewing industry might be defined as all those firms that produce bitter and mild ales, lagers, stouts and elders. However, beer production might be seen also as constituting part of a wider and bigger industry, the ‘alcoholic beverages industry'which includes the production of spirits and wines as well as beer. Thus, there are specification problems with respect to how widely or narrowly a particular industry is defined. Moreover, STANDARD INDUSTRIAL CLASSIFICATIONS typically group together products on the basis of their supply characteristics, such as the use of common raw materials and manufacturing processes. This may or may not coincide with how goods and services are grouped together to define MARKETS, which requires account to be taken also of how products are seen from the point of view of buyers (that is, their demand characteristics). Thus although men's and women's' shoes are produced using the same materials and manufacturing processes, and often by the same firms, they are not considered by buyers as close substitutes, and hence, from a MARKETING point of view, they must be treated as constituting separate markets. See STRUCTURE OF INDUSTRY.

industry

a group of related economic activities classified according to the type of good or service supplied. For example, the beer/brewing industry might be defined as all those firms that produce bitter and mild ales, lagers, stouts and ciders. However, beer production might be seen also as constituting part of a wider and bigger industry, the ‘alcoholic beverages industry’, which includes the production of spirits and wines as well as beer. Thus, there are specification problems with respect to how widely or narrowly a particular industry is defined. Moreover, INDUSTRIAL CLASSIFICATIONS typically group together products on the basis of their supply characteristics such as the use of common raw materials and manufacturing processes. This may or may not coincide with how goods and services are grouped together to define MARKETS, which requires account to be taken also of how products are seen from the point of view of buyers (that is, their demand characteristics). Thus, although men's and women's shoes are produced using the same materials and manufacturing processes, and often by the same firms, they are not considered by buyers as close substitutes, and hence, from a buyer's point of view, they must be treated as constituting separate markets.

Looked at dynamically, a typical industry will grow, reach maturity (see Fig. 158 (b) -PRODUCT LIFE CYCLE entry) and, in many cases, then decline (for example, the textile, coal and shipbuilding industries in the UK). See STRUCTURE OF INDUSTRY, CROSS-ELASTICITY OF DEMAND, MARKET STRUCTURE.

References in periodicals archive ?
According to the study, the share of global emissions of the industrialised the Kyoto Protocol member nations, has now declined to less than half of the total.
If you see figures that industrialised countries have submitted in response to the Copenhagen Accord, these are truly pathetic," he said.
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These are currently 885 stock corporations from 23 industrialised nations.
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He blamed Western industrialised nations for hunger, desertification and floods across the globe, and called for "drastic solutions" to global warming.
For example, the European Union has agreed to a climate and energy package with which it will be able to reach its target of a 20 per cent emission reduction over 1990 levels by 2020 (30 per cent if other industrialised countries follow suit.
The basic global trade pattern in recovered paper continues to be rather simple: the industrialised regions of North America, Western Europe, Japan and, to a lesser extent, Oceania, all have export surpluses of recovered paper and supply the emerging and developing countries.
FOREIGN Secretary Jack Straw was joining other foreign ministers from the leading industrialised nations and the Arab world today, gathering to discuss Iraq.
A June report by the independent research centre, The Australia Institute, claims that, on a comprehensive basis, Australians actually have the highest greenhouse gas (GHG) emissions per person of all industrialised nations, 27% higher in fact than those of US citizens, and more than double the average for industrialised countries.
All countries have to act, but the industrialised world has to take the lead.