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 ?
"Barriers to Implementation of the Industrialised Building System (IBS) in Malaysia," 4: 22-35.
MEPs stressed that the industrial sectors of the economy should be developed and that Structural Funds should help former industrialised regions to become modern industrial regions.
He further explained that the problem of 'equity', where the developing nations needed more leeway in emitting carbon, as opposed to developed nations, which had already industrialised.
However, continued growth in developing countries and economic recovery by industrialised countries led to a record-breaking 5.8 per cent increase in global C[O.sub.2] emissions between 2009 and 2010.
For many industrialised countries, particularly the US, it will be very difficult to conclude an agreement unless their citizens see that major developing countries are also willing to engage further.
China and Asia Far East are the main destination for recovered paper surpluses from the industrialised countries.
The meeting will bring together foreign ministers from the G8 group of industrialised nations, the Arab League and Iraq's neighbours.
When measured on this partial basis Australia's per capita emissions are high, but are exceeded by other industrialised countries'.
If the pact is passed, industrialised countries will have to reduce greenhouse gas emissions by around five per cent between 2008-2012.
The survey puts the UK in 21st position in a table that takes into account 30 industrialised countries in the world.
Countries such as Australia and the United States argued that they should, while the developing nations pointed out that their industrialised neighbours are not yet meeting even their own modest targets, but continuing to increase emissions.
The "haves" in the work place generally are highly literate and respond readily to the same icons and points of reference found in the industrialised countries.