The term Industrial Classification refers to the system by which companies and industries are organized or classified by in the United States. It uses a label system called the Standard Industrial Classification (SIC) that is composed of four digits. This system started in 1937 with a four digit code in which has been modified to a six digit code and renamed to the North America Industry Classification System (NAICS). This system is used by governmental agencies to classify the different industrial areas, for example: Agriculture, Forestry, Fishing, Mining, Transportation, Construction, etc. The classification of industries was created by the United States government to be able to analyze measure and share this data with other agencies. (Pearce, 1957)
Before Industry classification was established different branches of the United States government had their own method to analyze a business in which other agencies did not use. It was difficult to share any kind of data with other agencies as they had their own methods. The need increased in the 1930’s to develop a standard method in which all agreed to be able to use.
The United States created the Standard Industrial Classification (SIC) numeric code system in which uses a top down format that starts with the general characteristics up to the specific. The first two digits are specific to the type of industry such as Agricultural, Fishing, and Mining. The next digits refer to the sub classification of such business group. For example, if we are classifying a company that is in the Dairy business, they would be given a code that the first two digits indicate that they are specifically in the business of Dairy. Then the third digit would specify that they are either in t...
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...ISIC), 2013) .
In conclusion the development of the Standard Industrial Classification created a method to record data in which categorized each business to an industry and then the industry is measureable to the economy. Government agencies are able to use this data to measure the industries being developed as well to ensure all meet their standard policies and goals. It is also used to determine the economy of the cities, states and nation as any change or trend will change the supply and demand hence; changing the economy. The government agencies uses this data for strategic planning in their respective branches as well as business uses this data for their strategic planning in the business purposes. The result of this system has created a manageable system that assists in making what we have today as a well organized industrial and economic system worldwide.
The primary basis for this categorization varies depending on the phase of the project. In addition to the changes in the timing of the internal-use software capitalization, the new standard requires the entity to disclose a general description of the software acquired or developed, the various significant judgements and assumptions applicable, both a qualitative and quantitative description of the costs that were and expensed or capitalized during the period, and a description of the period over which the implementation costs are an expense in the income statement (ASC
Although there are many technologies in tracking, for this research I will be discussing Radio Frequency Identification (RFID) and Universal Product Code. There are major differences and comparisons between these two technologies which define both. Though both of these technologies are widely used within numerous industries, they are used differently since they are so different. For example, the government (United States Postal System), military, private companies (such as Wal-Mart, Target and other companies), the healthcare system, and other industries all use these types of tracking technologies. Though some industries specifically use just one technology or though many use both. In my research, I will define both technologies, discuss the history, how they are used and what the future is of both products.
Social class is measured in several ways. Registrar General’s Classification groups different occupations into social classes according to their skill level. One of its weaknesses is that occupation is not always a good reflection of levels of income or poverty [3]. This flaw has prompted an attempt to construct a more satisfactory classification, the National Statistics Socio-economic Classification (NS-SEC) [4]. Both classifications are outlined in Table 1.
...n conjunction with other types of classification systems in a library environment. The LCC schedules contain a higher level of specificity and detail than those in DDC. This is as a result of subject matter expects constructing areas of the schedule. The primary users of LCC may be subject matter experts or those who want to consult a classification system with a high level of specificity.
SICE: Trade Agreements: North American Free Trade Agreement. (n.d.). SICE the OAS Foreign Trade Information System. Retrieved July 14, 2010, from http://www.sice.oas.org/trade/nafta/naftatce.asp
In conclusion, according to Beddow, Hymes and McAuslan (2011, p. 12), classification both provides an easy life and give a hand to stay alive however, nowadays momentarily classification is not a necessity, but it is in progress without noticing by human beings. Considering Beddow, Hymes and McAuslan (2011, p. 12) people classify things depending upon a couple of elements when the subject is human beings. According to Beddow, Hymes and McAuslan (2011, p. 12), although
Chandler traced the history of various firms and delineated four phases in the history of the large U.S. enterprise:
It has showed a huge growth over the past decades after in 1961 Kuwait gained independence from Britain. Thus this industry has been a reason for the growth of the economy as well as increased its GDP by 21%. The industrial sector in Kuwait is facing a number of opportunities that would boost its performance and the economy like the Kuwait development plan that holds many chances for local companies in that sector to grow on right basis.
... policy are made as the fragment of association strategy, in demand to assess the innovation-related concerns by coupling them with the companies (Thesource 2014; Mindtools.com 2014). The modernization issues from the argument of organizational perceptions have been illuminated recently. For example, one of the best methods to create reasonable advantages is to erect a company, which is based on constant learning and improvement. Many aspects of a company, which incorporates even the industrialized events, are also manipulated by structural learning (Mindtools.com 2014).
Currently, businesses want to use the information effectively for competitive advantage to make better decisions that improve and optimize business processes, predict the market dynamics accurately, optimize forecasts to adequately maintain resources to name a few reasons.
Satija, M. P. ., satija_mp@yahoo.com. (2013). Briefs on the 19th (1979) to the 23rd Edition (2011) of Dewey Decimal Classification. DESIDOC Journal of Library & Information Technology, 33(4), 277–288.
After WWII, the industrial revolution began to decline and economic focus was being shifted from manufacturing to service. Deindustrializatio...
Schmitter, Philippe C. and Wolfgang Streeck: The Organization of Business Interests. A Research Design to Study the Associative Action of Business in Advanced Industrial Societies of Western Europe, Berlin (Wissenschaftszentrum, Arbeitspapier IIMV dp 81-13) 1981.
...nagement applies to all sectors including manufacturing, management of government and private sector companies. In addition to that Taylor introduced following systems to the industry.
The report emphasizing on technology by which the industrial applications are held economically! This is which extremely important for the business point of view also for efficient work of the industrial equipment. In short save energy save money for nature for future.