|
Industry (economics)
In microeconomics, an industry is a branch of an economy that Production (economics) , produces a closely related set of raw materials, Good (economics) , goods, or Service (economics) , services. For example, one might refer to the wood industry or to the insurance industry. When evaluating a single group or company, its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. For example the International Standard Industrial Classification (ISIC) – used directly or through derived classifications for the official statistics of most countries worldwide – classifies "statistical units" by the "economic activity in which they mainly engage". Industry is then defined as "set of statistical units that are classified into the same ISIC category". However, a single business need not belong just to one industry, such as when a large business (often referred to as a conglomerate (company), conglomerate) Diversification (ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diversification (marketing Strategy)
Diversification is a corporate strategy to enter into or start new products or product lines, new services or new markets, involving substantially different skills, technology and knowledge. Diversification is one of the four main growth strategies defined by Igor Ansoff in the Ansoff Matrix: Ansoff pointed out that a diversification strategy stands apart from the other three strategies. Whereas, the first three strategies are usually pursued with the same technical, financial, and merchandising resources used for the original product line, the diversification usually requires a company to acquire new skills and knowledge in product development as well as new insights into market behavior simultaneously. This not only requires the acquisition of new skills and knowledge, but also requires the company to acquire new resources including new technologies and new facilities, which exposes the organisation to higher levels of risk. Note: The notion of diversification depends on th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By GDP Sector Composition
This is the list of countries by purely nominal gross domestic product (GDP) sector composition. By economic sector Nominal GDP sector composition (November 2024) Nominal GDP sector composition (billions of USD$) by percentage of sector: Real GDP sector composition GDP sector composition, 2017 (in percentage and in millions of dollars) using the Purchasing Power Parity methodology: Nominal GDP sector composition (2005 constant prices) Gross domestic product, Nominal GDP Economic sector, sector composition, 2015 (in millions of 2005 United States dollar, USD): 2005 prices are used similarly to 2010 constant prices in which they provide economic statistics where inflation is accounted for. GDP from natural resources :SourceWorld Development Indicators: Contribution of natural resources to gross domestic product(2011, source is unavailable) List by alphabetical order GDP (PPP) per person employed by sector GDP (PPP) per person employed by sector, 2015: Reference ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Outline Of Industry
The following outline is provided as an overview of and topical guide to industry: Industry, in economics and economic geography, refers to the production of an economic good or service within an economy. Essence of industry * Business * Cottage Industry * Heavy industry * Light industry * Manufacturing In some cases, industries can be harmful, such as those where harmful waste chemicals are dumped in bodies of water, or even those where pesticides and similar inadvertently leak into water sources. Industry sectors * Primary sector of the economy (the raw materials industry) * Secondary sector of the economy (manufacturing and construction) * Tertiary sector of the economy (the " service industry") * Quaternary sector of the economy (information services) * Quinary sector of the economy (humanitarian services) Major industries Agriculture * Fishing industry * Horticulture industry * Tobacco industry * Wood industry Manufacturing *Aerospace industry *Automoti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standardization
Standardization (American English) or standardisation (British English) is the process of implementing and developing technical standards based on the consensus of different parties that include firms, users, interest groups, standards organizations and governments. Standardization can help maximize compatibility, interoperability, safety, repeatability, efficiency, and quality. It can also facilitate a normalization of formerly custom processes. In social sciences, including economics, the idea of ''standardization'' is close to the solution for a coordination problem, a situation in which all parties can realize mutual gains, but only by making mutually consistent decisions. Divergent national standards impose costs on consumers and can be a form of non-tariff trade barrier. History Early examples Standard weights and measures were developed by the Indus Valley civilization.Iwata, Shigeo (2008), "Weights and Measures in the Indus Valley", ''Encyclopaedia of the History ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronics Industry
The electronics industry is the industry (economics), industry that produces electronic devices. It emerged in the 20th century and is today one of the largest global industries. Contemporary society uses a vast array of electronic devices that are built in factories operated by the industry, which are almost always partially automated. Electronic products are primarily assembled from metal–oxide–semiconductor (MOS) transistors and integrated circuits, the latter principally by photolithography and often on printed circuit boards. Circuit boards are assembled largely using surface-mount technology, which typically involves the automated placement of electronic parts on circuit boards using pick-and-place machines. Surface-mount technology and pick-and-place machines make it possible to assemble large numbers of circuit boards at high speed. The industry's size, the use of toxic materials, and the difficulty of recycling have led to a series of problems with electronic waste. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Semiconductor Industry
The semiconductor industry is the aggregate of companies engaged in the design and fabrication of semiconductors and semiconductor devices, such as transistors and integrated circuits. Its roots can be traced to the invention of the transistor by Shockley, Brattain, and Bardeen at Bell Labs in 1948. Bell Labs licensed the technology for $25,000, and soon many companies, including Motorola (1952), Schockley Semiconductor (1955), Sylvania, Centralab, Fairchild Semiconductor and Texas Instruments were making transistors. In 1958 Jack Kilby of Texas Instruments and Robert Noyce of Fairchild independently invented the Integrated Circuit, a method of producing multiple transistors on a single "chip" of Semiconductor material. This kicked off a number of rapid advances in fabrication technology leading to the exponential growth in semiconductor device production, known as Moore's law that has persisted over the past six or so decades. The industry's annual semiconductor sale ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Niche Market
A niche market is the subset of the market on which a product is appealed to a small group of consumers. The market niche defines the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that it is intended to target. It is also a small market segment. Sometimes, a product or service can be entirely designed to satisfy a niche market. Not every product can be defined by its market niche. The niche market is highly specialized, and aiming to survive among the competition from numerous super companies. Even established companies create products for different niches; Hewlett-Packard has all-in-one machines for printing, scanning and faxing targeted for the home office niche, while at the same time having separate machines with one of these functions for big businesses. In practice, product vendors and trade businesses are commonly referred to as ''mainstream providers'' or ''narrow demographics niche market pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooper (profession)
A cooper is a craftsman who produces wooden casks, barrels, vats, buckets, tubs, troughs, and other similar containers from timber staves that were usually heated or steamed to make them pliable. Journeymen coopers also traditionally made wooden implements, such as rakes and wooden-bladed shovels. In addition to wood, other materials, such as iron, were used in the manufacturing process. The trade is the origin of the surname Cooper. Etymology The word "cooper" is derived from Middle Dutch or Middle Low German ''kūper'' 'cooper' from ''kūpe'' 'cask', in turn from Latin ''cupa'' 'tun, barrel'. The word was adopted in England as an occupational surname, Cooper. The art and skill of ''coopering'' refers to the manufacture of wooden casks, or barrels. The facility in which casks are made is referred to as a cooperage. History Traditionally, a cooper is someone who makes wooden, staved vessels, held together with wooden or metal hoops and possessing flat ends or he ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Market
A consumer is a person or a group who intends to order, or use purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. The term most commonly refers to a person who purchases goods and services for personal use. Rights "Consumers, by definition, include us all", said President John F. Kennedy, offering his definition to the United States Congress on March 15, 1962. This speech became the basis for the creation of World Consumer Rights Day, now celebrated on March 15. In his speech, John Fitzgerald Kennedy outlined the integral responsibility to consumers from their respective governments to help exercise consumers' rights, including: *The right to safety: To be protected against the marketing of goods that are hazardous to health or life. *The right to be informed: To be protected against fraudulent, deceitful, or grossly misleading information, advertisi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product (business)
In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a domestic or an international market to satisfy the desire or need of a customer. In retailing, products are often referred to as merchandise, and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project. A related concept is that of a sub-product, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability. Product classification A product can be classified as tangible or intangible. A tangible product is an actual physical object that can be perceived by t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply chain from producers to consumers. Retail markets and shops have a long history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than "rude booths" to the sophisticated shopping malls of the modern era. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also affecting the way that consumers pay for goods and services. Retailing support services may also include the pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
