Industry

Business, Legal & Accounting Glossary

Definition: Industry


Industry

Quick Summary of Industry


A basic category of business activity. The term industry is sometimes used to describe a very precise business activity (e.g. semiconductors) or a more generic business activity (e.g. consumer durables). If a company participates in multiple business activities, it is usually considered to be in the industry in which most of its revenues are derived.




What is the dictionary definition of Industry?

Dictionary Definition


A basic category of business activity. The term industry is sometimes used to describe a very precise business activity (e.g. semiconductors) or a more generic business activity (e.g. consumer durables). If a company participates in multiple business activities, it is usually considered to be in the industry in which most of its revenues are derived.


Full Definition of Industry


Several manufacturing enterprises together constitute an industry. Industry is the backbone of several developed and developing economies of the world. Industry is a collection of productive firms. Industry can be of several types depending on the products that are manufactured.

Industry Size And Growth

Industry also undergoes different stages of development like a business. Major stages in the development of industry include set up stage, early-stage, growth, brisk growth, maturity, and advance or decline stage. The size or growth of an industry can be determined by monitoring the various stages of development. By comparing the size of an industry 5 years back, one can determine whether the industry is progressing or not. Status of the industry locally, regionally, or nationwide can also be determined with the size and growth of industry.

Industry Profitability

Profit margin is the best measure of growth in profitability of any industry. Some industries survive well in small profit margins whereas some have huge profit margins. The gross profit margins along with net profit percentages provide the account of profitability of any industry.

Trends And Changes In The Market

The World changes every second. Market irrespectives of being global or local also keeps changing. It becomes mandatory for industry to keep a track of the specific trends of the market in order to plan and forecast the future. The trends can be seasonal, economic variations, or consumer behavioral changes.

Government Policies

There is a time to time review of government policies that sometimes aid in the development of an industry but at the same time, can also create hurdles. Lenient excise duties and property rights aid in the growth of any industry.

Major Industry Types

Industry is the most productive sector for most economies. There are several types of industries that are operational all over the world. Major industries that have captured the global economy need to be recognized. Industries are mainly divided into three levels primary industry, secondary industry, and tertiary industry.


Examples of Industry in a sentence


The CEOs of the oil & gas industry gathered for a symposium on recent drilling issues in the Marcellus shale of Western Pennsylvania.

I really liked them as an industry and would continue to use them as long as they were in business.

There are many types of people that must come together in today’s society in order to turn the wheels of industry and provide the services we all rely upon every day.


Related Phrases


book-to-bill ratio
Money Market Investor Funding Facility
Securities Act of 1933
average margin per user (AMPU)
industrial policy
NFA
primary industry
Farm Credit Bank
protectionism
price/earnings ratio
oil services industry ETF
Financial Industry Regulatory Authority
food industry ETF
fragmented industry
tertiary industry
Futures Industry Association
Securities Industry Committee on Arbitration (SICA)
sunset industry
nationalised industry
auto industry ETF


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/industry/
Modern Language Association (MLA):
Industry. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
August 16, 2022 https://payrollheaven.com/define/industry/.
Chicago Manual of Style (CMS):
Industry. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/industry/ (accessed: August 16, 2022).
American Psychological Association (APA):
Industry. PayrollHeaven.com. Retrieved August 16, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/industry/

Definition Sources


Definitions for Industry are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 21st November, 2021 | 0 Views.