North American Industry Classification System

Examples of North American Industry Classification System in the following topics:

• Categories of Business Products

  • B2B transactions involve many classifications of business products, including the following:
  • Examples include food preservatives and industrial glue.
  • The authoritative list of business types for North America is generally considered to be the North American Industry Classification System (NAICS; pronounced "nakes").
  • The equivalent European Union list is the Statistical Classification of Economic Activities in the European Community (NACE).

• Identifying Potential Business Customers

  • Industry classifications can assist in determining market segmentation.
  • The North American Industry Classification System (NAICS) is used by business and government to classify business establishments according to its primary type of economic activity (process of production) in Canada, Mexico, and the United States.
  • Thus, if a company identifies a potential customer but is uncertain what industry that customer belongs to, using the industrial classification from the NAICS can provide more detailed information on the specific business activities of that potential customer.

• The industry environment

  • In a more formal sense, the North American Industry Classification System (NAICS, http://www.census.gov/epcd/www/naics.html) defines hundreds of different industries.
  • The NAICS is a commonly used system to group businesses.
  • Similar classification systems include the International Standard Industrial Classification (ISIC, http://unstats.un.org/unsd/cr/registry/regcst.asp?
  • Cl=17) from the United Nations and the General Industrial Classification of Economic Activities with the European Communities (NACE, http://www.ltck.se/PrjY1/nacekod/nacecode.htm).
  • Locating the industry for a business through the NAICS or similar classification scheme can be a useful exercise in gathering competitive intelligence.

• Economic Nationalism

  • The American System advocated industrial, physical, and financial infrastructure, as well as support for public education.
  • As later defined by Senator Henry Clay, who became known as the "Father of the American System," the American System unified the nation north to south, east to west, and city to farmer.
  • The American System was comprised of the three following cardinal policy points:
  • The South, however, opposed the American System.
  • Henry Clay is considered the Father of the American System of economics.

• Types of Businesses

  • American economist Milton Friedman once famously proclaimed that "the business of business is business. " Capitalist economies such as the United States rely on businesses to legally produce capital from the trading of goods and services.
  • There are many types of business entities defined in the legal systems of various countries.
  • Businesses also vary by industry due to the wide variety of products and service they offer to the market.
  • The following industry classifications are usually applied to businesses:
  • List the most common ownership types and industry classifications for organizations

• Introduction to the U.S. Economy: A Brief History

  • The New World then progressed from a marginally successful colonial economy to a small, independent farming economy and, eventually, to a highly complex industrial economy.
  • North America's first inhabitants were Native Americans -- indigenous peoples who are believed to have traveled to America about 20,000 years earlier across a land bridge from Asia, where the Bering Strait is today.
  • What economic systems they did develop were destroyed by the Europeans who settled their lands.
  • But the North American wilderness offered early explorers little glory and less gold, so most did not stay.
  • The people who eventually did settle North America arrived later.

• "Americanizing" the Vietnam War

  • The period after 1964 is thus referred to as the Americanization of the war, with the United States taking on the primary responsibilities of fighting the North Vietnamese.
  • Westmoreland expanded American troop strength in South Vietnam.
  • When that did not work, its goals were altered to target the nation's industrial base, transportation network, and its (continually increasing) air defenses.
  • The American generals decisions in this period would influence American strategy and tactics for the duration of the war.
  • If that country could not be invaded, then the enemy's logistical system in Laos and Cambodia should be cut by ground forces, isolating the southern battlefield.

• American Indians and the War Effort

  • The resulting increase in contact with the world outside of the reservation system brought profound changes to American Indian culture.
  • The most significant of these changes was the opportunity—as a result of wartime labor shortages—to find well-paying work in cities, and many people relocated to urban areas, particularly on the West Coast with the buildup of the defense industry.
  • American Indians first saw action in the Pacific Theater along with the rest of the American army and navy.
  • American Indians were also among the first Americans to enter Germany and played a role in the Liberation of Berlin.
  • Casualty reports showed American Indians fighting as far away as Australia, North Africa, and Bataan.

• Conclusion: Patterns of British Settlement in the Colonies

  • Meanwhile, the population rose dramatically in Britain’s North American colonies.
  • During this period, the ties between Great Britain and the American colonies only grew stronger.
  • After the English Civil War, England began to fashion a stronger and larger empire in North America.
  • Slavery was more than a labor system; it also influenced every aspect of colonial thought and culture.
  • This portrait of the family exemplifies the colonial American gentry of the 18th century.

• Early American Slavery

  • Slave labor was an integral part of the economy of the North American colonies.
  • Slavery was more than a labor system; it also influenced every aspect of colonial thought and culture.
  • The majority of these African Americans were slaves.
  • This led to a race-based slavery system in the New World unlike any bondage system that had come before.
  • Slavery was not as much a part of the economic culture of the North, which tended to focus on the building of industry.