Mahaffey Business Library
L001 Mendoza College of Business
University of Notre Dame
Notre Dame, IN 46556
(574) 631-9098
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In business, industry generally serves as the broadest category of analysis when researching a business environment. Companies which are similar, based on the sources of their revenue, are grouped into a common category for purpose of organizing data and insights. There is no governing body which assigns industry designations to companies, and companies can fall under multiple industries at the same time. Industry information can be helpful in researching the following topic areas:
Competitive landscape
Policies and regulations
Operating conditions
Market shares
Risk and barriers to entry
Major trends and industry volatility
North American Industry Classification System (NAICS) - Modern numeric classification system for industries and industry sectors commonly used to categorize industry information across multiple databases
Standard Industrial Classification (SIC) - Historic numeric classification system for industries and industry sectors that has largely been abandoned in favor of NAICS. Some older databases which rely on SEC filings still use SIC codes as their organizational scheme