North American Industry Classification System Essay

Company Introduction The Neuroleadership Institute (NLI) provides unique brain-based, process-focused, and outcome-driven methodologies and frameworks that help individuals and organizations facilitate positive change and lead more effectively. Organized through three key branches, NLI provides a customized approach to applied neuroscience. The research help organizations transform their effectiveness, with a focus in three practice areas: Performance, Diversity Inclusion, and Learning. (www.neuroleadership.com, n.d.) North American Industry Classification System (NAICS) The industry in which NLI competes is defined as management consulting (NAICS 54161). The role of a management consultant is to provide advisory services to businesses, non-profits and public sector agencies to assist in organizational design, corporate strategy, information technology strategy, marketing and sales and logistics. The primary activities of the industry are administrative and general management consulting services, marketing consulting services, process and logistics consulting services, as well as actuarial, employee benefits and compensation consulting services. The major products and services of the industry are organizational design, corporate strategy, process and operations management, financial advisory, and strategy for human resources, IT and marketing and sales. (Blau, 2016) DOMINANT ECONOMIC TRAITS Market Size According to IBISWorld data, at the end of 2016 the size of theShow MoreRelatedThe North American Industry Classification System Essay1614 Words   |  7 PagesThe North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy. (North American Industry Classification System, n.d.). NAICS is a 2 through 6 digit hierarchical classification system, offering five levels of detail. Each digit in the code is part of a series of progressively narrower categories, and theRead MoreEssay On The North American Industry Classification System733 Words   |  3 Pages North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. b usiness economy. NAICS was developed under the auspices of the Office of Management and Budget (OMB), and adopted in 1997 to replace the Standard Industrial Classification (SIC) system. It was developed jointly by the U.S. Economic Classification Policy CommitteeRead MoreThe Industrial Classification to Organize Industries Essay1069 Words   |  5 PagesThe 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 industrialRead More ratio analysis Essay950 Words   |  4 Pagessales. The basic source for these ratios is the companys financial statements that contain figur es on assets, liabilities, profits, and losses. Ratios are only meaningful when compared with other information. Since they are often compared with industry data, ratios help managers understand their companys performance relative to that of competitors and are often used to trace performance over time.Ratio analysis can reveal much about a company and its operations. However, there are several pointsRead MoreRatio Analysis Essay996 Words   |  4 Pagesannual sales. The basic source for these ratios is the companys financial statements that contain figures on assets, liabilities, profits, and losses. Ratios are only meaningful when compared with other information. Since they are often compared with industry data, ratios help managers understand their companys performance relative to that of competitors and are often used to trace performance over time.Ratio analysis can reveal much about a company and its operations. However, there are several pointsRead MoreFood And Non Alcoholic Beverages Industry Essay806 Words   |  4 PagesIndustry Background SIC and NAICS An industry as complex as the Food and Non-Alcoholic beverages industry must be coded by organizing smaller sub-categories when referencing the Standard Industrial Classification (SIC) system and the North American Industry Classification System (NAICS). These systems categorize industries using codes to aid in analytical research for Federal statistical agencies. (United States Census Bureau, 2012). A quick search using key words or the actual code will allow theRead MoreMotorcycle Industry Analysis1271 Words   |  6 PagesThe Motorcycle Industry Definition Motorcycles fall into the category called Recreational Vehicle, Motorcycle and Boat Retail Industry. These are companies that retail recreational vehicles, boats, motorcycles, jet skis, and/or related accessories. In Hoover’s classification, based on the North American Industry Classifications System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system, motorcycles fall under a smaller subcategory called Motorcycle, ATV, and PersonalRead MoreEssay Coca Cola External Analysis1380 Words   |  6 PagesExecutive Summary The North American Industry Classification System (NAICS) code for the Coca-Cola Company is 3121 (U.S. Census Bureau, 2012). This NAICS code is used to identify Soft Drink Manufacturing. However, the icon Coca-Cola is not in this industry alone. The data of 2002 identifies 2,908 competitors in this category (U.S. Census Bureau, 2002). This NAICS code encompasses establishments primarily engaged in manufacturing soft drinks and artificially carbonated waters. AlthoughRead MoreBed Breakfast Feasibility Study1545 Words   |  7 PagesBed Breakfast Feasibility Study Business Industry: The business industry I have chosen according to the 2012 NAICS Definition falls under; Accommodation and Food Services- Sector 72 †¢ The Accommodation and Food Services sector comprises establishments providing customers with lodging and/or preparing meals, snacks, and beverages for immediate consumption. The sector includes both accommodation and food services establishments because the two activities are often combined at the same establishmentRead MoreThe Lady Boss: Women in Entrepreneurship and Procurement702 Words   |  3 Pagesare continuing to help in employing people. Women are also becoming active in the entrepreneurship world and they contribute their different style compared to men entrepreneurs. Some women entrepreneurs are confident to thrive in a male-dominated industry while other women entrepreneurs cater to other women and their concerns, needs and wants. In both aspects, women play the game and they have the chance to be successful. Women are slowly taking the path of entrepreneurship and most often make the