The North American Industry Classification System or NAICS (pronounced "nakes") is used by business and government to classify business establishments according to type of economic activity (process of production) in Canada, Mexico and the United States. It has largely replaced the older Standard Industrial Classification (SIC) system; however, certain government departments and agencies, such as the U.S. Securities and Exchange Commission (SEC), still use the SIC codes.
An establishment is typically a single physical location, though administratively distinct operations at a single location may be treated as distinct establishments. Each establishment is classified to an industry according to the primary business activity taking place there. NAICS does not offer guidance on the classification of enterprises (companies) which are composed of multiple establishments.
Read more about North American Industry Classification System: Codes, History, NAICS 2007 Sectors, Bibliography
Famous quotes containing the words north american, north, american, industry and/or system:
“The Anglo-Saxon hive have extirpated Paganism from the greater part of the North American continent; but with it they have likewise extirpated the greater portion of the Red race. Civilization is gradually sweeping from the earth the lingering vestiges of Paganism, and at the same time the shrinking forms of its unhappy worshippers.”
—Herman Melville (1819–1891)
“In England if something goes wrong—say, if one finds a skunk in the garden—he writes to the family solicitor, who proceeds to take the proper measures; whereas in America, you telephone the fire department. Each satisfies a characteristic need; in the English, love of order and legalistic procedure; and here in America, what you like is something vivid, and red, and swift.”
—Alfred North Whitehead (1861–1947)
“After all, the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing and prospering in the world.”
—Calvin Coolidge (1872–1933)
“That some should be rich, shows that others may become rich, and hence is just encouragement to industry and enterprise.”
—Abraham Lincoln (1809–1865)
“Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and a great national debt.”
—William Cobbett (1762–1835)