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, industry and/or system:
“I knew that the wall was the main thing in Quebec, and had cost a great deal of money.... In fact, these are the only remarkable walls we have in North America, though we have a good deal of Virginia fence, it is true.”
—Henry David Thoreau (1817–1862)
“The American who first discovered Columbus made a bad discovery.”
—G.C. (Georg Christoph)
“You must, to get through life well, practice industry with economy, never create a debt for anything that is not absolutely necessary, and if you make a promise to pay money at a day certain, be sure to comply with it. If you do not, you lay yourself liable to have your feelings injured and your reputation destroyed with the just imputation of violating your word.”
—Andrew Jackson (1767–1845)
“A heresy can spring only from a system that is in full vigor.”
—Eric Hoffer (1902–1983)