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:
“The North has no interest in the particular Negro, but talks of justice for the whole. The South has not interest, and pretends none, in the mass of Negroes but is very much concerned about the individual.”
—Zora Neale Hurston (1891–1960)
“The ideal of the self-sufficient American family is a myth, dangerous because most families, especially affluent families, do in fact make use of a range of services to survive. Families needing one or another kind of help are not morally deficient; most families do need assistance at one time or another.”
—Joseph Featherstone (20th century)
“Do not put off your work until tomorrow and the day after. For the sluggish worker does not fill his barn, nor the one who puts off his work; industry aids work, but the man who puts off work always wrestles with disaster.”
—Hesiod (c. 8th century B.C.)
“Delight at having understood a very abstract and obscure system leads most people to believe in the truth of what it demonstrates.”
—G.C. (Georg Christoph)