Define industry

automotive industry, all those companies and activities involved in the manufacture of motor vehicles, including most components, such as engines and bodies, but The history of the automobile industry, though brief compared with that of many other industries, has exceptional interest because of its effects on history from the 20th century. Although the automobile originated in History Although Developments before World War I Most early automobile companies were small shops, hundreds of which each produced a few handmade cars, and nearly all of which abandoned the business soon after going into it. The handful that survived into the era of large-scale production had certain Get a Britannica Premium subscription and gain access to exclusive content. In the United States almost all of the producers were assemblers who put together components and parts that were manufactured by separate firms. The assembly technique also lent itself to an advantageous method of financing. It was possible to begin building motor vehicles with a minimal investment of capital by buying parts on credit and selling the finished cars for cash; the cash sale from manufacturer to dealer has been The pioneer automobile manufacturer not only had to solve the technical and financial problems of getting into production but also had to make a basic decision about what to produce. After the first success of the gasoline engine, there was widespread experimentation with steam and electricity. For a brief per...

Though the term industry has existed for a long time, there is a common misunderstanding about what it really refers to. An industry is a group of firms producing, extracting and processing similar products and services. For example, companies like Toyota, Honda and GM, are grouped together as the automobile industry. Why? Because their products have similar usage, similar raw materials and more or less similar market segments. Also, there is a prevailing belief that industries and sectors are the same. However, a sector is a large segment of an economy formed by an industry group. For instance, the airline and the automobile industry collectively form the transportation sector. Why Are Industries Important to Know? Knowing this helps with strategic analysis, investment decisions, and understanding government policies. Strategic Industry Analysis Strategic analysis helps firms to form better business decisions in identifying opportunities, recognizing threats and analyzing the firm’s position relative to its competitors. Investment & Portfolio Management Companies within an industry are correlated. So, a factor that influences a line of business is more likely to influence every company within that industry. Hence to minimize the risk of such changes, investors Understanding Government Policies Government applies tariffs, subsidies and quotas to a similar group of companies. By knowing industries, governments and companies can assess the impact of such policies on a macroe...

/ˈɪndəstri/ Other forms: industries An industry is a group of manufacturers or businesses that produce a particular kind of goods or services. Workers in the textile industry design, fabricate, and sell cloth. The tourist industry includes all the commercial aspects of tourism. You can use industry to refer to a group of similar businesses: The automobile industry makes cars and car parts. The food service industry prepares food and delivers it to hotels, schools, and other big facilities. Industry comes from the Latin industria, which means "diligence, hard work," and the word is still used with that meaning. If you build a house in three weeks, when the same job takes everyone else three months, you're showing impressive industry.

• additive manufacturing • biomanufacturing • carding • cleantech • compression molding • inter-industry • just-in-time • light industry • machine carding • manufacture • prebuilt • prefabricated • prefabrication • quality assurance • quality control • synthetic • synthetically • vitrification • vulcanization • vulcanized