- For other uses of this term, see Industry (disambiguation)
An industry or sector (from Latin industrius, "diligent, industrious") is the manufacturing of a good or service within a category. Latin ( lingua Latīna, laˈtiːna is an Italic language, historically spoken in Latium and Ancient Rome. [1]
There are four key sectors of industry: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining and manufacturing; the tertiary sector, which deals with services (such as law and medicine) and distribution of manufactured goods; and the quaternary sector, a relatively new type of industry focusing on technological research, design and development such as computer programming and biochemistry. Mining is the extraction of valuable Minerals or other geological materials from the earth usually (but not always from an Ore body Agriculture refers to the production of goods through the growing of plants and fungi and the raising of domesticated Animals The study of agriculture A refinery is composed of a group of Chemical engineering unit processes and Unit operations used for Refining certain materials or converting Manufacturing (from Latin manu factura, "making by hand" is the use of tools and labor to make things for use or sale Law is a system of rules enforced through a set of Institutions used as an instrument to underpin civil obedience politics economics and society Medicine is the art and science of healing It encompasses a range of Health care practices evolved to maintain and restore Human Health by the The phrase research and development (also R and D or more often R&D) according to the Organization for Economic Co-operation and Development, refers
In economics and urban planning, industry is a synonym for the secondary sector, which is a type of economic activity involved in the manufacturing of raw materials into goods and products. Economics is the social science that studies the production distribution, and consumption of goods and services. Manufacturing (from Latin manu factura, "making by hand" is the use of tools and labor to make things for use or sale [1]
Industry in the second sense became a key sector of production in European and North American countries during the Industrial Revolution, which upset previous mercantile and feudal economies through many successive rapid advances in technology, such as the steel and coal production. The Industrial Revolution was a period in the late 18th and early 19th centuries when major changes in agriculture manufacturing and transportation had a profound effect on the Mercantilism is the idea that a colony should export more goods than it imports and that a colony should sell at higher prices and buy at lower prices Feudalism, a term first used in the early modern period (17th century in its most classic sense refers to a Medieval Europe Political system composed Steel is an Alloy consisting mostly of Iron, with a Carbon content between 0 It is aided by technological advances, and has continued to develop into new types and sectors to this day. Industrial countries then assumed a capitalist economic policy. Capitalism is the Economic system in which the Means of production are owned by private Persons and operated for Profit and where Railroads and steam-powered ships began speedily establishing links with previously unreachable world markets, enabling private companies to develop to then-unheard of size and wealth. A steamboat or steamship, sometimes called a steamer, is a ship in which the primary method of propulsion is steam power, typically driving a Propeller Generally a company is a form of Business organization. The precise definition varies Wealth derives from the old English word "weal" which means "well-being Following the Industrial Revolution, perhaps a third of the world's economic output is derived from manufacturing industries—more than agriculture's share. The Industrial Revolution was a period in the late 18th and early 19th centuries when major changes in agriculture manufacturing and transportation had a profound effect on the Agriculture refers to the production of goods through the growing of plants and fungi and the raising of domesticated Animals The study of agriculture
Many developed countries (for example the UK, the U. S. , and Canada) and many developing/semi-developed countries (People's Republic of China, India etc. ) depend significantly on industry. Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence.
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History
Proto-industry
Early industries involved manufacturing goods for trade, including weapons, clothing, pottery. Colin Grant Clark ( November 2, 1905 - September 4, 1989) was a British Economist and Statistician who worked Industry in the sense of Professional Manufacturing has existed for millennia since the first Cities rose Proto-industrialisation (also spelled proto-industrialization) is a phase in the development of modern industrial economies that preceded and created conditions for the establishment In medieval Europe, industry became dominated by the guilds in cities and towns, who mutual support for the member's interests, and maintained standards of workmanship and ethical conduct.
Industrial development
The industrial revolution led to the development of factories for large-scale production, with consequent changes in society. is a process of social and economic change whereby a human group is transformed from a Pre-industrial society into an industrial one The Industrial Revolution was a period in the late 18th and early 19th centuries when major changes in agriculture manufacturing and transportation had a profound effect on the Originally the factories were steam-powered, but later transitioned to electricity once an electrical grid was developed. The mechanized assembly line was introduced to assemble parts in a repeatable fashion, with individual workers performing specific steps during the process. An assembly line is a Manufacturing process in which parts (usually Interchangeable parts) are added to a product in a sequential manner using optimally planned This led to significant increases in efficiency, lowering the cost of the end process. Later automation was increasingly used to replace human operators. Automation ( Ancient Greek: = self dictated) roboticization or industrial automation or Numerical control is the use of Control systems This process has accelerated with the development of the computer and the robot. A computer is a Machine that manipulates data according to a list of instructions. A robot is a mechanical or Virtual Artificial agent In practice it is usually an electro-mechanical system which by its appearance or movements
Declining industries
Historically certain manufacturing industries have gone into a decline due to various economic factors, including the development of replacement technology or the loss of competitive advantage. Deindustrialization (also spelled deindustrialisation) is a process of Social and Economic change caused by the removal or reduction of industrial An example of the former is the decline in carriage manufacturing when the automobile was mass-produced. A carriage is a wheeled vehicle for people usually horse-drawn
A recent trend has been the migration of prosperous, industrialized nations toward a post-industrial society. A post-industrial society is a society in which an economic transition has occurred from a manufacturing based economy to a service based economy, a diffusion This is manifested by an increase in the service sector at the expense of manufacturing, and the development of an information-based economy, the so-called informational revolution. The term information revolution (sometimes called also the "information al revolution" describes current economic social and technological trends In a post-industrial society, manufacturing is relocated to more economically-favorable locations through a process of offshoring. Offshore may refer to oil and Natural gas production at sea see Oil platform.
Industrial technology
There are several branches of technology and engineering specialised for industrial application. Industrial technology is a field of study designed to prepare technical and/or management oriented professionals for employment in business industry education and government Technology is a broad concept that deals with a Species ' usage and knowledge of Tools and Crafts and how it affects a species' ability to control and adapt Engineering is the Discipline and Profession of applying technical and scientific Knowledge and This includes mathematical models, patented inventions and craft skills. Note The term model has a different meaning in Model theory, a branch of Mathematical logic. An invention is a new form composition of matter device or Process. A craft is a Skill, especially involving practical arts. It may refer to a Trade or particular art See automation, industrial architecture, industrial design, industrial process, industrial arts and industrial applicability. Automation ( Ancient Greek: = self dictated) roboticization or industrial automation or Numerical control is the use of Control systems Industrial design is an Applied art whereby the Aesthetics and Usability of mass-produced products may be improved for marketability and Industrial processes are procedures involving chemical or mechanical steps to aid in the Manufacture of an item or items usually carried out on a very Industrial Arts is an umbrella term originally conceived in the early 20th century to describe educational programs which featured fabrication of objects in wood and/or metal using a variety In Patent Law, industrial applicability or industrial application is a Patentability requirement according to which a patent can only be granted
Industry and society
An industrial society can be defined in many ways. In Sociology, industrial society refers to a society with a modern societal structure In Sociology, industrial society refers to a society with a modern societal structure Today, industry is an important part of most societies and nations. A government must have some kind of industrial policy, regulating industrial placement, industrial pollution, financing and industrial labor. An industrial policy is any government regulation or law that encourages the ongoing operation of or investment in a particular industry Pollution is the introduction of contaminants into an environment that causes instability disorder harm or discomfort to the physical systems or living organisms they are in The field of finance refers to the concepts of Time, Money and Risk and how they are interrelated Industrial labour is labour in Industry, mostly understood as Manufacturing, but can include related service workers such as Cleaners and
Industrial labor
In an industrial society, industry employs a major part of the population. Industrial labour is labour in Industry, mostly understood as Manufacturing, but can include related service workers such as Cleaners and The labor movement first rose among industrial workers. The labour movement or labor movement is a broad term for the development of a collective organization of working people, to campaign in their own interest for better
See also industrial sociology, industrial and organizational psychology, industrial district, industrial park. Industrial sociology (also known as " Sociology of Industrial relations " or sociology of work) is both a study of the interaction of people within Industrial and Organizational Psychology (also known as I/O psychology, work psychology, work and organizational psychology, occupational psychology, Industrial district was initially introduced as a term to describe an area where workers of a monolithic Heavy industry ( Ship-building, Coal mining, An industrial estate is an area of land set aside for industrial development.
Industry and war
The industrial revolution changed warfare, with mass-produced weaponry and supplies, machine-powered transportation, mobilization, the total war concept and weapons of mass destruction. Industrial warfare is a period in the History of warfare ranging roughly from the start of the Industrial Revolution to the beginning of the Information Age Mass production (also called flow production, repetitive flow production, series production, or serial production) is the production of This article describes military mobilization For other meanings see Mobilization (disambiguation. Total war is a conflict of unlimited scope in which a Belligerent engages in a total mobilization of all available resources at his disposal A weapon of mass destruction ( WMD) is a weapon which can kill large numbers of humans and/or cause great damage to man-made structures (e Early instances of industrial warfare were the Crimean War and the American Civil War, but its full potential showed during the world wars. Industrial warfare is a period in the History of warfare ranging roughly from the start of the Industrial Revolution to the beginning of the Information Age The Crimean War, also known in Russia as the Eastern War (Восточная война Vostochnaya Vojna) (March 1854–February 1856 was fought Causes of the war See also Origins of the American Civil War, Timeline of events leading to the American Civil War The coexistence of a slave-owning South A world war is a War affecting the majority of the world's most powerful and populous nations See also military-industrial complex, arms industry, military industry and modern warfare. A military-industrial complex (MIC is a concept commonly used to refer to Policy relationships between Governments national Armed forces, and industrial The arms industry is a global Industry and Business which Manufactures and sells Weapons and Military technology and equipment. The defense industry, also called the military industry, is comprised of Government and commercial Industry involved in research development Modern warfare, although present in every Historical period of Military history, is generally used to refer to the concepts, methods and
Industry and the environment
- See pollution and industrial ecology. Pollution is the introduction of contaminants into an environment that causes instability disorder harm or discomfort to the physical systems or living organisms they are in Industrial Ecology (IE is an interdisciplinary field that focuses on the sustainable combination of environment, Economy and Technology.
Organization, management and economics
- See industrial loan company. Industrial Organization is a field of Economics that studies the strategic behavior of firms the structure of Markets and their interactions An industrial loan company (ILC or industrial bank is a Financial institution in the United States that lends money and may be owned by non-financial
Economic views of industry
Philosophers and economists have developed many different views of industry. See physiocrats, Adam Smith, capitalism, Marxism and Colin Clark's Sector model. The physiocrats were a group of Economists who believed that the wealth of nations was derived solely from the value of land Agriculture or land development Adam Smith ( baptised 16 June 1723 – 17 July 1790) was a Scottish moral philosopher and a pioneer of Political economy. Capitalism is the Economic system in which the Means of production are owned by private Persons and operated for Profit and where Marxism is the political philosophy and practice derived from the work of Karl Marx and Friedrich Engels. Colin Grant Clark ( November 2, 1905 - September 4, 1989) was a British Economist and Statistician who worked The sector model also known as the Hoyt model was proposed in 1939 by economist Homer Hoyt.
Industry sectors and classification
There are many other different kinds of industries, and they are usually divided into different classes or sectors. The primary sector of industry is agriculture, mining and raw material extraction. Agriculture refers to the production of goods through the growing of plants and fungi and the raising of domesticated Animals The study of agriculture Mining is the extraction of valuable Minerals or other geological materials from the earth usually (but not always from an Ore body Materials are physical Substances used as inputs to production or Manufacturing. The secondary sector of industry is manufacturing - which is what is colloquially meant by the word "industry". Manufacturing (from Latin manu factura, "making by hand" is the use of tools and labor to make things for use or sale The tertiary sector of industry is service production. A service is the non-material equivalent of a good. A service provision is an economic activity that does not result in Ownership, and this is what differentiates Sometimes one talks about a quaternary sector of industry, consisting of intellectual services such as R&D. The phrase research and development (also R and D or more often R&D) according to the Organization for Economic Co-operation and Development, refers
- light industry - heavy industry
- labor-intensive industry - capital-intensive industry
- By product: chemical industry, petroleum industry, meatpacking industry, hospitality industry, food industry, fish industry, software industry, paper industry, entertainment industry, semiconductor industry, cultural industry, poverty industry
ISIC
ISIC(rev.4) stands for International Standard Industrial Classification of ALL economic activities, the most complete and systematic industrial classification made by United Nations Statistics Division. Light industry is usually less Capital intensive than Heavy industry, and is more Consumer -oriented than Business -oriented (i Heavy industry does not have a single fixed meaning as compared to Light industry. The chemical industry comprises the companies that produce industrial chemicals The petroleum industry includes the global processes of exploration, extraction, refining, transporting (often by Oil tankers and pipelines The meat packing industry is an Industry that handles the slaughtering, Processing and distribution of animals such as Cattle The hospitality industry is a 35 trillion dollar service sector within the global economy The food industry is the complex global collective of diverse Businesses that together supply much of the Food energy consumed by the World population. The fishing industry includes any industry or activity concerned with taking culturing processing preserving storing transporting marketing or selling fish or fish products The software industry comprises businesses involved in the development, maintenance and publication of Computer software. The global pulp and paper industry is dominated by North American ( United States, Canada) Northern European ( Finland, Sweden The entertainment industry (much of which is informally known as show business or show biz) consists of a large number of sub-industries devoted to Entertainment The semiconductor industry is the collection of business firms engaged in the design and fabrication of semiconductor devices Once Semiconductors became a viable business According to international organizations such as UNESCO and the General Agreement on Tariffs and Trade (GATT cultural industries (sometimes also known as " The poverty industry refers to a wide-range of money-making activities that attract a large portion of their business from the poor. The International Standard Industrial Classification of All Economic Activities is a United Nations system for classifying economic data ISIC Rev. 4 is a standard classification of economic activities arranged so that entities can be classified according to the activity they carry out. The categories of ISIC at the most detailed level (classes) are delineated according to what is, in most countries, the customary combination of activities described in statistical units and considers the relative importance of the activities included in these classes. While ISIC Rev. 4 continues to use criteria such as input, output and use of the products produced, more emphasis has been given to the character of the production process in defining and delineating ISIC classes.
Yahoo!Finance
Industry Center by Yahoo!Finance is also very useful (shows Trends of all industrial sectors).