Econ4

• Classification of industry

  1.Primary

  2.Secondary

  3.Tertiary

  4.Quatermary

  5.Quinary
• Working with or extraction of raw materials /natural resources.-Primary
• Making or converting raw materials into usable products through processing and manufacturing. - Secondary
• Service industries or providing essential services and support to allow other levels of industry to function.- Tertiary
• Dramatic growth of this new sector, working with creation and transfer of information (ICT, Media sharing) including research and development . As well as knowledge based services like consultation.- Quaternary
• Control the industrial and government decision making processes includes industry executives and management and bureaucrats and elected officials in government.- Quinary
• In the Philippines we use the Philippine standard industrial Classification ( PSIC).
• Is a detailed classification of industries prevailing in the country according to the kind of productive activities undertaken by establishments.- PSIC
• A business that earns most or all its revenues from agriculture. An agribusiness tends to be large scale operations and deals with farming proccesing and manufacturing packaging and distributing agricultural products- Agribusiness
• Swine raising is raising and breathing domestic pigs as livestock- Hog/ Pig Raising
• Raising of domesticated birds such as chickens,ducks, turkeys and geese to produce meet or eggs for food.- Foultry Farming
• Raising of cattle for milk ,beef and hides- Cattle raising
• Goats raising for milk and meat- Goat raising
• Planting rice for rice production- Rice farming
• Planting veggies is an agribusiness specially learn how to plan off season varieties.- Vegetable farming
• Raising fish in a pen such as catfish,oyster,prawns, pangasius, bangus or tilapia is fun and exciting business, each species needs different environment to grow either fresh or salt water.- Fish pens
• Planting corn for consumption- Corn farming
• The process of converting raw materials, components, or parts into finished goods that meet a customer’s expectations or specifications.- Manufacturing
• make or create furniture such as lockers, bookshelves, showcases, chairs, tables, etc.- Furniture making
• Business that sell drinking water package in a plastic bottles or container.- Drinking water business
• business that produce different soap products- soap manufacturing business
• bread making is easy and simple business that can be done at home.- Commercial bread making
• is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit and usually it’s done directly to its final consumer- Retail
• The term_ is also applied where a service provider services the small orders of a large number of individuals. Recently, online retailing, a type of electronic commerce used for business – to – consumer (B2C) transactions and mail order, are forms of non – shop retailing- (retailer)
• Types of retail products

  1. Food products
  2. Hard goods and durable
  3. Soft goods and consumable
  4. Arts
• typically require cold storage facilities.- Food products
• these are automobiles, appliances, electronics, furniture, sporting goods, lumber, etc., and parts for them. Goods that do not quickly wear out and provide utility over time.- Hard goods or durable goods
• clothing, other fabrics, footwear, cosmetics, medicines and stationery. Goods that are consumed after one use or have limited period (typically under three years) in which you may use them.- soft goods or consumable
• Contemporary art galleries, Bookstores, Handicrafts, Musical instruments, Gift shops, and supplies for them- Arts
• is the exchange of capital, goods, and services across international borders or territories, significant share of gross domestic product (GDP).- International trade
• In a book published by the Development Academy of the Philippines, how to prepare project feasibility studies, it includes an industry analysis of the following important factors- Industry and environmental analysis
• Who are your competitors in the industry? What is the market share of these businesses? It is very important that you know your competitors and be ready for them.- Competition
• Who will you sell your product to? The target market must be identified. Who exactly will buy your products?- Costumers
• Who are your suppliers, from whom one can source raw materials, intermediate products, or even finished goods one intends to resell.- Suppliers
• is a tool that facilitates a company's understanding of its position relative to other companies that produce similar products or services.- Industry analysis
• enables small business owners to identify the threats and opportunities facing their businesses, and to focus their resources on developing unique capabilities that could lead to a competitive advantage.- Industry analysis
• According to Robert grant author of “Contemporary Strategy Analysis” an environmental analysis surveys the business landscapes to determine how external variables will affect its decision making.
• identify and evaluate as to how these environmental changes will affect our business so that appropriate counter strategies can be made well in time. Assessment provides us answer to the key issues presented by the environment and their impact on business.- Evaluation and assessment
• was introduced by Michael Porter in his 1980 book “Competitive Strategy: Techniques for Analyzing Industries and Competitors.”- Porter's 5 forces or Competitive Forces model.
• are the strengths or as weaknesses depending upon their effect on the organization’s objectives. What may represent strengths with their respect to one objective may be weaknesses (distractions, competition) for another objective.- Internal Factors