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MAN 4720 - Strategic Management (Sheridan): SIC / NAICS

SIC and NAICS

Identifying the NAICS for an Industry -- One of the easiest ways to identify the NAICS or SIC for an industry is to look up a company in that industry using one of the business databases. The descriptive information about the company almost always includes a listing of the industry or industries in which the company is engaged.

The North American Industry Classification System (NAICS, pronounced Nakes) was developed as the standard for use by Federal statistical agencies in classifying business establishments for the collection, analysis, and publication of statistical data related to the business economy of the U.S.

NAICS has been very slowly replacing the Standard Industrial Classification (SIC) in various commercial resources since 1997. The changes in categories and groupings of industries between SIC and NAICS were extensive and can make it very difficult to compare data longitudinally. Some business sources still include SIC numbers for use in comparing with older data.

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