Is business an industry

economic sectors

The Federal Statistical Office in Wiesbaden subdivides economic sectors according to the type of products they are characterized by or the service provided as follows (with the number of employees in 1998 in millions):

The term economic branches (branch) can be found mainly in official economic statistics. In the last census of workplaces on May 27, 1970, the economic sectors or companies were divided according to the type of products or services produced, namely into: agriculture, forestry and fishing, mining / energy and water supply, manufacturing, construction, Trade, traffic and news, banking and insurance, other services and liberal professions, non-profit-making organizations as well as local authorities and social insurance.
The formation of special business studies according to institutions is based on the division of companies according to certain economic sectors. A special business institution or branch of industry deals with the particular structural and functional problems of the companies in the respective branch of industry. It includes all operational functional areas.
The traditional division of institutional business management is divided into: industrial management, commercial management, banking management, insurance management, transport management, agricultural management and the teaching of public companies and public administration.

Designation for economic units in which companies are grouped according to certain criteria. Branches of economy form the most common structural elements of the economic structure. However, there is no uniform language regulation, as very different allocation criteria and aggregation levels are used for the units to be defined as economic sectors. In its systematics, the Federal Statistical Office divides the economic sectors into economic institutions that are involved in the economic process as producers of goods and services, investors, lenders and borrowers, consumers, etc. (see table). The departments of the corporate sector (0-7) represent a classification that aims to group according to the similarity of the production process (production, trade, services) at a relatively high level of aggregation, taking into account the economic levels (primary production, processing, etc.). The subdivisions and their further subdivisions into groups, subgroups and classes follow different aspects. Subdivisions and groups are primarily formed according to the material similarity of the goods produced or traded; they largely correspond to the division into branches of industry or branches (e.g. ironmaking, shipbuilding, shoe manufacturing) that is customary in empirical structural research. As the level of detail increases, problems of delimitation arise, since with a broad product range the economic activity affects different classes (goods), but the companies are assigned according to the focus of their added value. The division of the branches of industry (industry classification) follows z. T. other structuring aspects. Literature: Finking, G., Basics of Sectoral Economic Policy, Cologne 1978. Federal Statistical Office Wiesbaden (Ed.), Systematics of Economic Branches with Explanations, 1979 edition, Stuttgart, Mainz 1980.

Horizontal section in the business sector. This breakdown refers to organizations that perform the same or similar functions in the manufacturing process of various forms of a particular product.

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