Is the study of firms, industries, and markets. It looks at firms of all sizes – from local corner shops to multinational giants such as Nile breweries or Bujagali hydro power dam. And it considers a whole range of industries, such as electricity generation, Cement manufacturing and restaurants.
What is the importance of industry study?
Industry analysis, as a form of market assessment, is crucial because it helps a business understand market conditions. It helps them forecast demand and supply and, consequently, financial returns from the business.
What is the main purpose of industry?
The industry is a fundamental activity in the economy of any country, and it’s responsible for the processing and the transformation of natural products (raw materials) into other finished and semi-finished products.
What is the example of industry?
An industry is a group of businesses that are related in terms of their main activity, for example manufacturing Cement, bricks, Batteries, plastic, aluminum, phones or selling groceries. Smaller industries (for example, the car manufacturing industry) can be grouped into larger industry sectors (for example, the manufacturing sector in general).