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Business Research Guide

Industry Classifications: SICs & NAICS

Industry classification systems are designed to provide common definitions of the industrial structure of countries and a common statistical framework to facilitate the analysis of the economies. These codes are used in many business databases to group articles and data on similar industries and companies in order to facilitate the easy collection, tabulation, presentation and analysis of financial statistics and related data. Below are links to the  North American Industry Classification System (NAICS) Canada and the Standard Industrial Classification (SIC).

External Analysis

The  resources listed below will provide you with information on the industry in which your firm competes, helping you answer the questions such as:

  • Who are the key competitors?
  • What are the important environmental trends or current conditions affecting the industry?
  • How is the customer base structured?
  • Are there discernible market segments?
  • Which customer segments are of special importance?

Internal Analysis

The following listed resources provide information that will help you conduct an internal assessment of the organization, including an analysis of the strengths, weaknesses, opportunities and threats  (SWOT) of the organization.

Financial Statement Anlaysis

The following resources will help you find financials (balance sheet, etc.) on your company.

Assessment of the Organization's strategy