Compare industry and sector.

Banking & FinanceManagementCompanies/Organisations

The major differences between industry and sector are as follows −

Industry

  • It includes group of organisation/firms who produces similar products/goods.

  • It comprises grouping of companies/enterprises based on their business activities.

  • It is categorised based on their process.

  • The scope is narrow and it has a specific term.

  • There are different firms which can for form cluster.

  • It is ranked after sector.

  • It has specific analysis view.

  • Examples − manufacturing industry, extractive industry, construction industry etc.

Sector

  • It includes business groups, which are having similar services/products.

  • It comprises of entities/companies having similar processes/product line/operating activities.

  • It is categorised based on business activities.

  • It has wide scope and a general term.

  • Industries combined to form sectors.

  • It is ranked after economy.

  • It has generalised analysis view.

  • Examples: primary sector (agriculture, forest etc.), secondary sector (manufacturing industries), tertiary sector (support services like transportation, banking), quaternary sector (education, research etc.)

raja
Published on 25-Jul-2020 10:50:46
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