Essay On The North American Industry Classification System

Pharmaceutical companies are provided with temporary monopoly rights on the production of new drugs which result in a higher cost on consumers. If competing companies were allowed to produce generic forms of those drugs, consumers will be able to afford those medications even in cases where those consumers have no insurance coverage. The company responsible for developing and inventing the original medication could be offered incentives to invent in the future by either obtaining tax breaks or NIH funding for future research. They could even be offered a percentage of the sales of the generic drugs. Economist Gary S. Becker advocates dropping many FDA requirements that, in his opinion, provide no additional safety measures but rather delay the development of new drugs.[12] Betamethasone, for example, has been part of the standard prenatal care in Europe since the late 1970’s while it got adopted in the U.S. after 1997. On many occasions, the FDA ignores all scientific evidence concerning certain drugs because the manufacturer did not follow their mandated bureaucratic standards.

To aid us in our decision making process in the matter of determining the appropriate classifications in the statement of cash flows for the purchase and sale of EAs, we primarily used the Accounting Standards Codification

While academics, economists, and political scientists nearly universally credit the theories of regulatory capture as having merit, the literature and empirical evidence of regulatory capture in the case of pharmaceutical regulation is divided.

Performance measure record sheet is used to analyse the constitution of IDC and to prove that whether IDC is clearly defined (Neely et al., 1997). The analysis is shown in table 2.1.

The industries assessed are within the structure of the US OMB NAICS coding system. The NAICS system categorizes industries and economic activities in USA at varying levels of aggregation which range from broadest detail to the most detailed level. The evaluation proceeds in three main steps (Frechtling & Horvath, 2009). First the study looks at the general characteristics of the Mimi economy, then the concept of location quotient is described. The different industries are analyzed using the location quotient method. Afterward the concept of shift share analysis is looked at. Finally the summary and recommendations are given.

The division of American Industrialization caused Economic and Political differences between the North and South, such as their diverse industrialization and sectional politics.

ICS was based to handled Single jurisdiction and/or single agency, Single jurisdiction with multiagency or Multijurisdictional and/or multiagency support. NIMS

The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy. (North American Industry Classification System, n.d.). NAICS is a 2 through 6 digit hierarchical classification system, offering five levels of detail. Each digit in the code is part of a series of progressively narrower categories, and the more digits in the code signify greater classification detail. The first two digits name the economic sector, the third digit designates the subsector, the fourth digit designates the industry group, the fifth digit designates the NAICS industry, and the sixth digit designates the national industry. The 5-digit NAICS code is the level at which there is comparability in code and definitions for most of the NAICS sectors across the three countries participating in NAICS (the United States, Canada, and Mexico). The 6-digit level allows for the United States, Canada, and Mexico each to have country-specific detail. A complete and valid NAICS code has six digits (North American Industry Classification System, n.d.).

Many rivals in this section implies restricted piece of the overall industry. i.e. limited market share

Although the NAICS primary industry code is that of retail trade, it does further delineate it to auto supply stores principally selling automotive parts and accessories (Siccode.com, 2017). Understanding the competitors of the primary industry, as well as being able to identify ancillary industries, helps to clarify the industry more effectively. Consequently, I would not include new car dealerships or discount stores in this primary industry.

Individuals use the Standard Industrial Classification (SIC) system and the North American Industry Classification System (NAICS) to categorize what industry a company operates in. The capital markets industry group has several related SIC and NAICS codes; Table 1 and Table 2 below describe the SIC and NAICS codes related to the capital markets industry.

The cheaper medicines whose composition isn't designated obviously need to now not be taken. Reports inform that there are unique companies which copy brand names and furnish the medicines at more cost-effective rates. The primary-time purchaser cannot make out which one is common and which one just isn't.

The major products and services of the industry are organizational design, corporate strategy, process and operations management, financial advisory, and strategy for human resources, IT and marketing and sales. (Blau, 2016)

The North American Industry Classification System code, or NAICS is 334413 semiconductors and related device manufacturing (Morningstar.com).

Based on the study of NPS, certain suggestions have been drawn feeling the urgent necessity and implementation after been consulted by experts. The suggestions are –