Quote by W. Chan Kim
““Standard Industrial Classification (SIC)””
About This Quote
Source Book: Competitive Strategy, 1985
The Standard Industrial Classification system categorizes businesses for analysis, aiding market research and strategic planning.
In simple terms: SIC groups companies by industry for better analysis.
Use SIC codes to benchmark competitors.
Themes
Mood
Type
When to use this quote
- market research
- business planning
- industry reporting
Key Concepts
Questions to Reflect On
- How can firms adapt SIC data for emerging industries?
- Are there better classification systems today?
SIC can be outdated, limiting relevance for modern tech sectors.