NAICS is a New Industry Classification System. After 60 years of use, the outdated Standard Industrial Classification (SIC) system was retired and replaced by the new North American Industry Classification System (NAICS).NAICS is the product of a collaborative effort between the United States, Canada, and Mexico.AICS doubles the number of top-level groupings of industrial classification. The highest level of NAICS classification is called the sector, and corresponds roughly to the division in SIC. There are 20 broad sectors in NAICS, compared to only 10 divisions in SIC.
Strategy (from Greek ÏÏÏÎ±ÏÎ·Î³Î¯Î± stratÄgia, art of troop leader; office of general, command, generalship) is a high level plan to achieve one or more goals under conditions of uncertainty.
So, what is a business strategy? Strategy is different from vision, mission, goals, priorities, and plans. It is the result of choices executives make, on where to play and how to win, to maximize long-term value.âWhere to playâ specifies the target market in terms of the customers and the needs to be served.he target market, value proposition, and capabilities must hang together in a coherent way. And good strategies call for the right amount of âcapabilities stretchâ: not too much or too little change from the capabilities a business already has. Every company faces innumerable options for where to play and how to win.