What is Industry?
Industry can have a number of meanings and connotations, so sometimes it can be difficult to define exactly what is meant by the team ‘industry’ in a particular context. Here are some of the different meanings:
- A manufacturing process which involves the use of machinery within a factory setting
- A group of businesses with a particular focus of specific goods, products or services
- A particular group of profit-making organisations e.g. the financial industry.
This blog mainly focuses on articles relating to the first definition of industry, that is, processes involving machinery and factories. By default, this usually refers to large-scale processes which use machinery to streamline production. This may be because the products are particularly large or complex to build, or it may simply be that there is a very high demand for them and large quantities are required in order to meet this demand.
Some articles will also talk about industry in the sense of specific business groups, but again, this will target industrial business groups which are focussed on manufacture and manufacturing equipment.