What does Standard Industrial Classification
(SIC) mean to you? This Code list and describe Economic Categories https://classcodes.com/sic-code-list/
for Measurements and Comparisons of Taxation Revenue, Job creation and formation
of Education Policy. This or similar codes are used by Statistical Agencies to
calculate Sector or Industry Outputs and the national, regional Gross Domestic
Product (GDP) reporting and forecasting of global trends by the World Bank and
the International
Monetary Fund (IMF). Monitoring countries economic growth, by
expansion or decline, in every sector or industry measured output, as
operations in the sector or industry increases or decreases. Noting, it is the
implementation of Entrepreneurial ideas and activities which expands or
declines GDP.
Some Nations’ Statistical Agencies, such as (http://cso.gov.tt/),
utilize less categories to measure and calculate their own GDP and changes to
their economy. SIC divides all the finished goods and services
produced within a country's borders in a specific time period and measures each
monetary value, estimates are commonly used to determine the short-term future economic
performance and standard of living of those employed in such Sector
or Industry, and to make comparisons. Year on year, are these
sectors and industries providing better paying and more jobs? Are sectors and
industries expanding and diversifying? Hence, are lifestyles improving?
With you and parents understanding SIC sectors and
industries codes and measures, each would be able to pick, and guide children
into, essential and growing sectors and industries categories, for education
and career. The essential classifications are #SYNERGIES
#Security #Healthcare #Education #Infrastructure #EconomicDrivers which is the country’s basic needs. Necessities
funded chiefly by tax collections and parliamentary allocations and must be
delivered efficiently. While, many other SIC sectors and industries categories,
whether engaging publicly or privately, owned operations, are measured and
compared to determine profitability which equals sustainability. Common Sense
can easily spot operations that are growing and declining, that will build your
career or soon be abandon.
Competitive Advantages are the driving force in job
creating, taxpaying and sustainable operations. However, it is the essential
category Economic Drivers through which
the nation and its population must layout initial investments to structure and
regulate of reform SIC sectors and industries. Drilling and Mining operations,
the Extractive Industries, clearly illustrate this initial contribution where
the nation must firstly invest in geological surveys and reports to sell
exploration rights to oil and gas companies. Agriculture and Construction
Sectors also require some type of land surveys and other technical reports that
must be funded before delegating land usage, for plant or animal farming or for
residential housing.
Sectors that intersect, must achieve economies of
scale, by having access to large markets, a consuming population base with the
same costing factors. Year over Year, Transportation (Air, Sea and Land), Tourism,
Trade and Finance are measured and compared to indicate growth or decline, with
policy corrections, constitutional, legal and regulatory, to move declines into
growth. Preparing the skilled and educated work force for the demands of
productive local sectors and discouraging failing industries, is the job of the
elected Government. Hence, giving us all timely and accurate SIC and GDP data, and
educating the public to use these essential (across-the-board) Services.
Rationale
T.A.J
& Associates Company Limited
uses this occasion to comment on topics that have been covered, both academically
and by the mainstream media, to add its opinion and point out investment
opportunity, not to invoke any social action.
