Definition of an Industry Profile
An industry profile is a brief or comprehensive summary of essential industry information that offers a perspective on the economic health of the industry. Industry profiles are used for government and market research. Hoovers is a leading publisher of industry profiles.
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Industry Processes
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An industry profile explains how an industry and its products or services affect the marketplace. Supply and demand are the key cornerstones for measuring industry output. This section of the report describes the manner in which a product is manufactured and distributed.
Skill Sets
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Skill sets provide information about professional degrees, certifications and background required for industry entry and advancement. This section can also explain how certain skills are transferable and may require continued education.
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Employment
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An industry profile includes employment data provided by the U.S. Bureau of Labor Statistics. This information reveals how many people are employed in the industry and what the unemployment rate for the industry is compared to the overall economy.
Environmental Impact
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A major issue affecting all industries is environment protection. Companies that produce hazardous waste are facing progressively stricter government regulations due to increased understanding of climate change and pollution.
Capitalization
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An industry can be well-funded by financial institutions and government programs. Costs of materials, transportation and labor are essential factors to determining the economic health of an industry.
Outlook
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An industry outlook is based on economic trends and forecasts made by industry leaders. Quarterly economic data is collected and reported by the U.S. Government for every major industry and sector. Manufacturing and service contracts are key to formulating opinions on industry growth as well as an analysis of consumer trends.
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