5 crores, utilises labour intensive production techniques or capital-intensive production techniques or both are known as Small Scale Industries. Which industry excites you the most? The one thing they all have in common is that these advancements can be seen in certain types of industries. The technology sector is what everybody want to be in, as it’s bringing the maximum disruptions in today’s businesses. Every country in the world started by developing its agricultural industry, before the concept of industries came to be. The consumer goods sector is responsible for producing everyday goods that are consumed by an average consumer. Most of the times students who have a choice go by the most popular public opinion. For example, toy company X, looking for a marketing manager, may hire someone who worked as a salesman at toy company Y. This gives them an edge, as they have developed a strong niche for themselves. For example; In India, Khadi industry was home based industry as in villages it was run by every household. Most common examples are industries of Artistic products made from metal, leather, clay, etc. A few companies in this sector include Microsoft, Infosys, Accenture, TCS (Tata Consultancy Services), Google, etc. Earlier on the main professions were related to law, the clergy, medicine and business. Joint Stock Companies are managed by government within framework of prevailing company laws but owned by shareholders from which government raises capital by issuing and selling shares to the people or institutes. Industries producing such kinds of commodities are known as consumer goods industries. Accountants, researchers, computer programmers etc. Your end goal for choosing a career is to ensure you always have something interesting to do in a field that ideally, never lets you stop earning. Some of the companies in these types of industries include LIC (Life Insurance Corporation), SBI (State Bank of India), ICICI, HDFC, etc. His interests are in behavioral psychology, economics and chess. Types of industries are as following: Industries which are mainly operated by family members with the help of simple equipment, negligible amount of investment, electricity consumption and machinery is known as home based or cottage industry. Making a career for yourself is all about finding the balance of what you like to do, what you can find (and maintain) a job in and what you can earn well in. Abhishek Sareen is a marketing professional with over 16 years of experience. Ask yourself which is that field or function you could work tirelessly in and not get bored. Depending upon the industry, there are various functional departments, which can be classified as Manufacturing & Operations, Sales & Marketing, Human Resources, Research & Development, Finance & Accounting, Purchase & Sourcing, Logistics, etc. Private Sector Industries are owned and managed by private individuals or group of people. Copyright © 2015 Flex Mag Theme. Cooperative Industries are owned and managed by group of people on co-operative basis to stop exploitation of small owners, labourers or workers and of consumers and to provide benefit to all. Choosing an industry is very tricky and most often people are always in a dilemma. Types of industries are the different types of activities that create jobs through manufacturing goods, providing services, processing items or fulfilling a demand. Don’t get swayed by salary figures that you read in the news and media. Medium scale industries are ones which have investment limit of more than Rs. As Peter Thiel says, “It’s better to have bad plan than no plan.”. Cultures can be influenced by one another and it has made it easier for people to understand one another across the globe even if they haven’t been to a certain country. We do not earn any commissions from any advice posted on this website, or from any career/college decisions you make. These are range from automobiles, food & beverages, personal care and household goods. Most often people don’t want to deviate from their function. Today, due to scientific developments, technological advancements and research and development, there are different types of industries. This understanding of people across the globe has made it easier to understand societies and so, students of sociology can use this to their advantage while even those who do not study the subject would know of how to interact with people if/when they go to foreign places/countries. From technology to services, here are 10 types of industries and different job roles in them (with examples) that every student needs to know about. 25 lakhs and less than Rs. Thank you so much for providing an exceptionally detailed article. Quaternary Industries. Marketing Career Path: Is Marketing a Good Career? Career Nuts is not affiliated with any university or institution. Consumer Services industry relates to all services that are intangible in nature, but these play a critical role in our well-being. Industries of any country has many types which can be classified on the basis of certain grounds like the size of investment, ownership and nature of produced products. When choosing a career as a student, there are two major things to consider. I have seen people who wanted to stick their industry as they felt secure and comfortable. And the industry will define what type of company you’ll join as a professional. Industries which are under the ownership and administration of government are known as Public sector units/ industries. Types Of White Blood Cells And Their Functions. Types of IndusTrIes We will follow this pattern: -Characteristics -Location -Types 2. However, nowadays a lot of companies look for people with domain expertise from diverse industry backgrounds, as they want new ideas and outlook. Intermediate Goods Industries are ones which have semi-finished production which means goods are semi processed in nature or still in the process of production. A few examples in this sector include Reliance Jio, Airtel, etc. My tips to students who are planning to choose an industry or career is are as follows: So I hope my guide to different types of industries and jobs in them will help you select what you want to work in. It can be edible items like fish, medicines and pearls to make accessories items like jewellery. Oil & Gas is also known as the energy sector. Types of Industries - Free download as Powerpoint Presentation (.ppt), PDF File (.pdf), Text File (.txt) or view presentation slides online. https://en.wikipedia.org/wiki/Industry_Classification_Benchmark. Try out various study courses to find out what you really enjoy. Skill sets commonly include financial acumen like accounting, costing, or engineering acumen like production, quality control, maintenance, design etc. There are three sectors in any economy of the world i.e. For example, a marketing manager can work for a hotel chain, or a toy company. For general information on industry, see Category:Industry. I have been to an oil exploration site once; the environment is tough yet interesting. Your email address will not be published. What I mean by functionality is what kind of skill sets you apply, such as design, computing or sales, etc. The most basic of all types of industries is the agricultural industry. Basics services like electricity, gas, water, which we sometimes take for granted fall under this sector. Home based or Cottage Industries: Industries which are mainly operated by family members with the help of simple equipment, negligible amount of investment, electricity consumption and machinery is known as home based or cottage industry. It deals with all kinds of fixed line and mobile technologies, infrastructure and services. This exposure to other cultures has made the world a global village. You need think objectively and not get swayed by public opinion. Industries which have investment of more than Rs. Your email address will not be published. For Examples; Food processing, cotton textile, silk, jute, dairy products, and leather industries. Small Scale Industries are ancillary industries to medium or big industries. You will eventually find your way. Required fields are marked *. We accept contributions from enthusiastic readers like you to help and grow our online community. in this sector. How to Become a CA: Course and Qualifications, Chartered Accountant Career Path: All You Need To Know, 7 Student Leadership Skills based on Real Life Experiences. All rights reserved, Meaning Functions and Types of Commercial Banks, Population Explosion in India: Causes, Effects and Measures Explained, Importance of Small Scale Industries in Indian economy, Types/ Classification of Industries Explained, 15 Main Difference between Internal Trade and International Trade, Economic Growth vs Economic Development: 9 Main Differences Explained. Let us know below or you can tweet me @slubguy! You are not a failure if you are not able to find a job. Or you stick to an industry, and move across functionality. Industries have their highs and lows, so individuals should always be on the lookout for new sunrise industries. However, this sometimes limits the options for growth. Different types of industries affect a country in different ways. Have an entrepreneurial mindset. Examples include Arvind Mills (clothes), Samsung (washing machines), Coca Cola (soft drinks), etc. Types of industries are the different types of activities that create jobs through manufacturing goods, providing services, processing items or fulfilling a demand. Here you can expect to deal with heavy machinery, off-site mining locations, large plantations, dealing with commodity. The entertainment industry is another important industry. Tiny Industries are ones which are operated or run on labour-intensive production technique along with the investment limit up to Rs. So I would advise you to be more exploratory and experience new functions and types of industries, but this depends upon your comfort level. Agriculture, Industries and Service sector. He is a graduate in Computer Science and an MBA in Marketing. Basic Industries. It also deals with Pharmaceuticals & Biotechnology. Wondering what type of company will be right for you? The most important part of the involvement in this industry is that these guys help treat, cure and eradicate different types of diseases in the world- or at least they try to. A lot of times you may not have an option to do so, but you should always be aware about the possible types of industries and careers, which can help you in making career changes over the period of time. Example are Industries related to steel, iron, petroleum, big vehicles etc. It’s okay if you are not sure what you like. Such industries are not working under direct controls of government. Paper industry and pharmaceutical industry are examples of forest-based industries. More examples are Papad, Khakhra, pickle and incense stick making industries etc. Most of goods you could see around yourself are produced by such private sector industries including food, electronics items, clothes etc. Subcategories. The pharmaceutical industry is one of the most lucrative one of all the other types of industries. Also known as IT sector. Instead, try to form opinions by analyzing what is good for you. Shops of daily used (essential) commodities, dairies, several banks have administration on co-operative bases. The jobs are linked to one of the other types of industries. Chef Career Path: Is Being a Chef a Good Career? Always have a plan, even if it does not look like plan. Forest-based industries are ones which use raw materials obtained from the forest like wood, medicinal plants. I would personally advise people to build a good domain knowledge.
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