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BUS 501 Management Thought & Application (MBA course 1): NAICS and SIC

Examples

NAICS Codes

  • 445210: Meat Markets
  • 445220: Fish and Seafood Markets
  • 445230: Fruit and Vegetable Markets

SIC Codes

  • 5499: Miscellaneous food stores

What are NAICS and SIC codes?

North American Industry Classification System (NAICS)

Standard Industrial Classification (SIC)

NAICS and SIC codes are used to to classify business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy."

NAICS codes are six digits long and have partially replaced the older, less specific SIC codes, which are only four digits. NAICS codes apply not just to the United States, but to all of North America.

The easiest way to determine the primary NAICS and SIC code for your company business is to look hem up in Mergent Online. They are located in the top, middle of your company's home page. Additional NAICS codes (some company's operate in multiple industries) can be found in Business Insights: Essentials. Find your company profile. Look in the upper right hand corner of its home page.

Once you know which codes to use, you can search on that number in many databases.

NAICS website


SIC website

Search Tip

Write down your company's SIC and NAICS code early in the research process and use them to look up industry information.

Remember - many companies will have multiple codes! For instance, while Wal-Mart's primary industry is 

  • 452112: Discount Department Store

    it also deals in the following:

    • Apparel & Accessories Retail
    • Camera & Optical Goods Retail
    • Consumer Electronics & Appliances Retail
    • Cosmetics, Beauty Supply & Perfume Retail
    • Department Stores
    • Drug Stores & Pharmacies
    • Grocery Retail
    • Household Appliance Stores
    • Internet Retail
    • Jewelry & Watch Retail
    • Toy, Hobby, & Game Retail
    • Warehouse Clubs & Superstores