Using Industry Classifications in Your Strategic Plans

Every day, intergovernmental organizations such as the United Nations, economic unions such as the European Union, countries such as the United States of America, and financial analysts such as Standard & Poor’s use classification systems to analyze and report economic activities in a unified manner. These classification systems ensure that everyone in the value chain is used shared terminology and that information systems are working with a single version of the truth (SVOT).

If you are a corporate manager, why is that important?

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