Accounting technicians scheme west africa
A.6.3 Input Based Classification
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- A.6.4 Types of Ownership 1. Manufacturing Industries
- Synthetic Industry
| A.6.3 Input Based Classification On the basis of the source of major input and nature of input, industries maybe classified into agro-based, forest-based, marine-based, metal and chemical-based industries. An agro-industry is one which uses agricultural produce like cocoa, palm produce, jute, cotton, etc. as their major input. Forest-based industries are those, which use forest produce as their major input. An example is paper industry. Many industries such as producers of fertilizers, drugs, etc. are regarded as chemical-based industries as chemicals are the major input. A.6.4 Types of Ownership 1. Manufacturing Industries Manufacturing industries are divided into the following four categories ab Analytical Industry: These are industries concerned with separating a single material input into several elements. Ina refinery (oil industry) crude oil, which is the single input, is used in the production of many products like petrol, diesel, kerosene and lubricating oils. b) Synthetic Industry: This is concerned with combining several raw materials and processing them into a single unit (output. For example, limestone, gypsum, silica, iron oxide etc, are crushed, mixed and blended to form cement. c) Process Industry: It is concerned with the processing of materials through different stages of production so as to make the final product. For example, cotton is processed through several stages like cleaning, ginning, spinning, weaving, bleaching, dyeing, etc, to convert it into cloth. db Assembly Line Industry: This involves joining various components and parts to produce a single product. For example, a car, television set, dress, etc, is made by joining together, several different component parts. 2. Profit/Non-profit A business or profit-oriented organisation is generally created to generate profit for its shareholders. The no-for-profit organisation is not designed to generate for its owners. Examples of not-for-profit organisation are the Red Cross, National Agency for Food and Drug Administration and Control (NAFDAC), etc. |