A business is an association or ambitious element occupied with commercial,
industrial or expert exercises. A business is formed following a business plan
which outlines strategic planning and its implementation. An organization
executes business exercises through the manufacturing of goods, offering of an
administration or retailing of manufactured items. A business can be a revenue
driven substance or a not-for-profit association that works to satisfy a
Industry: An industry portrays a significantly more particular
gathering of organizations with exceptionally comparable business exercises. An organization
may depict its business by passing on the industry in which it operates.
For example, the land business, publicizing business are ventures in which
a business can exist, like Exxon Mobil executes business in providing oil
Sector: An economy can be divided into different sectors in which
organizations share same kind of products or related products or service. On a
high level, most of the economies are divided into four sectors (primary,
secondary, tertiary, quaternary) which are then categorized into small sectors.
In other words, it can be stated that all of the organizations that fall into a
particular sector are categorized further into industries which share similar
business activities. For example, IT sector, Financial sector etc., the
financial sector is a class of stocks containing firms that give monetary
administrations to business and retail clients, it includes banks, insurance
companies, investment funds and real estate.
relation of these can be best understood by the below diagram: Economy is
divided into different sectors containing businesses/organizations (indicated
by boxes). Similar color boxes (businesses) correspond to a particular industry.
If we consider the above Financial sector example, Industry1 can be considered
as banking industry, Industry2 can be considered as insurance companies and so