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Fragmented versus consolidated industries

Distinguish between a fragmented and consolidated industry, and describe examples of each.

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Solution Summary

An industry is a compilation of firms that offer goods or services that are closely related and are also in direct rivalry with each other. There are many industry classification systems. Some of them include: the Standard Industrial Classification (SIC) system and the North American Industry Classification System (NAICS). Forbes, Business Week and Fortune magazines also use their own classification systems