A nonprofit organization is an organization that has been formed by a group of people in order "to pursue a common not-for-profit goal", that is, to pursue the stated goal expressly without the intention of distributing excess revenue to members or leaders. A nonprofit organization is often dedicated to furthering a particular social cau
The manufacturing industry is comprised of a variety of participants – everything from large, multinational corporations to local, family-owned businesses. Furthermore, these companies make everything from small specialty parts to household appliances and large construction equipment. As a result, the manufacturing industry is highly dependent on the health of other industries – especially construction and housing.
In recent years, the manufacturing industry has been forced to contend with increased international competition and the lingering effects of the recession. International competition comes primarily from low-wage countries with little employment and environmental regulation. This enables competitors to manufacture products at significantly lower costs. In response, many domestic companies have off-shored production. The future trend, however, is expected to include substantial repatriation of manufacturing due to consumer frustration with the low quality of foreign products. On the domestic side, upgrades in infrastructure and a continued housing recovery are anticipated to lead to greater demand.
The healthcare industry is comprised of many players; however, it is driven by primary care doctors and hospitals. The aging population has increased demand for healthcare services in recent years with no expectation of this trend easing.
Chronic illnesses are disproportionately prevalent in older adults and rising significantly due to demographic shifts. Additionally, the passage of the Patient Protection and Affordable Care Act now requires all individuals to obtain healthcare coverage. As a result of rising coverage, demand for primary care has grown substantially. But despite this growth, the number of primary care doctors has not expanded enough to keep pace with demand.
The hospital segment is consolidating and organizations are seeking the most skilled and specialized healthcare professionals. Consequently, labor costs in this industry are high and hospitals are increasingly facing nurse and physician shortages. Home healthcare and remote diagnosis of routine minor illnesses are becoming more common.
The restaurant industry has grown over the past several years thanks to declining unemployment and improved consumer confidence, resulting in greater spending on sit-down meals. While profit margins remains slim, costs have been kept under control resulting in growth through volume.
Full-service chain restaurants operate in competition against independent restaurants, fast-food chains and other establishments offering meals to eat in or take away. The trend over recent years has been greater convenience at a lower cost, which has hurt sit-down meals restaurants the most. In response, full-service restaurants have invested in technology to cut costs and redesigned layouts. Fast casual restaurants that serve high-quality food at reasonable prices will keep increasing competitive pressures and force profit margins to remain slim into the foreseeable future.
The construction industry has strongly rebounded over recent years. Tight credit markets, lower consumer spending and high unemployment slowed growth until recently as demand for new commercial and residential space has been low.
Commercial construction typically lags behind the overall economy by one to two years due to the length of contracts. As economic activity has increased, contractors' backlogs have filled and demand for new construction has picked up. As a result, many construction outfits are now able to raise prices – slowly leading to increasing profit margins.
Road and highway construction is also expected to increase due to the need to repair, expand and rebuild existing infrastructure. Together with growing congestion caused by urban sprawl, these factors will force authorities to spend. Demand is expected to remain strong over the coming years in all areas as a result of decreasing office vacancy rates, increased infrastructure spending and greater new home starts.
The oil and gas industry has been challenged by recent declines in oil prices, which are now expected to be sustained for some time. New technologies and extraction techniques, however, are enabling a quick recovery from the negative shock of low prices. Domestic production of oil and gas has steadily increased, and industry operators have positioned themselves to perform strongly in the future. The industry includes a few extremely large globalized companies that typically engage in all steps of the production process – everything from exploration to refining. These large companies received the majority of the benefits from the emergence of hydraulic fracturing and horizontal drilling techniques. As operators deplete their reserves, it becomes increasingly necessary to improve efficiency and minimize waste. Nonetheless, the number of industry operators is expected to increase, as previously uneconomical resources have become accessible.
The automotive industry involves the manufacturing of vehicles and parts for commercial and individual purposes. As the economy rebounded after 2010, consumer sentiment rose – and interest rates at historically low levels combined with extra incentives increased demand. Prospects ahead are encouraging for the industry, and profit is expected to trend upward over the next five years as industry operators benefit from rising vehicle sales and the cost-cutting measures enacted during the downturn. Generally, automakers are focusing on the production of smaller, lighter and more fuel-efficient vehicles to become more competitive in the wake of rising regulations and volatile fuel prices. Shifting consumer preferences, along with a general recovery in the demand for vehicles, is expected to lift industry revenue over the next five years. Additionally, re-shoring activity is anticipated to become prominent as more flexible labor agreements encourage industry operators to expand domestically.
Cattle on a pasture in Germany. Livestock are domesticated animals raised in an agricultural setting to produce commodities such as food, fiber, and labor. The term is often used to refer solely to those raised for food, and sometimes only farmed ruminants, such as cattle and goats.