UK Economy
- 7th largest in the world
- 3rd largest in the world
- One of the most globalised coutries
- London is the largest financial center equal with New York
- Largest industries - aerospace, pharmaceuticals, North Sea oil and Gas
What is an industry sector?
Primary:
Mining, forestry, grazing, fishing and gathering
Secondary Sector:
Manufacturing and taking the primary goods and processing them. Cars, chemical, aerospace, construction and brewery.
Tertiary Sector:
The tertiary sector of the economy is the service indstry.
Restaurants, healthcare, law, banking and transportation
Quaternary Sector:
Consists of intellectual activities. Scientific, research, I.T, education, culture and government.
Why are industry sectors important?
Sectors are models so that we can analyse the economy in depth as a whole. Any economy can be divided.
Why do we need to be aware of the economic sectors?
- So we can be aware of relationships within sectors
- So as individual in our industry we can identify gaps in the market or where there isn't. We can start to predict competition and understand current trends.
The Service Industries
Public Sector
Part of the Economy concerned with proving basic government state or publicly owned services.
These services are often of benefit to the whole of society rather then just the individual who uses them. for example the NHS.
Private Sector
Not a state controlled, and is run by individuals and companies for
profit.
Offering services in a free market economy.
Third Sector
The part of the economy that includes voluntary or not-for-profit sectors or organisations.
"An intermediary space between business and government where private energy can be deployed for public good." - Jim Joseph
The presence of a large non-prifit sector is sometimes seen as an indicator of a healthy economy in local and national financial measurements.
Service Industries
Creative industries
Education, health & social work
Fiancial and business sevices
Hotels and restaurants
Other social and personal services
Public admin and defence
Real eastate and renting
Tourism
Transports, storage and communication
Wholesale and retails trade
THE CREATIVE INDUSTRIES
Refers to a range of economic activities which are concerned with the generations or exploitation of knowledge and information. They may variously also be referred to as the cultural industries (especially in Europe) or the creative economy.
In general, creative industries are a set of service enterprises that engage in economic activities originating in individual skill, creativity, and talent for potential wealth creation.
- Advertising
- Architecture
- Arts and antique markets
- Crafts
- Design (see also communication design)
- Designer Fashion
- Film, video and photography
- Software, computer games and electronic publishing
- Music and the visual and performing arts
- Publishing
- Television
"Design is a thread that connects ideas and discovery to people and markets"
The Business of Design
The Design council 2005
- 185, 500 Designers are generating £11.6 billion in annual turnover.
- 62% of designers are under 40
- 31% (20, 436) of design business are based in London
- 60% isn't!
- 59% of design companies employ fewer than 5 people
- Over 50% of UK design business work in communications, digital and multimedia design.
There are 3 main types of companies working in the creative industries
- Design Studios/Consultancies
- In-house design teams
- Freelance designers
Disciplines in the creative industries
Communication design
Products and industrial design
Interior and exhibition desihn
