SCIAN 551111—Management and administration of business or corporate groups

Where 551111 sits

1. 55 Managementt and administration of business or corporate groups
2. 551 Managementt and administration of business or corporate groups
3. 5511 Managementt and administration of business or corporate groups
4. 55111 Managementt and administration of business or corporate groups
5. 551111 Management and administration of business or corporate groups

Description

Economic units primarily dedicated to directing and controlling other economic units within the same group, defining the strategic and operational plans for the entire group they manage, the annual operating budget, and the annual investment plan. As part of their activities, they may establish the general and specific objectives of each unit; the group's labor, donation, and debt policies; the guidelines for environmental control, safety, and hygiene; and monitor the compatibility of administrative processes and procedures. They may also supervise the management of the group's units to ensure they operate within the established policy framework and that operational and financial results adhere to the established standards. Furthermore, they may advise and support their units in the areas of finance, law, accounting, administration, and government relations.

What 551111 includes

• Economic units (shareholders) that, in addition to owning shares in other companies of the same group, manage and control them.

Example activities

• corporate management and administration
• management and administration of banking corporations
• management and administration of corporate offices of insurance companies
• management and administration of financial corporations
• management and administration of non-financial corporations
• management and administration of business groups
• management and administration of controlling companies
• holding companies that manage and control other companies within the same group

Cross-references for 551111

• Establishments primarily engaged in providing third parties with investment advisory services in the stock market (523910, Investment advice); law firm services (541110, Law firms); accounting services (541211, Accounting and auditing services); management consulting services (541610, Management consulting services); a variety of administrative services for the daily management of businesses, such as financial, logistics, human resources, and production management (561110, Business management services); and economic units (shareholders) that own shares of other companies in the same group as part of a financial planning strategy, but do not manage and control them (551112, Shareholders).

551111 in other systems