Yes, this is a good model for which industry. Beware, however, about the terminology - git also has the concept of tags, but the tags do not move - they always point to the same message.
Update: adding a bit more detailed information that might be of interest ...
The current branch is stored in a HEAD file that points to the branch, in which case the contents are as follows:
ref: refs/heads/master
... or it points directly to a commit, in which case the content will look like this:
2b45553eec2019594724dcbb4c252a74cbb5f38e
In the first case, the master branch advances when creating a new commit, but in the latter case (known as "detached HEAD", hopefully obvious reasons), no branch will be changed when creating a new commit.
Mark longair
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