Find out what is COMMERCIAL AWARENESS What does it matter? What you should know? AND work on...
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Transcript of Find out what is COMMERCIAL AWARENESS What does it matter? What you should know? AND work on...
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Find out what is COMMERCIAL AWARENESS
What does it matter?
What you should know?
AND work on ELP3
![Page 3: Find out what is COMMERCIAL AWARENESS What does it matter? What you should know? AND work on ELP3.](https://reader036.fdocuments.us/reader036/viewer/2022081516/551ae77a55034606048b5c57/html5/thumbnails/3.jpg)
Various definitions of commercial awareness, but in essence it means:
An understanding of the sector, the company and the job that you are applying for
Ability to view events and circumstances from a business perspective
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Employers are attracted to candidates demonstrating that an effort was made to research the employer
Makes you more appealing (give you the edge)
Make you feel more confident at interview
You get to know the employer and find out if you really want to work for them
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The business itself
Company website, literature, company brochure
The news
Online search engines, newspaper websites, keep up to date with general developments
University resources
Careers services for employer information, library trade magazines, journals, etc.
Sector magazines, publications and websites
Talking to people in the industry
Insider information
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Through work experienceHighlight all kind of work experience, part time and
voluntary work
Key thoughts
How was the company structured?
How did it differentiate itself in the market?
What were the needs of the clients or customers?
Who were the main competitors?
Did any legislation impact on the delivery of its services?
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Undertaking key roles in societies at university or school
Key thoughts:
Have you raised money for charity?
Did you organise an event?
Responsible for making decisions/allocating budgets?
Have you secured sponsorship?
Responsible for marketing an event
Level of budget controlled
Targets in terms of money raised or numbers attended
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Undertaking key roles in societies at university or school
Key thoughts:
What did you do and what did you learn?
Were you given a financial role, market analysis, sales role, or any other?
Have you raised money for charity?
Did you organise an event?
Responsible for making decisions/allocating budgets?
Etc.
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By reviewing company’s annual report and website
(or that of your placement provider)
Key thoughts:
Do you know the products and services?
How company is structured?
Key market trends?
Aware of our values, aims and objectives?
e.g. Able to articulate company’s customers shopping habits have changed
E.g. healthy living and response of company
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When given a case study The candidate is asked to review specific areas
within an organisation and prepare a brief presentation
You should focus on the highest and lowest performing areas within an region & make recommendations
Their recommendations must include:
The relative differences in performance
Likely causes for differences
Suggestions on the ways forward
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When given a case study Interpret and use data presented in a numerical and
graphical format to make informed decisions
Understanding the needs of different customer groups based upon demographic information
Being able to work out the operating profit for each area
Providing creative recommendations
Being able to coherently bring together all of the information and consider it from different perspectives in a way that makes sense
Making decisions and recommendations that are commercially viable and logical
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Group Debate
Candidates are given instructions and an investment proposal
Then asked to propose (and agree) an investment opportunity considering both the commercial and ethical criteria
Establish rating criteria, e.g. a SWOT or PEST analysis
Consider economically viable options
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Prepare some intelligent questions
Wow them with your knowledge
Don’t ask them for sensitive information
Don’t put pressure on them
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UK Student Careers - PwC Employability
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Discuss what organisations you and your ALS would want to investigate with a view of future applications
Choose at least 2 organisations per ALS
Agree a time to meet and report back through your ALS online, not more than a week delay…
Then back to the computer for ELP3 (CU students only)
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