Find out what is COMMERCIAL AWARENESS

What does it matter?

What you should know?

AND work on ELP3

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

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

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

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?

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

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.

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

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

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

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

Prepare some intelligent questions

Wow them with your knowledge

Don’t ask them for sensitive information

Don’t put pressure on them

UK Student Careers - PwC Employability

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)