You might have heard companies talk about how important it is to have commercial awareness. We're here to help you understand what commercial awareness is, why it's important and how to become more commercially aware.
Commercial awareness is an understanding of how businesses and organisations work. Commercial awareness isn’t something you will gain and develop over night. It’s an investment to really understand what makes businesses tick and how they connect with the world around them. How external factors have an impact businesses.
Tips for becoming more commercially aware
- Join industry related societies
- Keep up to date with news and what's happening in the world
- Start gaining work experience
- Go to careers fairs and have meaningful conversations with recruiters
- Create your LinkedIn profile if you haven't already
- Research the website of the company you're interested
- Turn on google alerts of that company to stay up-to-date on the most relevant news stories
- Listen and watch related TV, radio or podcast about the industry
- Start to understand and research the types of clients they have
- Understand the political and social landscape that they operate in
- Google search the most recent news articles
- Link in with contacts from your networking
- Browse LinkedIn for up to date sector developments
- Read a companies annual reports to understand how they make money and what is important to them
What type of questions should you expect?
From your research what do you think makes us stand out from our competitors and why does that make you want to apply to us?
In order to answer this question, you'll need to have researched who our competitors are and what makes us different. There's a number reasons why people choose to work for Grant Thornton - it can be our people, our values or even the clients we work with. Make sure you know why you want to work with us and you'll have no problem with this question.
What impact could you see the COVID-19 global pandemic having on our business and our clients? How can we support them through this?
COVID-19 is just one example of what's happening in the world that can have an effect on our firm and our clients. It's important that you're aware of the impact that this can have on companies and what it means to them both positively and negatively. You don't need to have all the answers - we just want to know you're paying attention and can draw the connections.
What sort of services do we offer to clients?
You don't need to know all our services, because there is a lot, but it is important to have an understanding of some that relate to the business area you're applying to. Understanding how we support our clients in those service lines is important. We're not looking for you to have all the answers, but just enough to show you're interested and have done your research.
Hopefully this has helped you understand the benefits of becoming more commercially aware. If you're interested in learning more, you can watch this recording of a webinar we did Personal brand and commercial awareness.