Best Resources to Build Industry Business Acumen (High-Level Industry Primers)

Question

I’d like to build stronger business acumen across a range of industries. Is there a “go-to” primer you’d recommend for getting up to speed quickly on unfamiliar sectors?

Ideally, I’m looking for high-level, structured overviews (not full-length industry books). Something that summarizes, for each industry, the core business model and the main drivers - e.g., pricing and volume dynamics (P/Q), cost structure, profit pools, value chain, and competitive landscape.

Are there any websites, databases, or books you’ve found especially useful for this kind of fast, interview-relevant industry ramp-up?

Answer 1

Hi,

This is something that I used to do when I was preparing for interviews many years ago, but in hindsight, I really think it was not the most effective use of my time.

I would have spent more time instead working on the core problem solving skills, because the case interview is a test of thinking and not knowledge.

Does familiarity help? Maybe, but more often than not it is the lack of fundamentals that cause people to fail, not the fact that they 'didnt know the industry'. This is a point I only realized after being in the interviewer's seat for ~5 years.

Now, if you really want to have something like that - I strongly suggest you create it yourself, instead of reading it elsewhere. The act of creation of your own version of the notes will help you absorb it better.

You might also find this article helpful in your prep:

Using AI for Case Preparation

All the best!

Answer 2

That is an excellent question, and frankly, the framing you used—asking for P/Q drivers, cost structure, and profit pools—is exactly how a consultant structures an industry deep dive. You are looking for a highly structured view, and the generic business primers often fail here.

Forget the books. The single best external resource that mimics the rigor and structure of an internal MBB industry intelligence briefing is a Tier 1 Investment Bank’s Initiation of Coverage Report (ICR), often called an Equity Research Primer. When an analyst starts covering a new sector (e.g., U.S. Regional Banks or European Specialty Chemicals), they produce a massive document that does exactly what you're asking for. They define the industry, size the profit pools, map the value chain, detail the key operating metrics (your P/Q drivers), and compare cost structures across competitors.

You do not need to read all 100 pages. Focus exclusively on the first 20–30 pages and the key appendix slides. Search for recent (post-2022) ICRs from firms like Goldman Sachs, J.P. Morgan, or Morgan Stanley for sectors like Telecom, Retail, or Manufacturing. They are often available via a quick, targeted Google search. These reports are essentially free, battle-tested sector frameworks.

For rapid, high-level context—especially understanding where the consultants play in that industry—the older Vault and WetFeet industry guides are still surprisingly useful. While they might be dated on current events, they typically nail the static view: the core industry structure, the key functional areas (R&D vs. Logistics vs. Sales), and where the critical profit pools lie within the value chain. Use these as a map before diving into the detail provided by the ICRs.

All the best!