Back to overview
Anonymous A
2 hrs ago
Australia & Oceania

How to get familiar with different industries?

Hi! I’d like to ask for any tips on how to deal with cases regardless of industry. I tend to do well if the case is on more “familiar” industries such as consumer products or retail. However, I find it hard to perform well on other industries that are less intuitive, such as banking, fintech, energy, or manufacturing. 

I understand that it’s impossible to learn about every single industry before an interview. However, how can I get better at reacting to whatever industry I get? I know I can ask for clarification, but It’s hard to find a balance between clarifying the business model and asking too many questions. 

For some industries, I have no idea what the key cost factors are, or how they can grow their revenue, so it can be hard to quickly think of sensible things to say, or even fully understand the client’s business model in a few minutes. There is only so much you can get from clarifying questions. Especially if the next question they ask you is “what are some key costs the client may have”, or “what revenue streams do they have”, I feel that I’m often completely guessing. 

Should I read through some information on key common industries and learn the cost and revenue drivers for those? Listen to podcasts in my spare time? Are there any good resources you would recommend? Or a very general framework you use when approaching a new industry? Trying to develop the business acumen they look for in interviews, and feeling stuck on how to best approach this. 

0
< 100
0
Be the first to answer!
Nobody has responded to this question yet.