When discussing business in general, interviewers are often looking for your ability to articulate your understanding of real-world business operations, strategies, trends, and challenges, rather than academic theories or models. Here are a few tips on how you can approach such discussions:
Talk about industry trends and market forces: Show that you understand the key factors driving business performance in different industries. These could include technological changes, regulatory shifts, consumer behavior, global economic trends, and so forth.
Discuss real business examples and case studies: When discussing strategies or concepts, try to use real examples from companies you've read about or worked with. This not only demonstrates your business acumen but also your interest and engagement in the business world.
Highlight your understanding of different business functions: Show that you understand the interplay between different aspects of a business, such as marketing, finance, operations, and human resources, and how they contribute to overall business success.
Discuss strategic and operational challenges: Demonstrate your ability to understand the kinds of challenges that businesses face, whether it's competition, innovation, or managing growth. Talk about strategies for overcoming these challenges.
Leverage your personal experiences: If you've worked before, use examples from your work to demonstrate your points. If not, use examples from internships, academic projects, or even extracurricular activities where you've had to think about organizational or business issues.
Remember, every interviewer is different, and it's essential to be adaptable. Listen carefully to their questions and responses to gauge what they're looking for, and don't hesitate to ask for clarification if you're unsure.
Best of luck with your interviews!