Commercial awareness is about knowing what is going on in the world around you and developing an understanding of how it might affect a particular company or sector.
Employers want
Commercial awareness is crucial for employers because it ensures employees understand the broader business environment, including market trends, competition, and customer needs. This knowledge helps them make strategic decisions that drive profitability, innovation, and risk management. For you as university students, developing commercial awareness can make you more valuable to employers, aligning your work with company goals and enhancing your career prospects by enabling you to contribute meaningfully to a company's success in a competitive market.
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Statista is a great source of global market and consumer data. It includes statistics, reports, infographics, surveys, industry and market reports. Over 85,000 topics are covered, including media, business, politics, society, technology, education.
To build your commercial awareness, it's essential to invest time in thorough research. Begin by developing a solid understanding of the industries you're interested in and stay updated on political and economic events well before you apply for jobs. Here are some strategies to help you:
Stay Informed: Set up email alerts for specific industry terms and regularly read industry news online.
Leverage Social Media: Follow industry news and trends on social media platforms. Use these platforms to network with professionals in your desired field.
Attend Events: Participate in career fairs and employer presentations. Take advantage of these events to ask employees insightful questions about their companies.
Gain Practical Experience: Seek internships, volunteer opportunities, or part-time jobs to gain hands-on experience and deepen your commercial understanding.
Research Employers: When applying for a job, go beyond the company's 'About Us' page. Explore their social media profiles and review recent news articles about the company to gain a comprehensive view of their operations and culture.
Don't forget to make use of USW's Careers Service. They provide some great resources to enhance your skills, connect with others, and support your career success.
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