What is commercial awareness and how can you demonstrate you’ve got it to potential employers?
What is commercial awareness?
Understanding commercial awareness is key when getting a job, it shows that you have researched the company, know the vision of the company and understand its industry in depth. Commercial awareness shows the company that you have an understanding of the wider environment in which your chosen company works, from its place in the market to how it interacts with its customers.
Why do employers want commercial awareness?
Employers want employees that are commercially aware as it shows them you are a motivated individual and that you have an understanding of the company, the potential industry issues it faces and most importantly what their aim is for the future and how you can potentially fit into that.
It shows the employer that you as a potential applicant have done your research and shown commitment and interest in joining the company. Being aware of the issues that the company are currently facing within the industry sector will give you more to talk about during an interview as well as improving your current knowledge in that industry.
How can you show you have commercial awareness?
You can show commercial awareness by reading up on background information about your chosen company. Visit their website and social media pages to get up to date news about the company. You are almost guaranteed to be asked ‘What do you know about us?’ at an interview so make sure you have done your research so you can answer this question.
How is it used in the world of work?
Commercial awareness is all about being knowledgeable about your industry. The more you know about your field, the role you will have and how you hope to add value to the business, the more likely you and your employer will succeed.
Every company strives to be better than their competitors and it stands to reason that the companies with the most motivated, knowledgeable and informed employees will normally outperform others.