Commercial Awareness Demonstrate Your Understanding of the Business World

1. Commercial AwarenessDemonstrate Your Understanding of the Business World Guest Speaker: Eliot Kelly

2. Commercial Awareness Pt. 2 Guest Speaker: Eliot Kelly Postgraduate Student MSc International Tourism Management Work Experience – Front Office Manager (Village Hotels) V.I.P. Services Manager (Atlantis Resorts & Casino) Presented by Eliot Kelly Manchester Metropolitan University Department of Food and Tourism Management Slide 2

3. Commercial AwarenessDemonstrate Your Understanding of the Business World is a term that refers to a candidate's general knowledge of business , their business experiences (or work experience) and, specifically, their understanding of the industry which they are applying to join. It is a key competence for all city job applications. Review of Series 1 Commercial Awareness Slide 3

4. What is Commercial Awareness? • View situations from a commercial or business perspective • Thought or consideration for the business environment • Understanding business issues • What makes a business successful? • How does it fit into its market place? • Who are the customers / suppliers? • How does it make money? Eliot Kelly

5. Why Commercial Awareness? • This skill will significantly boost your chances for a successful job interview • Impress recruiters • Differentiate yourself from other candidates Eliot Kelly

6. Why is Commercial Awareness a sought-after quality? • Understand key functions & structure of an organisation more readily • Add value to a business by recognising, utilising and creating opportunities • Quickly become a valuable asset to a business by taking initiatives which are relevant to it and its success Eliot Kelly

7. How does Commercial Awareness help in the job interview process? • Seen as key skill which is desirable(but relatively scarce amongst graduates) • Positive differentiation from other candidates • Demonstrates potential value you can add to the business more readily • Improves discussion opportunities in an interview • Displays your interest in, and understanding of, the business Eliot Kelly

8. Ways to improve Commercial Awareness • Read the press / news / business sections • Understand financial information and news about a business • E.g. Marks & Spencer issue profit warning • What does that mean? • What does the CEO statement imply? • Look at company websites • What is the nature of the business? • How would you describe the business in your own words? Eliot Kelly

9. Ways to improve Commercial Awareness (contd.) • Play the “Investor” game • Imagine you were to consider investing money in a business • What is the main reason for this being a potentially good investment? • Profits? • Growth? • What are the risks and potential downside? Eliot Kelly

10. Exercise: The Investor Game • You have the opportunity to invest in a company you know • Which one would you choose? • Describe its business in one brief sentence • What are the top three reasons for your choice? • Identify risks for your investment Eliot Kelly

11. Take note: • To play the investor game, you ask questions about the business • You gain Commercial Awareness • Play the investor game as part of your preparation for a job interview • You will consider a significant investment – your time! • Note down your findings • Take note of any questions about the business Eliot Kelly

12. Ways to improve Commercial Awareness (contd.) • SWOT Analysis of a business Strengths Weaknesses Opportunities Threats Eliot Kelly

13. Commercial AwarenessSummary • Commercial Awareness is a valuable skill which will help fast-track your professional career • Commercial Awareness is about taking a view from the business perspective • Follow the news, play the investor game, carry out SWOT analysis and consider the supply chain Eliot Kelly

14. Questions? • Thank you for your interest and attendance • Commercial Awareness will help create an understanding of a business, and boost your confidence • Enjoy your head start! Eliot Kelly