After you have done the hard work of identifying the industry you should work in, your next assignment is to identify the right company to join. With the help of the internet and Google at your right side, finding information about which companies you should join, could never have been easier. Platforms like Glassdoor and LinkedIn can give you a glimpse into how it is like to work for a particular company. Read up and find the best fit for you.
While it is good to listen to other people’s feedback and reviews, the best advice we can give you is to weigh your options and decide what would be the best choice for yourself. Another aspect of choosing the right company for you outside of culture and product is profitability and growth.
Working for a company that has high progression of growth and profit will mean more career development and promotion opportunities for you. This will influence your earning and ultimately again influence your quality of life. You will also learn much more at a growing company than at one where stagnation is the current mood. You will be asked in your next interview why you chose the company you are currently working for.
|Company Characteristic||Attractive companies||Unattractive Companies|
|Market size & growth rate vs competitors||Largest market share in the industry. Twice as large as the next largest competitor.||Small company. Many larger competitors.|
|Market share trend||Growing. Winning new customers and increasing business levels with existing customers.||Declining. Losing customers and not winning new ones. “Racing” to compete.|
|Competitive advantage||Leading the market and has the best offer in comparison to competitors.||Little or no advantage over competitors’ products or services. Competitors have advantages that are important to our customers.|
|Brand name and Recognition||Strong brand image and reputation. Clearly viewed as the market leader and a “low-risk” purchase by customers (e.g., Nike, Starbucks, Harley-Davidson, Toyota).||Little brand recognition. The company does not have a strong or positive image in the market place. Poor reputation for quality.|
|Profit / Sales/ Revenue||Profit margins are high and growing. All or most companies in the industry are profitable.||Many companies in the industry are unprofitable. Margins are low and declining. (e.g., Airline industry).|
|Management strengths||Experienced. Successful track record in the industry. Innovation. Proactive. Create a team environment with dedicated, enthusiastic, customer-oriented employees. Strategic focus.||Limited industry experience. Weak or mixed record of performance. Many employees are unhappy and choose to leave the company. Frequent management turnover. Reactive approach.|
Technology and innovation
|Technology leader. Track record of successful innovation in products, technology and markets.||Follower. Waits for competitors to take the lead then tries to catch up. Usually produces an inferior imitation.|
|Company strengths vs market needs||Company strength (e.g., product) is a very important factor to the market. Customers need “what the company is good at”.||The company has little or no competitive advantage in meeting any significant market need.|
- Make a list of 3 industries that excite you.
- Which company/companies catches your attention and mind?
- What do you see yourself doing or contributing to at these companies?