Dear Tutor MJ
Thanks for all the great tips on your website. They truly are helpful.
I just wanted to ask you about the industry examples that go into the case study preparation. How do I use this at the exams? And can I use real-life companies instead of the pre-seen?
Thank you for your kind words.
With regards the industry analysis, it is research on the industry that the pre-seen company is in. It looks at other (real life) players in the market. It identifies issues, strengths and opportunities these companies have faced and how they overcame or dealt with them.
You can use an industry analysis at the exam by drawing comparisons between the pre-seen company and real life situation to help you demonstrate or explain a point.
For example, if you need to explain how a diversification strategy can help an entity survive changes in the market and would like to use PepsiCo’s decision to diversify its product portfolio as comparison, you can say:
“We, at Company XXXX, should be mindful about the changes in the habits and preferences of our target market. We should adjust our strategy by listening to our customers and maximising these opportunities. Currently, consumers are becoming more health-conscious and are calling on companies to offer healthier alternatives. We could follow the example of PepsiCo, one of the biggest brands in the world. PepsiCo diversified its portfolio by developing low-calorie and no-sugar drinks, thereby helping it remain relevant despite changing consumer tastes. PepsiCo reported US$63.5 billion in revenues for the year ended 2017, a 1.2% increase from the previous year. We could achieve a similar result.”
See how much more “meat” this gives your argument?
Of course, sometimes it’s hard to prepare industry examples if you don’t know what type of questions you’ll be getting at the exams. And you can’t spend all your time studying for industry examples, hoping a particular situation will appear at the exams. That’s just not the way to go. The caveat is to use them only when they are relevant.
Remember, industry examples are not mandatory. You do not need them to pass. They are just good to have if you have them. But if not, then so be it.
I hope this has helped you understand how industry examples can enhance your answer. Good luck with your preparation!