“…knowledge of how businesses make money, what customers want, and what problems there are in pertiular busnesses.”

“An understanding of how industries and businesses work. It’s about knowing what’s going on in the world and analysing the way it might impact on your chosen secctor and company”.

“Where you think you see the industry going in 3 years?”

“Tell us something that you’ve read about recently that inspires you.”

The elements if Commercial Awareness

• Understand the business
• the marketplace
• competitor
• Anticipate change
• Aware of how your own performance impacts on the business.

Tools used to assess Commercial Viability

Swot Analysis and Pestel Analysis

Organisations today need to:

• know their customers and buyigng behaviours
• competitors and market trends