EYP Assignment #3: Module 2.3

Module 2.3 gives you a good idea about how to start networking and identifying resources to support you in learning about the industry or industries you are interested in. In his video in this modules, James Cascone talks about the fact that focusing and building your expertise in an industry leads to success. He suggests focusing in three ways:

1. Spend time in the industry to get a broad perspective of that industry.

2. Network.

3. Spend time executing the work.

In many ways, his advice will be most useful to you when you are looking for your first job in an industry and begin working in that industry. But you can start gaining this industry expertise now, while you are a student at CPP.

1. Spend time in the industry to get a broad perspective of that industry.

Professional & Industry Organizations. Every industry has professional and industry organizations.

1. If you think you might be interested in working in a specific industry, spend some time on the internet identifying those organizations, look at those organizations’ websites and find out if there are local organizations that have meetings you can attend.

2. Identify contacts in those organizations and get in touch with them. Ask if you can come to interview them about their industry, company and work. (Consider doing this as a class project for some of your courses!)

3. Some of these organizations also have opportunities for students or student memberships. Check those out and take advantage of them, if they are available.

4. When you attend meetings of the local organizations or interview people in that industry, ask them these useful networking questions.

a. What they would recommend that you do now–as a student–to develop knowledge of the industry and the types of opportunities there might be for you in that industry.

b. If their industry or individual businesses have any special opportunities for students, like internships, scholarships or mentorships.

Companies in the Industry. Mr. Cascone also talks about the different types of organizations within an industry. Every industry has 3 to 5 major “players” (or industry leaders) in that industry. For example, in the internet social media “industry,” the major players might be Google, Apple and Facebook.

There are also many smaller companies that are “players” in that industry. You can probably think of some of the smaller social media organizations that are successful because they are focused on specific interest groups.

Mr. Cascone talks about companies like the one he works for: consulting firms or accounting firms. Those organizations provide specialized support and analysis to clients in many industries, as he describes in his video. In fact, many people who have just earned an MBA hope to begin their professional careers by working in one of these large consulting or accounting firms because they have opportunities to work with several companies in an industry and to develop expertise in an industry very quickly.

There could be several consulting and accounting firms that specialize in the industry you are interested in. Look for them and learn more about them.

While you are doing your homework, check out companies that fall into each of these categories in the industry you are interested in (major players, smaller successful or innovative companies, consulting firms and accounting firms). Learn how working for one of the major players in an industry compares to working for one of the smaller organizations in that industry compares to working for a major accounting or consulting firm.

It is not too early to begin thinking about the kind of company you would like to work for and the kind of corporate culture where you will be most comfortable.

2. Network.

Making contact with professional and industrial organizations in the industry you are interested in is, of course, networking. If you attend meetings of these organizations and become involved in them, you will learn more about the industry while meeting people who work in your “target” industry.

Identifying key companies in the industry you are interested in and making contacts in those companies can also be part of your networking while you are a student. The first step is to identify companies that you think you might be interested in. Be sure to include the smaller players and consulting or accounting firms that have particular expertise in your industry as well as the major players.

Learn enough about the industry, its issues and the companies you have identified so you can have an intelligent conversation with someone from that company about their industry and their specific job in that industry.

Then identify ways to meet people from those companies. CPP has many career events throughout the year. Check the list of companies that will participate and see if any of your “target” companies are coming. If so, be sure to attend and talk to people from those organizations.

Identify people within the companies you are interested in and write them a letter explaining who you are and that you would like a chance to chat with them about their industry and their work. Then follow up by contacting them directly by phone or email requesting an interview.

3. Spend Time Executing the Work.

You need to think a little harder about how you will get this kind of hands-on experience in the industry you are interested in. You might locate internship opportunities or do hand-on class projects for classes here at CPP. Sometimes companies have part-time or student jobs or hire students for special projects. If you have networked into companies you are interested in, you will have opportunities to find out about these situations.

Assignment

(5510 Management of Companies and Enterprises) Select an industry you are interested in learning more about as a potential career. Then start a “deep dive” to begin learning about that industry by identifying how you are going to acquire expertise (or focus) in that industry now, while you are a student at CPP.

1. Spend time in the industry to get a broad perspective of that industry.

2. Network.

3. Spend time executing the work.

For purposes of this assignment, you need to be specific. It is not enough to say “I am going to attend career events at CPP.”

If you want a list of industries, see the Handout industrycode x.

For “Spend time in the industry to get a broad perspective of that industry”: Do a google or databsse search (or both) and identify the professional and industrial organizations in your industry. Then look for local organizations in your industry and local chapters of the national organizations. List them, summarize any information you were able to find about them and how to contact them.

Describe how you plan to reach out to those organizations.

Identify and list the major businesses (or business leaders) organizations in your industry, some of the successful smaller organizations and the consulting and accounting firms that have some expertise in that industry.

For “Network”: Identify how you will meet people in the industry you have chosen. Again, be as specific as possible. You can be as specific as saying something like: The industry organization for X industry meets the first Monday of every month at (location). I plan to attend their November meeting on the topic of (whatever).

Remember, you may already know people who work in that industry. Every industry has companies that work with them to provide goods and services. You might not know anyone who works in a specific company, but you might know someone who knows someone in a company you are interested in or who has other connections to the companies you are interested in.

“Spend time executing the work” is harder at this stage of your life and education. Think about it. You might consider doing a little preliminary spade work to find out about internships or other opportunities for students at target companies in your industry. Or contacting someone in the professional or industrial organization to find out what support they provide to students. Do the best you can on this one!