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To succeed in a market or industry, organizations need to objectively analyze the underlying forces, attractiveness, and other success factors. \u00a0They often seek outsiders\u2019 assistance to bring fresh perspective, insights, and recommendations.\u00a0 The external contractors commence the engagement by carrying out a detailed industry analysis.<\/p>\n
The industry analysis facilitates in identifying potential opportunities, threats, and the current and future scenarios of the industry.\u00a0 The consultants use this tool to help their clients with valuable insights needed to acquire, maintain, and improve their position in the market.\u00a0 Industry analysis<\/a> is a critical part of strategic planning and it should be taken very seriously as it has a strong impact on the reputation of the consultants.<\/p>\n Some consultants, however, do not give due emphasis to industry analysis, fall short of putting the required efforts into the engagement, and believe that they can simply \u201cwing it\u201d based on their experience.\u00a0 They tend to coast on their past credentials and their years spent with a major consulting firm.\u00a0 Here is a list of a few common mistakes that these consultants make:<\/p>\n The consultants who do not put in much effort in undertaking the industry analysis should realize that making a summary of the reports available online could point to outdated and erroneous market analysis<\/a>, and that every analysis has a message that can\u2019t be interpreted by the audience on their own.\u00a0 It is the job of the consultant to interpret, communicate, and present it to the client in an organized manner.<\/p>\n This is where a structured approach to industry analysis<\/a> helps. \u00a0First and foremost, it entails knowing what is required from the engagement and finding the \u201cobjective function\u201d\u2014i.e., analyzing trends in order to uncover solutions to questions that are to be answered. \u00a0For instance, for a Corporate Strategy & Transformation<\/a> study, the objective function could be understanding the leading trend shaping the region that should be responded to.\u00a0 The consultants should then figure out whether the trend will impact the demand side or supply side.\u00a0 Next, a storyboard needs to be developed to present the trends and their impact in a professional manner.<\/p>\n The industry analysis<\/a> exercise is incomplete without desktop analysis and extensive internal and external stakeholder interviews (external interviews should be approved by the client upfront to avoid any hassle later on). \u00a0The elements that the consultants should investigate through the interviews and desktop research include the forces shaping the market, potential challenges, value chains, key drivers impacting the industry, suppliers, and competitors\u2019 strategies and tactics.<\/p>\n Some of the key takeaways from the industry analysis are:<\/p>\n Interested in knowing more about how to go about the Industry Analysis?\u00a0 You can learn more and download an editable PowerPoint on the Industry Analysis for Consultants<\/strong> here<\/u><\/a> on the Flevy documents marketplace<\/a>.<\/p>\n You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library<\/a>. FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:<\/p>\n “My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”<\/p>\n \u2013 Bill Branson, Founder at Strategic Business Architects<\/p>\n<\/blockquote>\n “As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”<\/p>\n \u2013 David Coloma, Consulting Area Manager at Cynertia Consulting<\/p>\n<\/blockquote>\n “As a small business owner, the resource material available from FlevyPro has proven to be invaluable. The ability to search for material on demand based our project events and client requirements was great for me and proved very beneficial to my clients. Importantly, being able to easily edit and tailor the material for specific purposes helped us to make presentations, knowledge sharing, and toolkit development, which formed part of the overall program collateral. While FlevyPro contains resource material that any consultancy, project or delivery firm must have, it is an essential part of a small firm or independent consultant’s toolbox.”<\/p>\n \u2013 Michael Duff, Managing Director at Change Strategy (UK)<\/p>\n<\/blockquote>\n “FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight \u2013 it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”<\/p>\n \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p>\n<\/blockquote>\n “Several times a month, I browse FlevyPro for presentations relevant to the job challenge I have (I am a consultant). When the subject requires it, I explore further and buy from the Flevy Marketplace. On all occasions, I read them, analyze them. I take the most relevant and applicable ideas for my work; and, of course, all this translates to my and my clients’ benefits.”<\/p>\n \u2013 Omar Hern\u00e1n Montes Parra, CEO at Quantum SFE<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":" To succeed in a market or industry, organizations need to objectively analyze the underlying forces, attractiveness, and other success factors. \u00a0They often seek outsiders\u2019 assistance to bring fresh perspective, insights, and recommendations.\u00a0 The external contractors commence the engagement by carrying out a detailed industry analysis. The industry analysis facilitates in identifying potential opportunities, threats, and… A Quick Look at the Structured Approach to Industry Analysis<\/span><\/a><\/p>\n","protected":false},"author":110,"featured_media":4279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[81],"tags":[1419,172,1421,1420],"class_list":["post-4276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy","tag-industry-analysis","tag-market-analysis","tag-market-drivers","tag-trend-analysis"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/4276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=4276"}],"version-history":[{"count":12,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/4276\/revisions"}],"predecessor-version":[{"id":7927,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/4276\/revisions\/7927"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/4279"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=4276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=4276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=4276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Incorrect Approach to Industry Analysis<\/strong><\/h2>\n
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Structured Approach to Industry Analysis<\/strong><\/h2>\n
![\"\"](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/Industry-Analysis-Approach-1024x768.png\")
<\/a><\/p>\nDeliverables<\/strong><\/h2>\n
Key Takeaways <\/strong><\/h2>\n
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Do You Find Value in This Framework?<\/h2>\n