This popular interview question can come in many guises. You may be asked, “what is your take with regards to the current trends in our industry?” or “what is your view of the current hot topics in this industry?”.
The aims of these related questions is to quickly check the level of research and preparation you have conducted prior to your interview. It also helps potential employers discern whether or not you are truly serious and committed to fulfilling the requirements of the advertised role. A well prepared candidate that knows the in’s and out of the said industry is a very solid indicator of this.
A potential answer could go something like “automation is really taking off in the ABC industry. A recent survey by XYZ research found that if the current rate of automation is to continue, by 2018, 50% of this industry will be fully automated. This is a staggering prediction and it poses many challenges. One of the main challenges is to keep abreast with the latest developments in automation in order to ensure our competitors do not gain competitive advantage over us by having a lower cost base. Combined with this we need to ensure that our level of after sales and customer care is maintained at its current high level. It’s a real balancing act but one which I find enthralling. “
You could also talk about the key players in the industry, growth projections for the industry or legislation coming down the line which will hinder or provide opportunities for the company. The material is endless. However thorough research, allows you to distinguish what the current hot topics in the industry are and to form an opinion on these topics. If there are no obvious hot topics, Porters 5 competitive forces are a good guide in conducting any industry analysis as it helps determine the level of competition within an industry and helps in developing a strategy to maximise opportunities within that industry.
The sample answer above shows to a potential employer that you have conducted comprehensive research and you are able to substantiate your answer through industry survey results, all of which will go a long way to impressing a potential employer and eventually landing your dream job.
