What are your top tips for developing commercial awareness as a foreigner?

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  • December 15, 2021 at 11:10 am #10781
    Alinakazmi
    Moderator

    Hi Watson’s Daily 😀

    What tips would you give a foreigner living in the UK on how to improve their commercial awareness? Furthermore, are there any price friendly websites (apart from Watson’s Daily, of course) that are good to improve commercial awareness, as I know that you recommend FT which is really good but is also expensive.

    December 15, 2021 at 11:14 am #10782
    Haamsaaveni (Hamsi) Kumar
    Moderator

    Yeah, this is such a relevant question for me as I am not British and I am constantly learning about all kinds of British companies that I have not heard of before such as GAIL’s Bakery. I think one tip is to just focus on one industry at a time and slowly build your awareness based on that like retail. I also think just observing shops on the street while commuting to the office or school (which is what I do) and then googling about them is also helpful.

    December 15, 2021 at 5:05 pm #10783
    Ines Pinheiro
    Moderator

    Having grown up on a different continent, I feel very identified with this question too. I think developing some sort of historical commercial awareness is key in order to contextualise what’s happening around us. Although sometimes it can be hard to know how far back one should go in terms of historical background. For example, how much should I know about the LIBOR scandal and 2008 crisis? (I am still figuring that out, any tips would be highly appreciated).

    In terms of other websites, I use Watson’s Daily as my starting point and then try to reinforce my understanding of key topics by googling the headlines and reading free newspapers such as The Guardian. I also suggest you listen to the Economist podcast, it’s free, and they usually discuss their most relevant articles.

    December 15, 2021 at 10:22 pm #10789
    Peter Watson
    Keymaster

    Of all the newspapers I read, I would say that the best “normal” newspaper is the Daily Telegraph in terms of business news. The added benefit of this newspaper is that every now and again they do a “Fantasy Fund Manager” game where you can actually win cash prizes for stock picking. It’s actually a really good way of concentrating your mind when reading the news. They often do a subscription promotion when the competition starts as well 👍
    Remember also, though, that if you are at uni, most places have a FREE subscription to the FT. Definitely take advantage of this! As you said, it is an expensive newspaper so if you are going to read it you might as well not pay for it!

    December 15, 2021 at 10:24 pm #10790
    Peter Watson
    Keymaster

    Another way of improving your commercial awareness is to test yourself constantly. While walking along the high street, think about who owns what shop/restaurant/pub etc. Try to break everything down – wikipedia’s great to get this kind of information while you are out and about. You can do this breakdown with anything.

    December 15, 2021 at 10:25 pm #10791
    Peter Watson
    Keymaster

    Those are great ideas, Ines!

    December 15, 2021 at 10:27 pm #10792
    Peter Watson
    Keymaster

    Don’t forget the joys of wikipedia, Hamsi! That is always on your phone and is generally pretty good at being up-to-date 👍

    December 18, 2021 at 11:58 am #10830
    Ines Pinheiro
    Moderator

    Thanks for that Peter, I just checked The Telegraph and found a £1 for 3 months sale!

    December 22, 2021 at 6:52 pm #10869
    Alinakazmi
    Moderator

    Such amazing tips! I just purchased the introductory offer for The Telegraph too!

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