Must Haves in an Industry Analysis

As I have stated elsewhere in other blogs and articles, I believe that research is a critical component of good business and decision-making. Indeed, a business plan is worthless without solid research to back up statements and commentary on markets and the industry in which you operate. Furthermore, it is difficult to imagine strategy formulation without an understanding of your industry. Here’s a further thought: What industry are you in? I leave this question with you at this time!We all bandy around the term ‘industry analysis’, but what is it, and what should a good industry analysis report contain?Industry AnalysisQuestions answered by an industry analysis include:- What are the industry dominant economic traits?- What competitive forces are at work in the industry and how strong are they?- What are the forces of change in the industry and what impact will they have?- Which companies are in the strongest/weakest competitive position?- What key factors will determine success or failure?- How attractive is the industry in terms of its prospects for above average profitability?Industry Analysis OutlineHaving identified the questions which should be answered by an industry analysis, the following list provides an outline of the report:- Introductiono Descriptiono Segmentso Caveats- Socio-Economico Relevant governmental or environmental factorso Economic indicators relevant for the industry- Porter’s Five Forceso Threat of new entrants- Economies of scale- Working capital requirements- Proprietary product differences- Absolute cost advantages- Brand identity- Access to distribution- Expected retaliationo Suppliers- Supplier concentration- Presence of substitute inputs- Differentiation of inputs- Importance of volume to supplier- Impact of inputs on cost or differentiation- Threat of forward or backward integration- Access to capital- Access to labouro Buyers- Buyer concentration versus industry concentration- Buyer switching costs- Buyer information- Threat of backward integration- Pull through (use of intermediaries)- Brand identity of buyers- Price sensitivity- Price to total purchaseso Substitute products- Relative price/performance relationship of substitutes- Buyer propensity to substituteo Rivalry- Degree of concentration and balance among competitors- Diversity among competitors- Industry growth rate (past and projected)- Fixed costs/value added- Intermittent overcapacity- Product differentiation- Growth of foreign competition- Corporate stakes- Exit barriers- Conclusiono Critical success factorso Prognosis – the assessment of the future for this industry- Bibliography- Appendiceso Industry ratioso Other relevant indiceso Other relevant dataClearly, not all these sections are relevant for all industries, but it does give a broad outline of the likely contents.

Did You Get Your Industrial Disease Claim?

If you are working in an industry then you are prone to some problems that can affect your health. These could be some diseases which can make you ill. Especially those people who are working in industries in which some kinds of chemicals are used or any other substance is used that could have its impact on someone’s health are more prone to diseases.When the workers of the industry become ill because of the chemicals or fumes which are used in the industry they can file industrial disease claims. These claims can provide relaxation to the victims and their families. Excessive exposure to the harmful chemicals or excess of noise at work place may cause health problems in work. Some diseases may also lead to physical disability in the victim. If you are working in a construction company then you are prone to Asbestos Disease. These are the occupational diseases which gives rise to the industrial claims. It also includes all the injuries happen at work place.The common diseases are the lung diseases and cardiac diseases. If you are experiencing any health problem at your work place then you are eligible to file a claim for your health problem. You may get all the benefit that you deserve after rendering your services and the hard work for the industry.Common diseases of an industrial work place are asthma, chronic diseases, deafness etc. Every industry has its own benefit plan. They follow this plan in order to give compensation to the sufferer of their industry.The amount of claim that will be provided is decided keeping in view how severe the disease is. The severity of the disease is assessed by the doctor according to that the compensation amount is given to the victim. In certain diseases payment is made on hundred percent bases. The age factor of the worker is also considered while calculating the amount of claim to be provided.The amount of claim is transferred to the workers account which makes it more secure and reliable. Further, if you are getting any other benefit with your income that will also be considered during the compensation. You can file a claim in a regional industrial benefit centre that can help you in getting the claim. You can also apply online to get your compensation.There are some laws as well which have been made to help those people who develop any physical disability or health problem due to the contact with some harmful elements at work place. Some disease caught at work place could be life threatening as well. Industrial disease claims are the efficient way to get the amount reimbursed and get the benefit for your health problems; after all, employer has to take care of his employees.Exposure to excessive noise, heat, vibrations, dust, chemicals and fumes can have serious impact on the workers health. Some people have a perception in their minds that only large scale industries or mining industries can provide you industrial claims but it is not like that. If a person is working in a workplace in which he gets an exposure to hazardous substances which can lead to onset of diseases he can claim the benefit. The workers should be aware of their rights and benefits.