50+ Sample Industry Analysis
What Is an Industry Analysis?
An industry analysis is a comprehensive study on a particular industry or sector. It is a structured analysis that seeks to establish a thorough understanding of an industry and all its different aspects.
According to a recent article by Yahoo!, the airline industry was among the hardest hit industries during the COVID-19 pandemic. Boeing reported a total net loss of $11.9 billion in 2020. Other sectors and industries that were negatively affected were restaurants, casinos, and cinemas among others.
Examples of Industries
Within the global economy, there are numerous industries that one can enter into. Looking for the right industry that matches your skills, however, is another thing altogether. The following examples below are just some major industries that continue to employ millions of workers around the world.
Food Service. Many people aspire to be a chef or restaurant owner. Going into the food service industry can be a fulfilling career for many. The industry is not merely fit for those with culinary skills, but anyone with a dedicated sense of service. Typically, food service employees can either be classified as front of the house or back of the house. The latter refers to kitchen duty and food preparation. While the former is in charge of the dining area and customer service. A lot of entrepreneurial individuals have even found their calling in the food service sector. For example, opening and operating your own restaurant is a dream many people have. The food service industry can help develop all kinds of skills such as patience, dedication, and a passion for excellence. It is important to note, however, that the food service or restaurant industry must be distinguished from the food production or supply sector. The latter is a whole other industry. Fashion. The fashion industry is appealing for a lot of reasons. Many people, especially young people, are particularly attracted to the glitz and glamor that the fashion industry tends to promote. Add in the lure of fame and fortune into the mix, and it is understandable why a lot of people have aspirations to enter into industry. But the fashion industry is more than just models and celebrities. Designers, stylists, and essentially any creative person can flourish in the industry. Those who work behind the scenes such as creative directors, production assistants, and stage managers are just as important as those in front of the camera as well. Mainstream media has a way of sensationalizing and glamorizing the fashion industry; but the truth is a lot of hard work and sacrifice goes into truly making a mark in fashion. Hospitality. Similar to the food and restaurant industry, the hospitality sector is also very much service-oriented. Hotels and similar establishments tend to focus on customer service and client satisfaction more than other industries. As an industry, the hospitality sector employs millions of people globally. From front desk officers to kitchen crew to general managers to housekeeping staff, there are dozens of roles and positions an individual can assume in the industry. A lot of suppliers and vendors also rely on hotels for their business. The hospitality industry requires a steady stream of supply including toiletries, food ingredients, and cleaning supplies. Manpower and human capital is also the main resource that the hospitality industry runs on. Real Estate. Real estate is widely considered a lucrative business. The sale and purchase of property has been a transaction that dates back centuries. Many who’ve engaged in this type of business transaction have seen fortune, wealth or even failure, depending on how they used and developed their property. The real estate sector also has various subcategories and divisions. Property development companies can put up commercial, residential or even industrial centers that cater to all types of clients. It is the kind of industry where different kinds of professionals might converge. Whether you are a salesman, human resource practitioner, architect, private contractor, marketing manager, or engineer, the real estate sector is a sizable employer.
Tips for Crafting an Industry Analysis
If you are tasked to draft an industry analysis, you need to have a clear goal in mind. You do not just conduct an analysis without understanding the purpose behind it. The following examples are some useful tips to keep in mind when writing a formal industry analysis.
Do your research. Any analytical study requires a significant amount of research. Whether it is a simple market study, competitive analysis or an industry analysis, you must invest the time and resources to do credible research. It might help to make an initial outline so you can establish a clear structure or format first. There can be many ways to conduct research for an industrial analysis. You can look at primary or secondary sources. What is important is that your sources are based on fact and evidence. Surveys and first-hand interviews are excellent forms of primary sources. For example, if you want to get a deeper understanding of customer behavior and market trends, a feedback or survey form may be a helpful tool. Look at the bigger picture. When crafting a comprehensive industry analysis, it helps to keep the bigger picture in mind. It is important to look at the broad implications of your study. A broad, bird’s eye view of your chosen industry can also help you evaluate it more objectively. For example, you can establish a framework in writing your analysis. The specific framework can be used as a lens to view the industry and its different facets. For instance, you can choose to focus on the socio-cultural, economical or even political aspect of an industry. What are the factors that affect and surround it? Looking at it through a particular lens can sometimes lead to surprising findings and profound realizations. Use the SWOT method. One popular and helpful method of conducting any analysis is using the SWOT approach. This comprehensive approach attempts to break down the various strengths, weaknesses, opportunities and threats related to a particular subject. In this case, a SWOT analysis can be done on your chosen industry. In order to better understand an industry, you need to look at all sides. Using the SWOT method is all-encompassing in a sense that it looks at polar opposites and tries to make sense of both sides. To illustrate, you are conducting an industry analysis of the real estate sector. You need to identify the different strengths and weaknesses the industry possesses. This may change over time, so you should always stay up-to-date with the current trends and market movements in the industry.
How to Create an Industry Analysis
To create an industry analysis, you need to do adequate and credible research. And if you are looking for reliable and editable templates, you can easily download any suitable template from the selection above. Simply choose a sample industry analysis template and follow the basic steps below.
Step 1: Executive Summary
The first section in a formal industry analysis is the executive summary. You have to treat your study like a formal paper or presentation. An executive summary or abstract of your analysis would help the reader significantly. If you can present your study in a condensed and straightforward way, it can help manage the reader’s expectations. A good executive summary should only include the main points and ideas. Keep it brief and straightforward. Note that you do not necessarily have to come up with this section first. Once you have gathered all your data and have done a sufficient analysis, then you can summarize it accordingly.
Step 2: Background Review of the Industry
This section is important because it will provide the context of your analysis. Before you start dissecting and analyzing, you have to describe the current state of the industry. Alternatively, you can also offer a bit of history on your chosen industry or sector. Your approach to writing a background study may vary; but what’s important is that you are able to give a clear backdrop or foundation for your analysis. It helps to keep your audience in mind. The reader should be able to transition smoothly into your industry analysis thanks to the background review you provided.
Step 3: Data Analysis
Once you have given a solid background, you can then proceed to the actual analysis. At this point, you should have already gathered and sifted through your data. As discussed in previous sections, your approach to analyzing can vary and depend on your needs and preferences. If you choose to use the SWOT method, you can create a matrix or table to better present and organize your information. Moreover, you can discuss the various factors that influence or affect your industry. Just be sure that your arguments and analysis are backed up by supporting evidence and credible sources.
Step 4: Findings and Recommendations
The last step in creating an industry analysis is making sense of your data analysis. The work should not just stop with an analysis. To culminate your study, there must be a call to action. This section is where you can discuss the next steps or what needs to be done moving forward. Keep your recommendations concrete, descriptive and realistic. You want to offer sound and practical suggestions, taking into account the findings you’ve gathered and researched.
What is an industry analysis?
An industry analysis is a comprehensive analysis or study that is meant to help professionals understand the ins and outs of a particular industry. It can be used as a tool in decision-making and strategic planning.
What are the 3 types of industry analysis?
According to the Corporate Finance Institute, the three common methods of industry analysis are Porter’s Five Forces, PEST analysis and SWOT analysis.
What do you write in an industry analysis?
A basic industry analysis can consist of various sections. It is important to establish a framework or approach first before proceeding to the actual analysis. Refer to the previous section for more detailed instructions on how to write an industry analysis.
An industry analysis can help your organization better understand the forces and factors that directly and indirectly affect it. Browse the broad selection of editable templates above, choose one that suits your needs and create your own industry analysis now!