February 2007 Tip: A Helpful Acronym
February 2007 Tip: A Helpful Acronym
When we are conducting a research meeting or interview, we can sometimes go completely blank. We just can't seem to think of an appropriate question to ask. If this happens to you, don't worry. It happens to most of us at one time or another. Here's an acronym that might come in handy when you are in this position: POSTI
Let's look at each of these letters and what they stand for:
P - Profile - who the company is today: products and/or services, ownership, financial performance, locations, customers, competitors, competitive advantage, mission statement, buzzwords/acronyms...
O - Objectives - what they are trying to accomplish: goals, vision, specific business objectives (revenue, margins, growth, market share, customer satisfaction), key metrics, quality...
S - Strategies - how they will accomplish their objectives: acquisitions, divestitures, organizational changes, process re-engineering, hiring, training and development, technology investments...
T - Trends - what's happening in their marketplace/industry: globalization, consolidation of competitors and suppliers, emergence of non-traditional competitors, economic challenges, exchange rates...
I - Issues - the challenges that could keep them from accomplishing their objectives: company culture, internal pressure, competitive threats, resources, regulatory environment, customer perceptions...
The next time you find yourself stumped in a research meeting and unable to think of an appropriate question to ask, think about this acronym and what it stands for. It should lead you to many more questions that can help you keep the interview rolling.
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