Question

Knowing what you know now about how the various industries operate, when you proceed to the next steps in your career, either as an employee or as a business person, where will you concentrate on finding your place in the economy? Please provide some analysis of why you made this particular choice, using examples , and also please provide some choices you would not make, also using examples.

Answer 1

When proceeding the next steps in my career looking at the current economic conditions, I'd like to see my self as a revenue generator and not as a cost-generator.

Revenue generator - For example, a sales role that gets cash flowing into the company. They are the face of the company and needed by every company to keep generating more and more revenue because any company even in time of a crisis, will still need people who get revenue to the company and increase their market presence or visibility.

Cost generating roles would be the non-revenue generating people. It could be people working in the HR department or even the Production department. These departments generally act as cost centres and employees from these companies are the first to lose jobs in times of a crisis.

Also, I would like to work in the FMCG industry with a company producing essentials because these commodities of goods have inelastic demand and they will still be in demand in times of a crisis. For example, how the need for sanitizers has increased in the past few days/months.

I would definitely not want to work in any luxury-based company has this would the most sensitive sector to work in with goods with highly elastic demand. For example, people would not want to buy a car or diamonds or expensive bags in the time of a crisis.