Industries and Markets | Page 2

Business plans

Researching business intelligence for new ventures

District 3 library research seminar handout

When launching a new business, information about industries, markets or competitors can be invaluable. In this session, we will cover resources from the Internet as well as licensed market and industry intelligence databases available from Concordia University Library. This is a workshop adapted from the “Entrepreneurship”  course at the John Molson School of Business.

Learning objectiveS

  • Locate industry and market reports from the Internet and the Library
  • Understand how to use datasets from Statistics Canada (Census & Cansim) and other national agencies
  • Develop a healthy information diet

Proposed Course Outline

1. Where does information come from?
It is imperative to use both licensed (library) and free web sources to have a complete picture.
2. Know your industry
3. Using Google for business research (governments & trade associations)
4. Statistics Canada for entrepreneurs (including SimplyMaps)
5. Reading up on your idea & staying up to date with articles
  • Think about your business idea when searching, use a variety of keywords:
    • (1) industry (use NAICS, watch out for jargon)
    • (2) trade associations
    • (3) market leaders and major competitors
    • (4) other subject term like a business trend
  • News and articles from ProQuest Business Databases and EBSCO’s Business Source Complete.
  • Setup an RSS feeds from ProQuest, EBSCO and Google to automatically receive notifications
We will use the Business Research Portal:
http://www.concordia.ca/library/guides/business.html
And this handout:
http://www.concordia.ca/content/dam/library/docs/research-guides/management/JMSB-LibraryOrientation.pdf
(We can discuss adapting these to the District3 website)
Business plans Information literacy

Quick & dirty outline of an intro to business research

Here is a draft outline I just created for a professor teaching an entrepreneurship class for Fine Arts students. Caveat being that these students are not business majors, so we have to spend more time explaining why each resource is useful and how to incorporate these sources in their assignments. Also, the bit about copyright is because they are Fine Arts students and the professor wanted me to cover this as well.
–> Please make sure students bring their devices or borrow laptops from the circulation desk to LB-322 <–
->Total duration: 150 minutes, which leaves room for a 15 minute break <-
1. Basic business & industry information
(20 min)
– Browse NAICS codes related to Fine Arts, enable students to discover their codes by engaging them to state their line of business
– Show the IBIS World system and present a sample report (uses NAICS codes)
– Show the SME Benchmarking system and a sample report (uses NAICS codes)
ACTIVITY: have students retrieve the IBIS World & SME Benchmarking reports. Troubleshoot NAICS codes & interface issues.
(15 minutes)
2. Basic market information
(15 minutes)
– Passport GMID
– PMB
ACTIVITY: Can you identify one trend or statistic that can impact your project from either source?
(10 minutes)
3. Stats Can
(15 minutes)
– Census: know your neighbours!
– CANSIM: Household spending & more
– Mention SimplyMap but do not show it
ACTIVITY: What is the average household spending for your product? How do you define your market (geography, demographics, etc.)?
(10 minutes)
4. Articles (trends, major players…)
(20 minutes)
– ProQuest
– Business Source Complete
ACTIVITY: Locate one article (news, trade or academic) which relates to your project.
(15 minutes)
5. Copyright
(10 minutes)
– What does copyright mean for you?
– Using copyrighted content as part of your work
ACTIVITY: Read the terms of use of Facebook with the class. Engage in conversation with them about what this means. Focus on when they post their own content on FB & when they post content from others (without their consent). Orient the conversation to the distinction between professional work versus academic or personal projects (ethics, values, rules).
(20 minutes)
Industries and Markets Reference

My advice for business research

Here is a paragraph I sent to a student trying to locate business information:

And please remember my motto about research: Search well and use what you find. Seeking out a little tidbit of information may be (and usually is) a waste of time. Take an hour or two, compile interesting sources from smart searching, and use what you find.

I often get questions about finding very specific (and often unrealistic) bits of information from students. Searching for business information is where students confront theories they learn in classes to the real world, sometimes theories just don’t fit with the data that’s out there!

Montréal Reference

Quick economic industrial survey of Montréal

Here are sources for finding information about Montréal’s economy and industrial make-up. I refer to subscriptions at Concordia University where I work.

– Passport GMID from Euromonitor
This is a system we have under subscription at the Library. It now provides top line reports of major cities around the world, including Montreal. Please access the system via this link:
http://clues.concordia.ca/record=e1001087~S0
(click on the database name and provide your netname if asked)
After accepting the terms of use of the system, just type Montreal in the search box on the top-right corner of the page. You will get many reports, but you are looking for the “Montreal City Review” in particular.
Video on using Passport: http://youtu.be/Wpotf4vcJmE?list=PLaqfn26UOsX-OJGT_W_UTOWzvAA5Kb3tG

– Montréal en statistiques
This city of Montréal website provides various reports about the city:
http://ville.montreal.qc.ca/portal/page?_pageid=6897,67633583&_dad=portal&_schema=PORTAL
In addition to the various reports, themes and other data available therein, I noticed this very recent economic portrait of the city:
Profils économiques : un portrait à jour de la dynamique économique montréalaise
http://ville.montreal.qc.ca/portal/page?_pageid=6897,68131631&_dad=portal&_schema=PORTAL&id=10396&ret=/pls/portal/url/page/mtl_stats_fr/rep_nouvelles/coll_nouvelles
Looks very interesting.

– Montréal International
This is the international development agency for the city. There are a lot of high-level glossy reports and data on this site, but in particular their publications:
http://www.montrealinternational.com/publications/
(This agency is one of the few I recommend you build a long-term, low volume but high impact relationship with)

– MEIE, Québec Government
The Ministère de l’économie has a portal devoted to each administrative region of the province, this is the Montréal page:
http://www.economie.gouv.qc.ca/pages-regionales/montreal/
Make sure you click around in the “Portrait régional” box, which is located on the bottom left-hand section of the page. You get a one or two page report for each theme.
(This agency is one of the few I recommend you build a long-term, low volume but high impact relationship with)

– Conference Board of Canada
I am sorry to report that we do ** not ** have access to the Conference Board of Canada’s e-library, but I did want to mention that they provide detailed forecasting reports at the city level.

Business plans Information literacy Reference

Flowchart for researching a Company or an Industry

Stumbled on this flowchart from Jenny Mueller-Alexander at Arizona State University Libraries about researching a single company or an industry.

I like how the company process splits into private company and public company – which has a huge impact on the amount of information available. Remember that anything a company tells you is either to their benefit, either required my law (like disclosing financial statements when their equity is traded on public markets of capital like stock exchanges).

I’ve been meaning to adapt my similar research protocol for business students to distinguish between researching a business idea (entrepreneurship) that targets consumers versus other companies. This also has great bearing on how one researches the information for a business plan… more on that later…

Digital media & ecommerce

Example from CARD

This image is taken from the last printed version of CARD: Canadian Advertising Rates and Data. It presents the cost to advertise in various media outlets, this case is Maclean’s a popular news magazine mostly read in Ontario.

20130124-144053.jpg

Notice how you have various costs, from black & white, 1 color and 4 colors. Also, some other options such as free standing inserts (FSI) and classified ads. The readership of Maclean’s is the last thing showed, including total paid, complimentary and newsstand.

Digital media & ecommerce Gamification

Independent video games short bibliography

Here are short bibliographies generated from Library sources.

EBSCO’s Business Source Complete from peer-reviewed journals. The search query was simply for the terms “video games” industry. I picked the most interesting that touched upon “indie games” or labour issues for the past 5 years, 7 articles from about the first 40 hits.

Title: Under the radar: Industry entry by user entrepreneurs.
Authors: Haefliger, Stefan shaefliger@ethz.ch; Jäger, Peter pejaeger@ethz.ch; von Krogh, Georg gvkrogh@ethz.ch
Source: Research Policy; Nov2010, Vol. 39 Issue 9, p1198-1213, 16p

Title: User Communities and Social Software in the Video Game Industry.
Authors: Burger-Helmchen, Thierry, Cohendet, Patrick
Source: Long Range Planning; Oct2011, Vol. 44 Issue 5/6, p317-343, 27p

Title: The orchestrating firm: value creation in the video game industry.
Authors: Mikael Gidhagen; Oscar Persson Ridell; David Sörhammar
Source: Managing Service Quality; Jul2011, Vol. 21 Issue 4, p392-409, 18p

Title: Computer Hobbyists and the Gaming Industry in Finland.
Authors: Saarikoski, Petri1 petri.saarikoski@utu.fi; Suominen, Jaakko1 jaakko.suominen@utu.fi
Source: IEEE Annals of the History of Computing; Jul-Sep2009, Vol. 31 Issue 3, p20-33, 14p

Title: The business of playing games: players as developers and entrepreneurs.
Authors: Chazerand, Patrice1 patrice.chazerand@isfe.eu; Geeroms, Catherine1 catherine.geeroms@isfe.eu
Source: Digital Creativity; Sep2008, Vol. 19 Issue 3, p185-193, 9p, 1 Chart, 3 Graphs

Title: Work and Employment in Creative Industries: The Video Games Industry in Germany, Sweden and Poland.
Authors: Teipen, Christina1
Source: Economic & Industrial Democracy; Aug2008, Vol. 29 Issue

Title: Digital Consumer Networks and Producer–Consumer Collaboration: Innovation and Product Development in the Video Game Industry.
Authors: ARAKJI, REINA Y.1; LANG, KARL R.2,3,4
Source: Journal of Management Information Systems; Fall2007, Vol. 24 Issue 2, p195-219, 25p, 1 Diagram, 1 Chart, 1 Graph

Books from CLUES, Concordia University Catalogue, search on “Cultural Economy”:

>Creativity, innovation and the cultural economy [electronic resource] / edited by Andy C. Pratt and Paul Jeffcutt : Creativity, innovation and the cultural economy [electronic resource] / edited by Andy C. Pratt and Paul Jeffcutt

The cultural economy edited by Helmut K. Anheier, Yudhishthir Raj Isar ; Annie Paul, associate editor ; Stuart Cunningham, guest editor : The cultural economy / edited by Helmut K. Anheier, Yudhishthir Raj Isar ; Annie Paul, associate editor ; Stuart Cunningham, guest editor

The Blackwell cultural economy reader edited by Ash Amin and Nigel Thrift : The Blackwell cultural economy reader / edited by Ash Amin and Nigel Thrift