Why You Need to Do Company Research
In the business world, corporations spend significant amounts of money on competitive intelligence. Competitive intelligence involves gathering information about the company's clients, competitors, and the industry in general. Large companies often maintain research departments, or libraries, where professional librarians do this work. Before a company goes out and tries to woo a new client, the research department will learn as much as it can about that client and the industry of which it is a part. This will help the company compete more effectively with the other companies that are pursuing the client. Take your cue from those companies. While you won't, of course, be able to hire a staff of researchers, you should spend some time and energy researching prospective employers.
There are several reasons you need to do company research as you prepare for a job interview. You want to be able to intelligently discuss the company and the industry on a job interview. Because you did the research, you will know what you are talking about. You will also be able to ask the interviewer meaningful questions about the company. For example, if your research tells you that the company is about to introduce a new product, you might ask if you will be involved in that product introduction (yes, ask the question as though you know they will hire you!).
One reason for doing company research is simply to demonstrate to the employer that you have taken the job interview seriously, just as you will take seriously any project you are assigned. Don't be afraid to show off what you learned through your research.
If you get a job offer, the information you gathered about the company while doing your research will help you decide whether you should accept it. Your research will help you learn about a company's financial health. You will feel comfortable accepting an offer from a company that is financially sound versus a company that is teetering on the edge of bankruptcy.
