Researching a company for employment after finding that they are looking for someone with your skills, should begin with knowing about the products or services of the company, something about their history and who their major competitors are. You should also know whether the company is success-driven and progressive, and if they are likely to offer the challenges, environment, and opportunities that are right for you. Finally, you should know what they expect from you and what you need to know to be successful in the new company.
Normally, good company research goes through three phases: 1. getting basic information, 2. finding out the reputation and solvency of the firm, and 3. discovering the culture and leadership style of the organization. Culture and leadership is normally found when good questions are developed from what you discovered in phase 1 and 2.
Basic information should reveal:
- the size of the company (number of employees and annual revenue),
- the type business (industry) they are in,
- the number of years they have been in business.
Basic information is located in directory listings such as Dun & Bradstreet, Standard & Poor’s, Reference USA, Manta or Hoovers for example. Directories can be found on the Internet or in the public library.
Hoovers gives free information on public and larger private companies at http://www.hoovers.com/, as does Standard & Poor’s at http://www.spglobal.com/, while Corp Tech (http://www.corptech.com/) has information on technology companies and Thomas Net (http://www.thomasnet.com/) provides details on manufacturers.
Most of the time your local library has good print directory resources, or you can find information on larger companies online at stock brokerage companies such as Schwab (www.schwab.com), Smith Barney (www.smithbarney.com), Merrill Lynch (www.ml.com), Edward Jones (www.edwardjones.com) and others. If the firm is a public company you can discover important information from the U.S. Securities and Exchange (SEC) web site at http://edgar.sec.gov/cgi-bin/srch-edgar.
Private companies require more effort. Start with the area library nearest the company’s headquarters to see what is published and how you can access it. Dun & Bradstreet is the largest directory of private company information available, so look for their directory in your best business library or purchase a report online at http://www.dnb.com/. Keep in mind that Dun & Bradstreet obtains their information from the company itself and after being added to the directory, it may take time before the company's listing is verified from objective sources. Also note that there is always some information available on every legitimate company, regardless of the size.
If the company is incorporated check the state corporation records. If you do not have the Internet address, do a simple search engine query or visit the National Association of Secretaries of State to locate the state corporation records: www.nass.org/sos/sos.html. Corporation records will tell you basic information such as date of incorporation and principal officers. If the company engages in a profession that is regulated by the state government such as health or food-related, legal, accounting, etc., find state regulatory sites at http://www.searchsystems.net/. Also look for county registrations such as business licenses to find records that may provide additional information (look on the county web site or call the applicable county office).
For reputation and solvency, start with general research using http://www.google.com/ and http://www.bing.com/ and meta search engines like http://www.ixquick.com/, http://www.icerocket.com/ and http://www.beaucoup.com/. Remember to use the advanced search features of the search engine and alter your search phrase to find the right terminology that will lead you to important links. Also search social media sites and group pages to see what is reported (see the search engines recommended on the right hand column here).
Another often overlooked web site that finds information on most companies as well as non-profits is the Better Business Bureau web site at http://www.bbb.org/. And for detailed information on non-profits use http://www.guidestar.org/, which requires registration but is free for basic information.
Next, start searching news reports and industry publications to discover media coverage on the company, what their marketplace looks like and significant competitors. Pay attention to legal or regulatory issues that surface. Begin with the news links on
http://newslink.org/menu.html and also view http://www.yahoo.com/, going to Business & Economy, then to News and Media, then under categories select Magazines, then select Trade Magazines. Magazines and newspaper links can be found at the Internet Public Library (http://www.ipl.org/div/news/) and Online Newspapers.com (http://www.onlinenewspapers.com/). Also see http://www.abyzneslinks.com/. For scholarly sources visit http://infomine.ucr.edu/. For companies that are outside the United States and do not have a significant presence in the U.S., you may contact us for free resources (info@e-clarity.us) as this is outside the scope of this article.
Always check with your local library to see what other resources are available and what you can access on their web site. Often the library web site allows you to access newspapers, magazine and journals that are free using your library card. Make sure to find out if the library has biographical and genealogical directories for key persons that you may be interviewing with, and be sure to ask the reference librarian for help in finding out about the company and it’s principals.
When looking for biographical information, find out if the target company web site may feature a bio on your subject. Or can the person be found on search engines using variations of his or her name? Often information about people can be found in magazines or newspapers in their local area. Another good resource for both companies and people is the Groups tab in Google, and be sure to see my blog entry on this site for detailed searching on people.
For those who want to learn more, there are two outstanding tutorials for researching companies, first from expert business researcher Deb Flanagin www.learnwebskills.com/company/index.html, next the Law Librarian’s Exchange www.llrx.com/features/co_research.htm.
The last phase of the research requires good questions derived from the information you uncovered. By steering the questions to what the organization’s environment is, you can find out what will drive the company in the years to come and what strategy they plan to implement for their growth, product development and future prospects.
The following are some questions to get you thinking about what the right questions are for you to ask of them:
- What are the needs of the position in the next year?
- How does the position's department support the company’s main mission?
- Which employee management style is encouraged by the organization, i.e. reason, rewards, friendliness, coercion, sanctions, etc?
- What are the company's main strengths and weaknesses compared to their competitors?
- What is the particular strength of the company’s products or services and why do customers buy?
- What are the main forces that you see shaping the company in the next five years?
- What are the company’s corporate mission and core values, and what performance-based measurements are taken to determine if the company is achieving them?
- Is the company being investigated by any regulatory agency; have they been investigated in the past, or are they subject to any possible investigative procedure in the future?
- Has the company ever had to re-state their financial earnings?
- What type of background investigation is conducted on the financial officers of the company?
- How many officers of the company sit on the Board of Directors? How many major shareholders who are not officers sit on the board?
Asking open-ended questions will help you find out if the company is right for you and will have the added benefit of presenting you as a sophisticated and highly informed candidate.
Of course, we recommend hiring a professional information company to do high-level research on the company you may be accepting a position with. The research results will surpass anything you can find on the free Internet, and your career should be worth the investment. Please contact us at info@e-clarity.us or visit our web site at http://www.e-clarity.us/.
For more information on researching the most difficult of companies (start ups, small companies and troubled companies), send us an email with your questions (info@e-clarity.us), call us or contact your local reference librarian. For information on the basics of competitive intelligence research, see our PDF-format paper at http://www.e-clarity.us/pub/Competitive_Intelligence.pdf.
Good luck!
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