Identify three trends in your industry
Imagine that you recently began working in a department that supports your company’s strategic planning for growth in the industry. Your department head has asked you to do research from a newcomer’s perspective to inform future marketing directions for the company. He has asked you to write a detailed memo that identifies the three top trends in the industry. If he likes your work on this initial research, he will ask you to write a position paper on the most important issue related to these trends. (The position paper will be your assignment for project 3.) He is hoping to use your research to prepare your department to launch a new strategic plan.
This is your first real task for your new job, and you are excited and a little nervous about the assignment. You think you have a sense of the industry but know you need to do more research to be accurate in your analysis. The ability to spot trends in your industry is an important skill, and your boss wants to spend energy and capital on new growth areas, products, and services. Writing for Entrepreneur, Spader (2007) offers ideas about how to Spot the Latest Trends.
As you begin your research, you will need to register for CareerQuest, review the available resources, and use Vault for some of your industry research. Please review this short video about the many services under CareerQuest. Career Insider by Vault is a set of career research tools. You can find the Vault tools under Tools>Career Tool Box>Career Search Tools. Career Search Tools should be the box in the lower right corner. While this assignment asks you to use the resource called Vault, the graded discussion in week 5 will ask you to discuss other CareerQuest resources you found helpful or interesting.
Your assignment is to produce a well-researched and properly cited memo of approximately 500 words (about two pages in double-spaced Times New Roman font) in which you identify three trends in your industry and discuss each one briefly. You are to provide citations for at least THREE SOURCES. These sources should be a mix of journal articles from the UMUC library, information from Vault, and other pertinent and valid websites or online materials pertaining to your trends. Be sure to cite any words or ideas from your sources in correct APA format, and include a properly formatted list of references. For an example, please refer to the APA formatted template for project 2.
Check out these short videos from UMUC’s Library:
- How to set up your paper in APA style: https://libguides.umuc.edu/apa-document-formatting
- How to format a reference list in APA format: https://libguides.umuc.edu/apa-references-list-formatting
Please review these helpful resources from UMUC’s Effective Writing Center (EWC):
- Good strategies for thinking about assignments and preparing to write.
- Some good information from the EWC writing guide about the process of writing.
- Our own David Taylor with his video on writing the 5 paragraph essay.
Submit your full 500-word memo with a title page, citations, and at least three references in APA format
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