How to answer "What do you think is the biggest opportunity facing our industry today?" (with sample answers)

Why Employers Ask This

One of the most common job interview questions is “What do you think is the biggest opportunity facing our industry today?” Employers ask this question to gauge your understanding of the industry. The question also reveals your critical thinking skills, how up-to-date you are on industry news, trends, and future predictions, your willingness to conduct industry research, and your overall attitude towards the industry.

The answer to this question tells employers whether you know the industry well enough to identify opportunities, how well you can analyze data and trends, and whether you are a visionary who can identify and capitalize on market trends that others might miss. Employers want to know if you are motivated enough to pay attention to opportunities for advancement or growth in the industry.

How to Answer the Question

The best way to answer the “What do you think is the biggest opportunity facing our industry today?” question is to demonstrate your knowledge of the industry and market trends. Here is a three-step process to help you answer this question:

Step 1: Research the Company and the Industry: Before you prepare for the interview, research the company and the industry. Researching the industry will help you understand emerging trends and challenges that the industry faces. Check out industry reports, trade publications, and news articles relevant to the industry. Try to identify opportunities, growth areas, and unmet needs. Step 2: Identify the Biggest Opportunity Facing the Industry: Based on your research, try to identify the biggest opportunity facing the industry. Focus on opportunities that are actionable, feasible, and relevant to the company. Your answer should demonstrate your critical thinking and problem-solving skills. Step 3: Communicate Your Answer Effectively: Your answer should be specific, relevant, and well thought out. Start off by telling the interviewer the opportunity that you think is the biggest and why you think that. Follow this up with a brief explanation of how you would capitalize on this opportunity if you were given the chance. Make sure to tailor your response to the specific company and industry as well.

Sample answers

Bad answer: "I'm not really sure. I haven't done enough research on the industry yet." This answer is bad because it shows a lack of knowledge and preparation for the job interview. It’s important to have some understanding of the industry and its current challenges before going into the interview. Good answer: "I believe the biggest opportunity facing our industry today is the rapid adoption of new technologies, such as artificial intelligence and blockchain. These technologies can significantly improve efficiency and streamline processes for our clients." This answer is good because it shows a clear understanding of the industry and its current trends. It also identifies a specific opportunity and explains why it's important. Bad answer: "I think the biggest opportunity facing our industry is to just keep doing what we're doing. We've been successful so far, so there's no reason to change." This answer is bad because it shows a lack of innovation and an unwillingness to adapt to change. The industry is constantly evolving, and it's important to stay ahead of the game. Good answer: "The biggest opportunity facing our industry today is sustainability. Consumers are becoming more environmentally-conscious, and companies that prioritize sustainability will have a competitive advantage. Our industry can play a major role in reducing waste and carbon emissions, and I believe this is an important area for growth." This answer is good because it shows an understanding of the industry's impact on society and the environment. It identifies a specific opportunity and explains why it's relevant and important.