The Power of Forecasting
“Learning from your own experience is good but learning from others experiences is even better.” This statement made by Mr. Jochen Siebert, founder of JSC Automotive and guest speaker on Campus is what our MBA students of Pforzheim University are also trained to do. Guest speakers contribute to a broader outlook for analytical thinking that further provides valuable insights for decision making for the MBA students.
Mr. Siebert who has an academic background in industrial engineering began his professional career in a management consultancy for telecommunications. Today he has extensive experience in Competitive Intelligence (CI) based on more than 250 research projects he has directed in his 20 years in the automotive industry. After a period in market research at the headquarters of Mannesmann where he directed a number of major studies in Asia, he worked as market analyst and business planner for Miliken Airbag in Belgium. From there he went on to a well-known automotive forecaster, eventually serving as Vice President Europe. Finally he founded JSC Automotive in 2007 that has its headquarters in Shanghai and two other offices in Stuttgart & Singapore.
Mr. Siebert interacted with the students showcasing the power of forecasting and how different factors and continuously changing trends affect the growth rate of a business. He showed how some statistical data of an economy such as GDP, living conditions, salary to loan ratio of an average household etc. can help in predicting the future of an industry. He said “It is very important to analyze the scenarios and relate it with the use of data. One should always know how the numbers come together and what do they mean” when asked about the importance of forecasting.
Mr. Siebert also coached students about the parameters to be taken into account when planning for growth in a consulting industry such as customer engagement, co-operation with journalists, team work, unique selling points and networking. Overall, it was a very engaging and learning session, that offered some very interesting perspectives for the MBA students.
Text: Siddharth Uppal, MBA Class of 2020/MBA Office