Hoping I'm not too late, but from what I saw on other forums, the general consensus seem to be that the ACs are difficult to practice for. Full disclosure, I never did ACs for VS at DLA or Slaughter, so I'm not sure if you're working in a group or individually or what exactly you'll be doing. I assume it is a group exercise but either way, I think you would be looking at building a strategy for the business to expand through a SWOT or PESTLE analysis, or both – I could be totally wrong so do not take my word for it.
But anyways, here is my advice for preparing for whatever comes:
Firstly, I should also note that just because they asked previously candidates in their AC has been given this task doesn't mean that you will as well in your AC. By the way, if you are working in a group, it might be worth reading this definitive guide on assessed negotiation by
@Jacob Miller (
https://www.thecorporatelawacademy....ssed-negotiations-monday-article-series.3018/).
Secondly, I'd brush up on how to do a SWOT/PESTLE analysis – even if you are not doing those analyses specifically, they will help you develop a business-minded approach to stuff. Also brush up on business news over the past two to three weeks. Economists has a weekly edition (
https://www.economist.com/weeklyedition/2022-10-22) that runs through major news event of the past week, so I'd read that first to quickly catch-up, then listen to the FT podcast (and read relevant news articles) to learn about the major news stories this week. This should give you a decent understanding of the current macroeconomic environment that you can pick out in your analysis.
I would also go through the Investopedia glossary and learn business/finance terms (
https://www.investopedia.com/financial-term-dictionary-4769738). You don't have to go through all of them (that would take forever). I suggest instead learning the main ones – so really think about what terms you repeatedly hear about or see in the news, and also think in terms of what is important for a business to operate. When you are reading the definition to the terms, don't just read them as is, but practice thinking about the commercial implications it has (e.g., risks and benefits). For example, what does it mean for a business to have strong revenues, and how can a company use this to its advantage in pursuing its commercial objectives, or perhaps what issue does this pose for a company? If you're ever stuck on thinking about the implications, just think – what is the aim of any business? This should give you a good foundation to build out the internal aspect of your analysis.
Finally, and more importantly, remain calm and make sure you or your group have a coherent structure in your answer. You will make mistakes in your advice (everyone does) and the assessors aren't necessarily looking for the "perfect" answer, but rather your ability to work in a team (assuming you're working in a team) and to think logically. If you make a mistake, don't stress. Maintain your composure and confidence.
Best of luck!
