Commercial Awareness - Podcast Thread

[D]

Hey everyone.

Commercial Awareness is not something you can cram. It is built up over time and is the result of how you engage with the business world that exists around you.

If any of you are like me, I hate reading! So, I found my particular method of increasing commercial awareness was simply listening to a podcast or two each day while on the bus to Uni. Over time, I found a series of useful podcasts that I could dip in and out of when time permitted, as well as some short daily podcasts to keep on top of the news!

I use Spotify to listen to podcasts, however, I have no doubt these are available on other platforms. Here are the ones I recommend. Click the link and follow! (For reference, there are many, many out there! These are simply the ones I prefer).

FT Daily News Briefing - 6-7 minutes of daily news
https://open.spotify.com/show/1410RabA4XOqO6IV8p0gYF?si=8IxqydHSR_avyrgesSo5WQ

The Economist: Money Talks - 30 minutes, once a week, covering stories at a deeper level
https://open.spotify.com/show/2Yvo8QxZf7WlSEsIwKjtX4?si=2y73y9hIQa-8p212SYC2OQ

The Economist: Intelligence - 30 minutes, daily, covering both business and political issues. Suitable for wider knowledge
https://open.spotify.com/show/12zKAMNyS2GNentUzxq9QN?si=voyTYnYwR7GLdXgl8kYSyA

The Economist Radio: 30 minutes, once a week, covering a broad range of geopolitical and business issues
https://open.spotify.com/show/2ZFDmgDS2Z6xccP51s1zFQ?si=qKQXInhZS8KhYP4wQBwNcw

BBC Radio 5: Wake up to money - 45 minutes daily, chat show covering the daily business issues. Recommended if you have a longer commute, otherwise, use the FT Daily News briefing
https://open.spotify.com/show/1Q9XAxIXE1HQ656Ft7CtZR?si=s8VxXeTjRKaUwVuG031D7w

The Bottom Line - It features issues with clear commercial implications, often with a focus on what business sectors are doing, without feeling too 'heavily' commercial. An easy and quick listen (all under 30 mins) and genuinely interesting topics - Thanks @ath120!
https://open.spotify.com/show/4tnEpf6izermKcJMN2Wa2g?si=-2_C79QKTFCa0ff5Xu-_YA

"The Commercial Awareness Podcast" by Tapiwa Museba - it provides weekly updates on what has happened in the legal world, provides analysis and allows you to see the importance of the events in context. It is aimed at aspiring solicitor, future & current trainees and was invaluable in my understanding of the commercial world - Thanks @Karin
https://open.spotify.com/show/1bgdRgOpphAb6hqxjuMrTQ?si=oHID6xidSCqFJtvysIOKeQ
https://podcasts.apple.com/gb/podcast/the-commercial-awareness-podcast/id1440864554

If anyone has any recommendations, post them in here and I'll keep this thread updated!

 

[D]

With application season opening, I'd highly recommend adding a few of these to your daily listen. You'll be astounded how 20-30 minutes each day can transform the way you think about and understand some of the key commercial issues in the market!

 

[futuretraineecity]

Thanks so much! I’d also recommend Peter Watson’s ‘Commercial Awareness with Watson’s Daily business and financial news’ on Spotify for a good overview!

 

[ath120]

I also really recommend 'BBC Radio 4 - The Bottom Line'! It features issues with clear commercial implications, often with a focus on what business sectors are doing, without feeling too 'heavily' commercial. An easy and quick listen (all under 30 mins) and genuinely interesting topics.

 

[D]

Added!

 

[Karin]

I really recommend "The Commercial Awareness Podcast" by Tapiwa Museba - it provides weekly updates on what has happened in the legal world, provides analysis and allows you to see the importance of the events in context. It is aimed at aspiring solicitor, future & current trainees and was invaluable in my understanding of the commercial world

 

[D]

I really recommend "The Commercial Awareness Podcast" by Tapiwa Museba - it provides weekly updates on what has happened in the legal world, provides analysis and allows you to see the importance of the events in context. It is aimed at aspiring solicitor, future & current trainees and was invaluable in my understanding of the commercial world

Hey Karin,

Do you have a link? I'll get it added!

 

[Karin]

Hey Karin,

Do you have a link? I'll get it added!

Sure!
Spotify: https://open.spotify.com/show/1bgdRgOpphAb6hqxjuMrTQ?si=oHID6xidSCqFJtvysIOKeQ
Apple: https://podcasts.apple.com/gb/podcast/the-commercial-awareness-podcast/id1440864554

 

[S87]

Hi Guys,

I hope you are well and safe.

I read the news everyday and I enjoy it. However, I always feel that I am missing something or that I do not have a good understanding.
I find hard to describe the impact on law firms. For example, let's take a full service firm operating in multiple industries. Should I have an understanding of every industry? Should I know what are the trends in each and every industry?

@Daniel Boden,@Alice G, @D @Jaysen any tips?

Thank you in advance

 

[Alice G]

Hi Guys,

I hope you are well and safe.

I read the news everyday and I enjoy it. However, I always feel that I am missing something or that I do not have a good understanding.
I find hard to describe the impact on law firms. For example, let's take a full service firm operating in multiple industries. Should I have an understanding of every industry? Should I know what are the trends in each and every industry?

@Daniel Boden,@Alice G, @D @Jaysen any tips?

Thank you in advance

Hi there,

You do not need an in-depth knowledge of every sector. It is about knowing the overarching key trends that are identifiable in that sector. For example, let's take retail, you would be expected to know about the impacts of COVID-19 and the downward trend the sector was experiencing prior to this. You would be expected to be able to comment on the overarching reasons for that downward trend (rise of e-commerce, a shift in consumer behaviours and expectations, high rent prices on the high street). Strong candidates would maybe offer commentary on business rates, company voluntary arrangements and examples of when retail has suffered (think New look is a current example but I have not looked into this). What I am trying to say is there are, of course, levels of commercial awareness but really the expectation is to have an understanding, which is quite general and broad, as to the issues/opportunities in that sector and the key trends that you can discern from it. I'd say with retail knowledge of business rates and CVAs are 'nice to haves' which will definitely help to make a candidate stand out.

The other key thing I want to broach is it is important to be able to relate sectors back to the practices of a firm. Let's stick with retail and COVID-19 - there are significant employment ramifications here - is it fair or lawful that a business forces employees to take holiday pay because of COVID-19? What will happen if companies go into liquidation - what are the outstanding employment liabilities? What about pensions? (I am by no means an employment expert) This is a hallmark of a strong candidate because whilst you do not need to be able to ask all the right questions or have the answers, you can show an appreciation of how these sectors relate and interact with the practices of a law firm

If you want to post an example of a story or an issue you struggled with then please feel free to do so and tag me and I will try my best to offer some further insight/pointers.

This was far more long-winded than intended so please let me know if anything is unclear.

 

[Daniel Boden]

Hi Guys,

I hope you are well and safe.

I read the news everyday and I enjoy it. However, I always feel that I am missing something or that I do not have a good understanding.
I find hard to describe the impact on law firms. For example, let's take a full service firm operating in multiple industries. Should I have an understanding of every industry? Should I know what are the trends in each and every industry?

@Daniel Boden,@Alice G, @D @Jaysen any tips?

Thank you in advance

Hi there,

You do not need an in-depth knowledge of every sector. It is about knowing the overarching key trends that are identifiable in that sector. For example, let's take retail, you would be expected to know about the impacts of COVID-19 and the downward trend the sector was experiencing prior to this. You would be expected to be able to comment on the overarching reasons for that downward trend (rise of e-commerce, a shift in consumer behaviours and expectations, high rent prices on the high street). Strong candidates would maybe offer commentary on business rates, company voluntary arrangements and examples of when retail has suffered (think New look is a current example but I have not looked into this). What I am trying to say is there are, of course, levels of commercial awareness but really the expectation is to have an understanding, which is quite general and broad, as to the issues/opportunities in that sector and the key trends that you can discern from it. I'd say with retail knowledge of business rates and CVAs are 'nice to haves' which will definitely help to make a candidate stand out.

The other key thing I want to broach is it is important to be able to relate sectors back to the practices of a firm. Let's stick with retail and COVID-19 - there are significant employment ramifications here - is it fair or lawful that a business forces employees to take holiday pay because of COVID-19? What will happen if companies go into liquidation - what are the outstanding employment liabilities? What about pensions? (I am by no means an employment expert) This is a hallmark of a strong candidate because whilst you do not need to be able to ask all the right questions or have the answers, you can show an appreciation of how these sectors relate and interact with the practices of a law firm

If you want to post an example of a story or an issue you struggled with then please feel free to do so and tag me and I will try my best to offer some further insight/pointers.

This was far more long-winded than intended so please let me know if anything is unclear.

I think what Alice has said here is spot on. No firm would expect you to have detailed knowledge of every sector - I'm not sure that's even realistic tbh! My approach was pretty much the one that Alice has given in the above example, so I reckon if you follow that you won't go far wrong

 

[D]

Hi there,

You do not need an in-depth knowledge of every sector. It is about knowing the overarching key trends that are identifiable in that sector. For example, let's take retail, you would be expected to know about the impacts of COVID-19 and the downward trend the sector was experiencing prior to this. You would be expected to be able to comment on the overarching reasons for that downward trend (rise of e-commerce, a shift in consumer behaviours and expectations, high rent prices on the high street). Strong candidates would maybe offer commentary on business rates, company voluntary arrangements and examples of when retail has suffered (think New look is a current example but I have not looked into this). What I am trying to say is there are, of course, levels of commercial awareness but really the expectation is to have an understanding, which is quite general and broad, as to the issues/opportunities in that sector and the key trends that you can discern from it. I'd say with retail knowledge of business rates and CVAs are 'nice to haves' which will definitely help to make a candidate stand out.

The other key thing I want to broach is it is important to be able to relate sectors back to the practices of a firm. Let's stick with retail and COVID-19 - there are significant employment ramifications here - is it fair or lawful that a business forces employees to take holiday pay because of COVID-19? What will happen if companies go into liquidation - what are the outstanding employment liabilities? What about pensions? (I am by no means an employment expert) This is a hallmark of a strong candidate because whilst you do not need to be able to ask all the right questions or have the answers, you can show an appreciation of how these sectors relate and interact with the practices of a law firm

If you want to post an example of a story or an issue you struggled with then please feel free to do so and tag me and I will try my best to offer some further insight/pointers.

This was far more long-winded than intended so please let me know if anything is unclear.

Excellent stuff.

For reference, in last years CC Case Study, there was a section on retail that covered things such as CVA's, Mike Ashley, etc. This simply reinforces what @Alice G has said

 

[S87]

Thank you very much for your help guys. I really appreciate it

 

[S87]

Hi there,

You do not need an in-depth knowledge of every sector. It is about knowing the overarching key trends that are identifiable in that sector. For example, let's take retail, you would be expected to know about the impacts of COVID-19 and the downward trend the sector was experiencing prior to this. You would be expected to be able to comment on the overarching reasons for that downward trend (rise of e-commerce, a shift in consumer behaviours and expectations, high rent prices on the high street). Strong candidates would maybe offer commentary on business rates, company voluntary arrangements and examples of when retail has suffered (think New look is a current example but I have not looked into this). What I am trying to say is there are, of course, levels of commercial awareness but really the expectation is to have an understanding, which is quite general and broad, as to the issues/opportunities in that sector and the key trends that you can discern from it. I'd say with retail knowledge of business rates and CVAs are 'nice to haves' which will definitely help to make a candidate stand out.

The other key thing I want to broach is it is important to be able to relate sectors back to the practices of a firm. Let's stick with retail and COVID-19 - there are significant employment ramifications here - is it fair or lawful that a business forces employees to take holiday pay because of COVID-19? What will happen if companies go into liquidation - what are the outstanding employment liabilities? What about pensions? (I am by no means an employment expert) This is a hallmark of a strong candidate because whilst you do not need to be able to ask all the right questions or have the answers, you can show an appreciation of how these sectors relate and interact with the practices of a law firm

If you want to post an example of a story or an issue you struggled with then please feel free to do so and tag me and I will try my best to offer some further insight/pointers.

This was far more long-winded than intended so please let me know if anything is unclear.

You are a gem!!