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Commercial Awareness
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Aspiring Lawyers - Applications & General Advice
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Practise your commercial awareness for your next interview using PESTLE & SWOT.
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<blockquote data-quote="Maria d'Orey" data-source="post: 133309" data-attributes="member: 25017"><p>Hi everyone!</p><p></p><p>My name is Maria and I am a Product Lead at TCLA and future trainee. ☺️</p><p></p><p>With assessment centre season well underway and many of you wanting to start preparing for your training contract applications, [USER=25015]@NatashaS98[/USER] , [USER=9986]@Orla[/USER] , [USER=23626]@Erin[/USER] and I have been thinking of ways to provide you with <strong>opportunities to practice your commercial awareness. </strong></p><p></p><p>I wanted to start by giving you an opportunity to<strong> conduct a PESTLE & SWOT analysis. </strong>This is commonly used in group exercises or individual assessment centre activities, mainly because it allows recruiters to see your ability to think commercially and consider current news stories that may impact clients (both positively and negatively!). You can find a <strong>quick summary</strong> of what each acronym stands for in the <strong>PDF below.</strong></p><p></p><p>Here is a scenario that you could be given in a law firm assessment centre:</p><p></p><p><strong><em>You are an entrepreneur seeking to start your own independent coffee shop in London. Using PESTLE and SWOT, what are some factors that you would consider when building your business plan?</em></strong></p><p></p><p>Make sure to share your ideas on this thread, and we’ll be sending everyone who participates an email with a summary of our team’s answer to this question by <strong>next Wednesday, the 8th of February. </strong></p><p></p><p>------</p><p></p><p><strong>Quick note: </strong></p><p></p><p>Don’t worry if you find this hard, this is normal! There is also no such thing as a “perfect” answer here. The most important thing is to give this practice exercise a try! </p><p></p><p>Also, there is no need to use both PESTLE <em>and</em> SWOT or to consider every single factor of each - feel free to refer to as many points as you want! In fact, as you can see, both Strengths and Weaknesses refer to an internal assessment of the business, while Opportunities and Threats relate to external factors. Because we’ve given you little information about the business, it is normal if you can’t think of many strengths and weaknesses, so don’t worry about that!</p><p></p><p>Looking forward to seeing everyone’s thoughts! 🌟</p></blockquote><p></p>
[QUOTE="Maria d'Orey, post: 133309, member: 25017"] Hi everyone! My name is Maria and I am a Product Lead at TCLA and future trainee. ☺️ With assessment centre season well underway and many of you wanting to start preparing for your training contract applications, [USER=25015]@NatashaS98[/USER] , [USER=9986]@Orla[/USER] , [USER=23626]@Erin[/USER] and I have been thinking of ways to provide you with [B]opportunities to practice your commercial awareness. [/B] I wanted to start by giving you an opportunity to[B] conduct a PESTLE & SWOT analysis. [/B]This is commonly used in group exercises or individual assessment centre activities, mainly because it allows recruiters to see your ability to think commercially and consider current news stories that may impact clients (both positively and negatively!). You can find a [B]quick summary[/B] of what each acronym stands for in the [B]PDF below.[/B] Here is a scenario that you could be given in a law firm assessment centre: [B][I]You are an entrepreneur seeking to start your own independent coffee shop in London. Using PESTLE and SWOT, what are some factors that you would consider when building your business plan?[/I][/B] Make sure to share your ideas on this thread, and we’ll be sending everyone who participates an email with a summary of our team’s answer to this question by [B]next Wednesday, the 8th of February. [/B] ------ [B]Quick note: [/B] Don’t worry if you find this hard, this is normal! There is also no such thing as a “perfect” answer here. The most important thing is to give this practice exercise a try! Also, there is no need to use both PESTLE [I]and[/I] SWOT or to consider every single factor of each - feel free to refer to as many points as you want! In fact, as you can see, both Strengths and Weaknesses refer to an internal assessment of the business, while Opportunities and Threats relate to external factors. Because we’ve given you little information about the business, it is normal if you can’t think of many strengths and weaknesses, so don’t worry about that! Looking forward to seeing everyone’s thoughts! 🌟 [/QUOTE]
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Practise your commercial awareness for your next interview using PESTLE & SWOT.
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