Developing & Demonstrating Commercial Awareness

What commercial awareness is  Awareness of events in the business world  Awareness of other current affairs  Understanding the implications  Understanding how companies work  Some knowledge of business concepts  Seeing things from clients’ perspective  Drawing from your own experiences

What commercial awareness isn’t  Knowing lots of jargon (but not understanding what it means)  Reading the FT 5 mins before an interview (and not knowing the details or facts)  Quoting deals from our website (without understanding what happened… and what if your interviewer worked on that deal…)  Making sweeping statements about the economy (and not having the evidence to back this up)

Why is it important?  Nature of our work – commercial law  Understanding the client’s business  Building relationships with clients  Providing creative solutions for clients  Understanding how your own organisation works  Interviews…

There are 3 main areas that may be tested  General commercial awareness  Awareness you have gained from your work experience or positions of responsibility  Knowledge about employers and how they operate as a business

General commercial awareness  Read business pages regularly, follow stories  Research our deals (form an opinion)  Business games / workshops  Portfolios / shadow trading  Clients’ websites  If you don’t understand something you read about – look it up / ask someone to explain

General commercial awareness (2)  Be prepared to discuss your thoughts and opinions on issues  Why has the situation arisen?  What are the causes?  Who are the main players?  What are the implications of the situation?  What would you do to turn the situation around?

Using your own experiences (1)  Part-time job  Vacation Placements  Society / Club roles  Voluntary work  Charitable work

Using your own experiences (2) Think about these questions…  How is the company structured?  What are the main products / services on offer?  Who are the main competitors?  How do they differentiate themselves in the market?  Who are the target audience / clients?  Strengths / weaknesses?  What changes would you make if you were in charge?

Employers… they’re a business too!  Visit their website  Recent news / deals etc  Trends in the market place / industry  Issues facing the organisation  Employers want to know you have thought about their business and how it works

Summary  Don’t leave it too late  Be prepared for interviews – pick 2/3 stories  Research potential employers  Think about your experiences and what you have learned  Don’t panic – a lot of this is common sense

Opportunities at Allen & Overy  Vacation Programmes (Winter, Spring and Summer 2008/2009 – 100 places available)  Open Days (November 2008 – August 2009) -Apply from 1 st October 2008 – 27 th February 2009  Training Contracts (x120) – September 2011/March 2012

Application deadlines & interviews  Spring and Summer (penultimate year – any degree): -1 st October 2008 – 16 th January January and February interviews  Non-law finalists/graduates: -1 st October 2008 – 16 th January January and February interviews  Law (once penultimate year results known): -1 st June – 31 st July September and October interviews

Interview process – vacation programme and training contracts  First interview (x1 hour)  Case study preparation (x30 minutes)  Second interview (x45 minutes)  Tour of office with trainee solicitor.

Any questions?

Developing & Demonstrating Commercial Awareness