Hello!
Congratulations on being invited to the AC!
If it is strategy-based, I would focus on:
- Commercial Awareness: they want to see that you understand that businesses don’t operate in a vacuum. I would have a think about things such as market conditions, competitors, industry trends, etc., and apply them to the scenario you have been given. Even more basic points such as inflation and ESG pressure show that you are thinking commercially.
- Client’s Objectives: focus on what the business is actually trying to achieve. This might be growth, entering a new market, reducing costs, reputation management, diversifying, etc. If you are asked to make recommendations, they should always relate back to these goals. You are essentially being asked to provide legal advice that aligns with the business’ wider commercial strategy
- Risk Analysis: strategy will also involve showing that you can spot and weigh risks in a situation. This might be financial risks, reputational risks, regulatory risks, or operational risks. You won’t necessarily be expected to eliminate the risks - just make sure that you show that you can spot them and prioritise them accordingly.
- Clear Structure: as a more general tip, I would ensure that you construct your points in a clear and structured way. A simple structure could be: identify objectives, analyse options (i.e. the pros and cons), assess the risks, and make a recommendation.
- Practical and Decisive Recommendations: when you make recommendations at the end of the exercise, try to avoid sitting on the fence. It is completely fine to not give a completely definitive answer if the situation is unclear, but I would weigh up the options, choose one, and justify why you have chosen it. The best advice I was given during my placement year is that partners don’t want trainees to just highlight problems, they want trainees who can offer solutions and make decisions too.
Best of luck with the AC tomorrow - I’m sure you’ll do great!
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