Hey!
This is a really good question, and I would definitely echo what has already been said so far!
I'd say that the strongest answers usually anchor themselves in a challenge that directly affects the firm, but are informed by wider market developments - therefore, I'd approach it by linking the two together.
For example, you might pick something such as geopolitical instability, shift trade relationships or regulatory change, but the key is then explaining:
- How that impacts Stephenson Harwood's clients (e.g. shipping, international trade, energy clients, etc.), and
- What that means for the firm itself (e.g. changes in demand for certain practice areas, pressure on fees, need to adapt expertise or strategy)
This way, you are showing wider commercial awareness and law firm awareness, which covers both areas that they are likely testing.
Equally, you could take a more firm-specific challenge (like AI, pricing pressure, or competition from US firms), but again, try to avoid treating it in isolation and make sure that it is relatively unique to
Stephenson Harwood.
As Jaysen mentioned, it is really key for your answer to feel clearly relevant to
Stephenson Harwood. For reference, I had a look at what the question was last cycle, and it asked you to discuss challenges that "
all law firms will face over the next five years". Therefore, I'd say they have deliberately altered the question to ensure your answer is firm-specific and tailored.
The way I would frame it is: "
This trend is happening in the market -> it affects the firm's clients in X way -> which creates Y challenge (+ possibly opportunities) for Stephenson Harwood specifically because of Z"
Best of luck with your application!