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<blockquote data-quote="Abstruser" data-source="post: 14789" data-attributes="member: 260"><p>Did you mean the questions I posted <strong>specifically</strong>, or commercial awareness questions <strong>generally</strong>?</p><p></p><p>If specifically:</p><p></p><p>The ‘<strong>prediction</strong>’ question was really just based on broad trends I’d been reading about at the time (around December last year). My predictions were:</p><ol> <li data-xf-list-type="ol">Brexit wouldn’t happen by 30 March 2019, and would be kicked further down the road due to lack of political consensus</li> <li data-xf-list-type="ol">The US-China trade war would simmer down and eventually reach a trade deal, as the two countries need each other more than they cared to admit at the time. I also mentioned the general background of countries agreeing FTAs and BITs with each other (I referenced an Economist podcast I had heard just the week before).</li> <li data-xf-list-type="ol">Eurozone economy would do badly over the next year due to Brexit, Italian elections, German automotive industry, French protests</li> </ol><p>In hindsight these weren’t particularly groundbreaking predictions (although they have aged quite well if I may say so myself <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite7" alt=":p" title="Stick Out Tongue :p" loading="lazy" data-shortname=":p" />). It was just a matter of showing that I had been keeping up with broad commercial trends and was able to justify my predictions. I wasn’t questioned further on these predictions.</p><p></p><p>The ‘<strong>contract</strong>’ question was more tricky, and I encountered that at an Open Day actually. I really just tried to apply PESTEL:</p><ol> <li data-xf-list-type="ol"><strong>Political</strong>: Cleaning public spaces might be classed as providing public services, so I would want to flag up to my client the possibility of being subject to additional or stricter regulations.</li> <li data-xf-list-type="ol"><strong>Economic</strong>: Did £1m include provision for interest? £1m in 10 years might be worth a lot less after inflation, etc.</li> <li data-xf-list-type="ol"><strong>Social</strong>: N/A</li> <li data-xf-list-type="ol"><strong>Technological</strong>: N/A</li> <li data-xf-list-type="ol"><strong>Environmental</strong>: Who would be responsible for disposing of the waste? If it were my client, how should they dispose of it (incinerating, landfill, recycling etc)? The manner of disposal might rack up extra costs, which I might want reflected in the contract price.</li> <li data-xf-list-type="ol"><strong>Legal</strong>: In terms of definitions, what did ‘city of London’ mean? Did it mean the Square Mile or London generally?</li> </ol><p>The '<strong>regulation</strong>' question was very open-ended - there's no real right or wrong answer for these opinion-based questions. I just picked a side based on my personal views and backed it up quite generally. I didn't answer with any technical knowledge. Things I raised included:</p><ol> <li data-xf-list-type="ol">Whether social media platforms should be regulated on a 'strict liability' or a 'wilful blind eye' basis</li> <li data-xf-list-type="ol">The right to data privacy</li> <li data-xf-list-type="ol">The right to informed consent</li> </ol><p></p><p>Those answers are by no means perfect, but I hope it gives you a sense of how to answer different kinds of commercial awareness questions!</p></blockquote><p></p>
[QUOTE="Abstruser, post: 14789, member: 260"] Did you mean the questions I posted [B]specifically[/B], or commercial awareness questions [B]generally[/B]? If specifically: The ‘[B]prediction[/B]’ question was really just based on broad trends I’d been reading about at the time (around December last year). My predictions were: [LIST=1] [*]Brexit wouldn’t happen by 30 March 2019, and would be kicked further down the road due to lack of political consensus [*]The US-China trade war would simmer down and eventually reach a trade deal, as the two countries need each other more than they cared to admit at the time. I also mentioned the general background of countries agreeing FTAs and BITs with each other (I referenced an Economist podcast I had heard just the week before). [*]Eurozone economy would do badly over the next year due to Brexit, Italian elections, German automotive industry, French protests [/LIST] In hindsight these weren’t particularly groundbreaking predictions (although they have aged quite well if I may say so myself :p). It was just a matter of showing that I had been keeping up with broad commercial trends and was able to justify my predictions. I wasn’t questioned further on these predictions. The ‘[B]contract[/B]’ question was more tricky, and I encountered that at an Open Day actually. I really just tried to apply PESTEL: [LIST=1] [*][B]Political[/B]: Cleaning public spaces might be classed as providing public services, so I would want to flag up to my client the possibility of being subject to additional or stricter regulations. [*][B]Economic[/B]: Did £1m include provision for interest? £1m in 10 years might be worth a lot less after inflation, etc. [*][B]Social[/B]: N/A [*][B]Technological[/B]: N/A [*][B]Environmental[/B]: Who would be responsible for disposing of the waste? If it were my client, how should they dispose of it (incinerating, landfill, recycling etc)? The manner of disposal might rack up extra costs, which I might want reflected in the contract price. [*][B]Legal[/B]: In terms of definitions, what did ‘city of London’ mean? Did it mean the Square Mile or London generally? [/LIST] The '[B]regulation[/B]' question was very open-ended - there's no real right or wrong answer for these opinion-based questions. I just picked a side based on my personal views and backed it up quite generally. I didn't answer with any technical knowledge. Things I raised included: [LIST=1] [*]Whether social media platforms should be regulated on a 'strict liability' or a 'wilful blind eye' basis [*]The right to data privacy [*]The right to informed consent [/LIST] Those answers are by no means perfect, but I hope it gives you a sense of how to answer different kinds of commercial awareness questions! [/QUOTE]
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