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Applications Discussion
TCLA Vacation Scheme Applications Discussion Thread 2024-25
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<blockquote data-quote="Ram Sabaratnam" data-source="post: 208841" data-attributes="member: 36738"><p>Hiya [USER=31107]@legallyells[/USER] </p><p></p><p>This could depend on the nature of the written task. Some tasks might involve case studies where you're expected to perform a SWOT analysis, while others may require you to conduct a PESTLE analysis. Understanding the difference between these two methods will help you prepare effectively.</p><p></p><p>A SWOT analysis is internally focused, helping you assess the strengths, weaknesses, opportunities, and threats facing a particular business or project. Strengths and weaknesses typically cover internal factors such as resources, capabilities, or organisational structure, whereas opportunities and threats examine external factors, including competitors or market trends. By doing this, you can show your assessor that you understand how businesses pursue opportunities and mitigate potential threats.</p><p></p><p>In contrast, a PESTLE analysis is entirely external and focuses on the broader environment in which a business operates. It involves considering the political, economic, social, technological, legal, and environmental factors. For example, changes in government policy (political), economic downturns (economic), shifting consumer behaviour (social), new innovations (technological), regulatory updates (legal), or sustainability pressures (environmental). </p><p></p><p>To prepare effectively, I'd suggest practising your ability to think through commercial news stories. You could spend the next few days reading an article or two from the <em>Financial Times</em> and applying SWOT or PESTLE analysis to break down risks, opportunities, and relevant considerations. You might also want to use ChatGPT or even just google how material is presented to clients in memos and so forth. I think this is particularly important in helping candidates understand the importance of formatting and organising information in a way that's client-friendly.</p><p></p><p>Hope this helps and let us know if you have any other questions!</p></blockquote><p></p>
[QUOTE="Ram Sabaratnam, post: 208841, member: 36738"] Hiya [USER=31107]@legallyells[/USER] This could depend on the nature of the written task. Some tasks might involve case studies where you're expected to perform a SWOT analysis, while others may require you to conduct a PESTLE analysis. Understanding the difference between these two methods will help you prepare effectively. A SWOT analysis is internally focused, helping you assess the strengths, weaknesses, opportunities, and threats facing a particular business or project. Strengths and weaknesses typically cover internal factors such as resources, capabilities, or organisational structure, whereas opportunities and threats examine external factors, including competitors or market trends. By doing this, you can show your assessor that you understand how businesses pursue opportunities and mitigate potential threats. In contrast, a PESTLE analysis is entirely external and focuses on the broader environment in which a business operates. It involves considering the political, economic, social, technological, legal, and environmental factors. For example, changes in government policy (political), economic downturns (economic), shifting consumer behaviour (social), new innovations (technological), regulatory updates (legal), or sustainability pressures (environmental). To prepare effectively, I'd suggest practising your ability to think through commercial news stories. You could spend the next few days reading an article or two from the [I]Financial Times[/I] and applying SWOT or PESTLE analysis to break down risks, opportunities, and relevant considerations. You might also want to use ChatGPT or even just google how material is presented to clients in memos and so forth. I think this is particularly important in helping candidates understand the importance of formatting and organising information in a way that's client-friendly. Hope this helps and let us know if you have any other questions! [/QUOTE]
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