Commercial Awareness

Developing Commercial Awareness [pic 1]

Commercial awareness can be defined in a number of categories including understanding resources and suppliers, customers and competitors, and staying up-to-date on recent developments. The Economist, Financial times and Guardian are good examples of business publications that you can read to develop your commercial awareness. However Commercial awareness is not just limited to this alone, it can even  be developed in a variety of ways from extra-curricular activities to work experience.

As commercial awareness is the understanding of how businesses work, from the clients to the economic climate and the essential skills involved in a business such as teamwork, attention to detail and problem solving, these skills can be developed unconsciously through work experience, even  if it does not relate to law, for example, in McDonalds team work is essential, and is also valued in any law firm. If you can therefore show how you developed the ability to work in a team you have already shown commercial awareness.

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Different employers have their own interpretation of what commercial awareness means for them and in their sector.  

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Japans GDP Growth

Japanese Recession 

The recession that hit Japan after April’s tax increase has turned out to be deeper than initially expected, the government said on Monday, casting fresh doubt over its efforts to boost growth in the run-up to a general election.

An increase in the country's sales tax, which was first raised in April from 5% to 8%, had hit growth in the second quarter and still appeared to be having an impact on the economy.

According to the Cabinet Office’s first estimate revealed gross domestic product shrank at an annualised rate of 1.6 % between July and September, However a revised estimate on Monday showed that real GDP slipped 1.9%, with a contraction in spending by businesses twice as severe as first thought.

So what are the effects of a recession like this on businesses ?

If a Multinational company with a large footprint in japan was affected they are likely to experience a decline in sales revenues and profits, which may cause a cut back on hiring new employees, in an effort to cut costs and improve the bottom line, These cost-cutting efforts will impact other businesses, both big and small, which provide the goods and services used by the big manufacturer.

Travers Smith Event  

Travers Smith will be offering 35 Aspiring Solicitors members the opportunity to attend their offices on 23rd January 2015 and receive some essential information about the application process,  life in a City law firm, networking lunch and an interactive skills session.  

How to Apply : email  events@aspiringsolicitors.co.uk with the subject heading “Travers Smith  Event“

In order to be eligible you have to have obtained a least AAB at Alevel or equivalent and be expecting a good 2:1, law or non-law undergraduates in your penultimate or final year of study.

Travel costs up to £60 to be covered by Travers Smith

Places will be offered on a rolling basis

For more information check www.aspiringsolicitors.co.uk

Good luck !

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