SWOT Analysis for Commercial Awareness

Commercial awareness is more than just keeping up with business news. It is about understanding how legal decisions, market trends and global events affect clients and the firms that represent them.

A SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats) is a simple but powerful tool used by businesses, and it can also help you develop commercial awareness as a future lawyer. By analysing a company or industry using this structure, you learn to think like your clients, which is exactly what firms look for in applications and interviews.

How to Use It

Choose a law firm, client, or industry sector you are interested in such as renewable energy, banking, or technology. Then break it down using the four parts of a SWOT.

1. Strengths
What is the company or sector doing well
• Strong brand reputation or market share
• Innovative products or services
• Efficient operations or loyal customer base
• Key legal advisors or partnerships

2. Weaknesses
Where might they be struggling
• High costs or outdated systems
• Dependence on one region or product
• Legal or regulatory issues
• Reputation challenges

3. Opportunities
What external factors could help them grow
• New markets or technologies
• Favourable regulatory changes
• ESG (Environmental, Social, Governance) investment trends
• Expanding into emerging economies

4. Threats
What external factors could hurt performance
• Economic downturns or inflation
• New competitors or disruptive technologies
• Political instability or changing trade rules
• Increased regulatory pressure

Why It Matters

Using a SWOT analysis helps you move beyond summarising headlines. It trains you to analyse how businesses operate and what legal advice they might need.

For example, if you identify that a company’s weakness is supply chain instability, you can link it to the need for stronger contract management or risk mitigation. That demonstrates both commercial awareness and legal understanding.

You can apply this method to
• Prepare for commercial awareness questions in interviews
• Write stronger application answers that connect law to business
• Stay up to date on industry insights for your preferred practice areas

If you would like a free downloadable SWOT Analysis Template for Commercial Awareness, you can request it by commenting your below. Subscribers also get access to other resources including the STAR Method Guide, LinkedIn for Law Students, and Training Contract Tracker.

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