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First meeting of BPP Legal Awareness Society on flotations at 3 pm



 

 

 

 

 

 

The first meeting of the BPP Legal Awareness Society will take place at 3 pm today (Wednesday) in room L2 of the BPP Business School, 2 St Mary Axe. The meeting is on flotations (initial public offerings and rights issues). This topic is relevant to many of the compulsory modules in the MBA, including students of the strategy and international marketing special electives in progress.

We will be presenting the LegalAware video on flotations now on YouTube

http://www.youtube.com/legalaware#p/a/u/0/6p46w20_e28

I will also be giving a detailed presentation on flotations to cover the following issues in details: advisors, reasons for a flotation, HR issues, problems, the process, reasons not to go for a flotation, costs, choosing the market, advisors, preparation, application, and pricing.

A detailed handout will be made available for attendees of the Society this afternoon.

Instructions for joining BPP LegalAware if you're a BPP student



You should read this poster if you are a student member of BPP, and you wish to be kept up-to-date with all the information about the BPP Legal Awareness Society.

Please note that our first meeting is in fact this Wednesday 2 November 2011 at 3 pm, room G2 BPP Business School St Mary Axe- we’ll be discussing the need to integrate corporate business strategy and the law in organising a flotation (an initial public offering, or rights issue).

2 Nov 11 meeting at @BPPBusiness 3 pm – flotations



Our first meeting is this Wednesday 3 pm – 4 pm at the BPP Business School, 2 St Mary Axe, 2 November 2011.

 

 

 

 

 

 

 

 

 

 

We will be looking at the effort involved in doing a flotation successfully in the City, some interesting recent IPOs and rights issues, and how the flotation fits into a business’ corporate strategy. The meeting will therefore be of particular interest to law students with an interest in commercial issues, as well as finance and accountancy students. It will especially be of interest to BPP MBA students of the compulsory module in managerial decision-making, and of the special elective module in private equity and venture capital.

We will be showing our BPP Legal Aware video on flotations,

 

Other meetings of the BPP Legal Awareness Society, run by students of BPP at the BPP Business Student on behalf of all students at BPP, will take place as follows.

Wednesday 16 November 3 – 4 pm; room L2, BPP Business School St Mary Axe

Debt finance: investment options for the company

Wednesday 30 November 3 – 4 pm  – room L2, BPP Business School St Mary Axe

Joint ventures: practical legal issues for joint ventures

Wednesday 14 December 3 – 4 pm. – room L2, BPP Business School St Mary Axe

Arbitration: mechanisms for dispute resolution for businesses

The LegalAware legal blog awards 2011



After a popular vote based on incredibly complicated performance metrics, the top 3 results are duly announced as follows.

 

 

 

 

 

 

1. @charonqc and @obiterj

http://www.obiterj.blogspot.com

http://charonqc.wordpress.com

3. @legalaware

http://legal-aware.org

The situational judgement test: past, present and future



As of this morning, 103 people have taken the BPP Legal Aware Situational Judgement Test.

You can take the test here, if you haven’t done so already.

There has been a small explosion in the research done into ‘situational judgement tests’ (SJT) for employment selection (Weekley and Ployhart, 2006). SJTs present applicants with work-related situations and possible responses to the situations. There are broadly two types of instructions (reviewed by McDaniel et al., 2007). Behavioural tendency instructions ask respondents to identify how they would likely behave in a given situation. Knowledge instructions ask respondents to evaluate the effectiveness of possible responses to a given situation. Tests assessing an individual’s judgement concerning work-related situations have had a long history in the psychological assessment literature (McDaniel et al., 2001). For example, during World War II, Army psychologists attempted to assess the judgement of soldiers (Northrup, 1989). These judgement tests consisted of scenarios with a number of alternative scenarios. Solutions rested on the person’s ability to draw on his common sense, experience, and general knowledge, rather than logical reasoning.

 

In an influential study by Chan and Schmitt (2002), data from 160 civil service employees were analysed, with a view to demonstrating the validity of the SJT in predicting overall job performance as well as three performance dimensions: task performance (core technical proficiency; problem analysis, written communication, oral communication), motivational contextual performance (job dedication; motivation to perform, motivation to learn, motivation to work hard), and interpersonal contextual performance (interpersonal facilitation; conflict resolution, negotiation, teamwork and co-operation). Chan and Schmitt (2002) also felt that situational judgement tests provided incremental validity over prediction from cognitive ability, personality traits, and job experience.

 

Previously, Huffcuttt and colleagues (2001) had attempted to elucidate the most suitable construct categories. Their constructs included mental capability, knowledge and skills, basic personality traits, applied social skills, interests and preferences, organizational fit, and physical attributes.Recently, Christian, Edwards and Bradley (2010) argue that many studies have failed, however, to report the constructs actually measured in SJTs. A construct-level focus in the situational judgement test literature is therefore lacking. Christian and colleagues (2001) found that situational judgement tests most often assess leadership and interpersonal skills and those situational judgement tests measuring teamwork skills and leadership skills have relatively high validities for overall performance.

 

There has been an increasing drive to standardising these tasks. For example, the LR SJT has questions in written format. There is inevitably a difference for oral questions, or SJTs in video format (it is claimed that video SJTs have more subtle nuances involving social cognition or emotional intelligence which can be picked upon). Also, the questions can potentially vary in scenario length (longer scenarios tend to have more detail), and how scenarios are profession-specific (for example, type of firm, law/medicine/business). Finally, the questions can vary in format. In the LR SJT, and for example in the 2010 and 2011 Clifford Chance SJT, you have to pick one best out of the options given. In some tests, rather, you may be required to rank your choices in order of preference.

 

References

Chan, D, Schmitt, N. (2002) Situational judgment and job performance. Human performance, 15(3), 233-254.

 

Christian, MS, Edwards, BD, Bradley, JC. Situational judgment tests: constructs assessed and a meta-analysis of their criterion-based constructs. (2010) Personnel Psychology 63: 83-117.

 

Huffcutt, AI, Conway, JM, ROTH, PL, Stone, NJ.. (2001) Identification and meta analytic assessment of psychological constructs measured in employment interviews. Journal of Applied Psychology 80: 897-913.

 

McDaniel, MA, Hartman, NS, Whetzel, DL, Lee Grubb III, W. (2007) Situational judgment tests, response instructions, and validity: a meta-analysis. Personnel Psychology 60, 63-91.

 

McDaniel, MA, Morgeson, FP, Finnegan, EB, Campio, MA, Braverman, EP. (2001) Use of situational judgment tests to predict job performance: a clarification of the literature. Journal of Applied Pyschology 86(4), 730-740.

 

Weekley, JA, Polyhart, RE. (2006) Situational judgment tests: Theory, management, and application. Mahwah, NK: Erlbaum.

My biography



 

 

 

 

 

@legalaware is the Head of the BPP Legal Awareness Society, a student society which explains the relevance of the law to domestic and international business strategy, but, more importantly perhaps, a very keen and devoted legal blogger. Originally trained academically at Cambridge and London to postgraduate level, his primary interest overall is, in fact, ensuring that all members of society feel included. He has become particularly passionate about advocating that the social value of disabled lawyers is recognised, whether in social law or in corporate law, and that kind talented people are not ‘written off’ too early (or at all) by the English educational system.

 

 

Gazelles



This is a typical question, one of 300, which I am writing for my practice verbal reasoning platform.

 

 

 

 

 

 

 

12            Young, fast-growing businesses are more likely to have their loan applications rejected in Britain than in any other leading country in Europe, according to European Union figures. So-called “gazelles” — small, dynamic enterprises that are only a handful of years old — had a harder time clinching bank loans than in other top Western European nations last year, Eurostat numbers showed. The British rejection rate was 35.6 percent last year, up from 6.8 percent in 2007, according to data released this month. Among the larger EU nations, the only countries that came close were Denmark and the Netherlands, where failure rates on loan applications were 32 percent and 29 percent, respectively. The number of rejections among small British information and communications technology companies was particularly high, at 38.4 percent.

 

‘Gazelles’ sometimes turn into ‘large antelopes’, in business terms – these are large, incumbent companies with much inertia.

 

CANNOT SAY. No reference is given to the term ‘large antelopes’ in this passage.

 

The Netherlands have the third highest rejection rate in the whole of Europe for successfully obtaining bank loans in Europe.

 

CANNOT SAY. Whilst this is possible from the passage, it cannot be stated as a fact, particularly since the passage strictly speaking refers to countries in Western Europe.

LegalAware four-part series on psychometric tests: Factsheet 3 – What are situational judgement tests?



This is the third in a four-part series looking at psychometric testing.

Lots of employers use situational judgement tests (SJTs) during their recruitment stage, particularly at graduate level.

SJTs measure your behaviour and attitudes to work-related scenarios. With a bit of “insider knowledge” you will have nothing to fear. This is where it is most likely to have a substantial advantage to ‘understand’ the corporate environment or culture, from having done ‘relevant’ work experience. Possibly reading all the books in the world about what it is like to work in a City environment won’t fully prepare you for such tests. However, here is one very good book, which is available on Amazon UK:

http://www.amazon.co.uk/Need-Know-About-City-2009/dp/0955218632/ref=sr_1_1?ie=UTF8&qid=1318253145&sr=8-1

 

 

 

 

 

 

 

 

It is therefore perfectly possible for you to ‘train’ to become good at these tests. Currently organisations as diverse as Waitrose, the NHS, PricewaterhouseCoopers, Sony, Wal-Mart, Deloitte, John Lewis, the law firms Herbert Smith and Eversheds, the Fire Service and many more, are using SJTs as part of their recruitment process.

 

 

Situational judgement tests present candidates with a range of different situations that they might experience in the job for which they are applying. For each situation, a number of possible actions are suggested. There may be around 3 actions, but this varies. It is the candidate’s job to choose between these possible options and judge which is the most effective course of action to take and therefore which action they would take if faced with this situation.

SJTs are always multiple-choice; no answers other than the options listed are allowed.? The ‘name of the game’ is not to have an in-depth discussion over the various pros and cons of the various options on offer; often one of the options will be completely daft according to most reasonable people.

The situations (or “scenarios” as they are sometimes called) are almost always reflective of a real-life aspect of the job. SJTs are usually designed using ‘Subject Matter Experts’ – usually people who are successful at the job themselves. These experts are asked to suggest likely scenarios with which a jobholder might be faced and also to suggest possible responses and rate these responses for effectiveness. This forms the basis of the scoring system for the test. So in other words, how closely your responses match the answers rated highly by the ‘experts’ will determine how well you do on the test.

For employers, SJTs are a very cost effective, powerful and convenient way to select the potential strong performers from a large group of candidates. Employers will be more likely to use an SJT if they have a high volume of candidates applying for a role or position and if they recruit for this position on a regular basis.

How should you prepare for a SJT?

It has been suggested that one of the best ways to be prepared for a selection test, including a situational judgement test, is to be aware of what the test is seeking to measure. In other words, what aspects of you, as a candidate is the test hoping to pick up on?

Competencies are bundles of skills, abilities and personality traits which are considered by most experts to contribute to good job performance. The relevant competencies will vary according to the job or job-type being considered. As a law student applying for a training contract, you will normally be expected to demonstrate “graduate level competences”.

Graduate competencies will reflect the range of skills, abilities and styles that are effective at a graduate entry level role in an organisation.

They are unlikely to include managerial competencies such as ‘directing others’ and ‘strategic thinking’.

They will probably include some, or all, of the following:

  • Communicating, influencing and negotiating – looking for clarity, appropriateness and persuasiveness? of communication.
  • Drive to achieve results – looking for motivation and drive to achieve high standards and deliver results on time.
  • Planning and organising – looking for the tendency to approach tasks in a systematic and organised fashion, to prioritise activities and manage time.
  • Analysis and decision-making – looking for accurate and timely analysis of information, facts and data and good judgement with regard to what course of action to take based on that information.
  • People and relationship skills – looking for capacity to build effective working relationships, to have empathy and awareness of others and work well in a team.

No particular training or knowledge is required to take this type of test. However, as mentioned above, if practice tests are available on the employing organisation’s website, or elsewhere, it is well worth taking full advantage of these.

When you sit down to take the test, look closely at the detail of both the situation, the possible answers, what you are being asked to comment on and also whether you are being asked for your judgement or information about your most likely response. It is important that you read each scenario thoroughly.

 

 

Another point is that, as for ability tests, you are expected to use only the information provided in the question; do not make assumptions about the situation or scenario, even if it is similar to one that you have come across yourself in the past.

And finally, as mentioned above, if you have been given information about the competencies assessed then keep this in the back of your mind as you progress through the test. If you haven’t been given this information then make your best guess as to the competencies that are typical of the role for which you are applying. By identifying the competency or competencies that the question is addressing you can more easily get into the correct ‘mindset’ to judge the options effectively.

 


Example questions

 

1. Your friend, who has always been your competitor at law school, is about to give a Powerpoint presentation on share acquisitions in Korea as a trainee, and you know that the Managing Associate is looking forward to this presentation with interest. However, there appears to be a mechanical fault with accessing Broadband, and the only copy of the file is an email which she sent to you to check yesterday. You saved it on your memory stick, which you happen to have brought to the meeting. You know the memory stick is compatible with the computer she is using for her presentation. How do you decide to proceed?

Pretend you have forgotten the memory stick, and you cannot help. (0%)

Offer to upload the presentation on her computer using the memory stick, but to offer also to download the file from the internet if that fails from a neighbouring computer. (94%)

Ask the Managing Associate for help, to demonstrate that you enjoy teamwork. (6%)

 

2. You are a trainee in the corporate finance seat in London where all team members are extremely busy. You have recently been liaising with ten particular clients on an almost daily basis in France. Your Supervisor has asked you to canvass for opinions of various clients in different countries towards the recent fall in stock prices in the European markets. You feel you do not have time to do this task on your own in time. Which of the options do you consider first?

Seek help from other trainees to help you to write the report, and ask other trainees which clients should be contacted. (24%)

Seek help from other trainees to help you to write the report, and contact some or all of the ten clients to ask them for their opinions. (47%)

Research the information which could be obtained from the clients and punctually write a report. (28%)

 

 

Scrapping the Human Rights Act might mean more petitions to Strasbourg – ALBA and the Bingham Centre at Inner Temple



Scrapping the Human Rights Act has become a incredibly hot potato with Theresa May’s recent announcement. Theresa May, a geography graduate from St Hugh’s College at Oxford, announced triumphantly, “We all know the stories about the Human Rights Act, the illegal immigrant who cannot be deported because – I am not making this up – he had a pet cat.”  This unfortunately led David Allen Green, the leading legal blogger, to propose that, “The Home Secretary’s conference speech shows she does not know what her own department is doing”, in an article published yesterday on a blog for the New Statesman.  As Allen Green himself provides, ” it has already been dealt with by respected critical sites such as Full Fact and Tabloid Watch.”

Reviewing the precise value of the Human Rights Act 1998 in the jurisprudence of England and Wales seems to be a worthwhile exercise, irrespective of it having turned into somewhat of a ‘political football‘. For example, parts of the Telegraph, latterly not particularly sympathetic towards David Cameron or Ken Clarke perhaps including Cristina Odone, have supported this ‘attack’ on the Human Rights Act, even proposing that Theresa May is a lioness who could find herself in Number 10. Such jurisprudence issues are extremely complicated, and leading commentators such as Joshua Rozenberg, Britain’s best known legal commentator according to very many, appear to advise that the debate must be conducted in a different light from the political grandstanding (article here). Rozenberg assessed the situation involving our Lord Chancellor as follows, “When Dominic Grieve, the attorney general, was asked at a fringe meeting for his reaction to May’s speech, he insisted he was “completely comfortable” with the idea of replacing the existing legislation with a British bill of rights.” However, Rozenberg says straight-up that there are legal cracks within the foundations of the Conservative part of the Tory-led government, “May is deliberately distancing herself from her coalition colleagues on human rights – including the justice secretary, Ken Clarke, a firm supporter of the Human Rights Act.”  However, only a few weeks ago, the Daily Mail observed nervously that, “The Deputy Prime Minister won his loudest applause with an impassioned defence of the Human Rights Act – insisting it would never be scrapped while he was in government.”

It is within this context the open discussion at the Honourable Society of Inner Temple last night could not have come at a better time. The seminar is jointly hosted by the Constitutional and Administrative Bar Association (ALBA) and the new Bingham Centre for the Rule of Law. The speakers included Lord Justice Laws, Lord Pannick QC and Professor Philip Leach, London Metropolitan author, and author of numerous publications including the bookTaking a case to the European Court of Human Rights“.  The session was totally packed out, and the speakers took many questions from leading practising international barristers and academics.  It is easy to overstate the opposition towards the Human Rights Act, but it was pointed out only two countries are openly questioning the legitimacy  of the European Convention of Human Rights – Russia and the United Kingdom.

LJ Laws has long been in favour of developing domestic jurisprudence in the context of the Human Rights Act and common law. John Laws felt that “the cases were beginning to speak, but the Convention was an useful guidance”, and reaffirmed the influence of a graduated approach to proportionality, an argument which Laws noted had been accepted by Bingham (see for example Regina v. Secretary of State For The Home Department, Ex Parte Daly). Laws reminded the legal audience that we, as a country, have always been in a position to influence Strasbourg, as for example the Pretty v United Kingdom case (a review of this is given here). Laws mooted, however, why should the judges be deciding upon social policy. Considering particularly articles 8-12, Laws provided that often lawyers had to decide where to strike the balance in certain issues between competing interest, but fundamentally lawyers were there to establish the framework and issue – however Laws warned that the nature of this exercise in jurisprudence gives rise ultimately to issue of a philosophical nature.

Lord Pannick charted the history of the reaction to our history right legislation, in relation to Strasbourg. Pannick reminded the audience that criticising the Human Rights Act, in relation to Europe, was not a recent phenomenon. In relation to the Gilbraltar incident, Michael Heseltine – as far back as 1995 – said, “We shall do nothing. We will pursue our right to fight terrorism to protect innocent people where we have jurisdiction, and we will not be swayed or deterred in any way by the ludicrous decisions of the Court.”

According to Lord Pannick, prisoners’ voting rights and the use of hearsay have also produced conflicting opinions from the UK and Strasbourg, and indeed these legal conflicts appear to be ongoing (see for example the present case of Zainab al-Khawaja, where the original argument was heard by the Court in 2010). Lord Pannick proposed that this conflict arose from various sources. Firstly, Lord Pannick felt there is a general resentment of European law amongst Conservative “elements”, and many of the population. Secondly, the objection to the European Convention of Human Rights could part of a wider objection to foreign law. Lord Pannick indeed reminded the audience that a Conservative MP, lawyer and judge, David Maxwell-Ffye, was instrumental in drafting the European Convention of Human Rights. Lord Pannick then identified a possible perception from the UK voting public, that judges should not be deciding on social policy: for example, the argument for prisoner voting is not a matter for judges, but should be a matter for parliament. Fourthly, the European system does not appear to be working well operationally – the strain of its backlog affects the time that can be devoted to cases. Lord Pannick felt that the setting up of the Joint Commission of Human Rights had been a welcome step, particularly for the screening of appropriate human rights cases and appointment of suitably-qualified judges. With the chairmanship of the Council of Europe only meant to last six months, Lord Pannick felt that there was limited damage which could in fact be inflicted by the UK on the jurisprudence of the rest of Europe.

Lord Pannick did not feel fundamentally that the criticisms of the HRA amounted to much. For example, the HRA expressly recognises that the UK Parliament is not bound by the Convention. If Parliament wishes to exclude voting by prisoners, the Human Rights Act does not prevent this. The judges can decide whether the defendants comply, but, according to Lord Pannick, it is equally important that the last word lies with parliament. Lord Pannick instead felt that a much more difficult issue is the relationship between parliament and the Strasbourg Court. Theresa May even if she repealed the HRA would still leave the jurisdiction of the Strasbourg Court intact – our own judges have no effect on the jurisprudence. If the 1998 Act were to be repealed, as parliament is overeign, the number of British cases to Strasbourg would increase according to Lord Pannick. Lord Pannick felt that an useful to look at the relationship between our Supreme Court and Strasbourg would be to look at the ‘control of its docket‘ jurisprudence, in other jurisdictions of international law.

Lord Pannick ultimately felt that the power of our parliament to define power Strasbourg as a body is limited. It would be unprecedented for us to withdraw from the European Convention of Human Rights, incompatible with membership of the EU, or Council of Europe. According to Lord Pannick, the concept of European minimum standards is of vital importance to us. There may be be occasions when national or international considerations are that our judges do not originally recognise that human rights are being breached (e.g. gays in the military) It would be difficult for us to expect that other countries such as Russia should comply with the Convention, if we do not. Lord Pannick therefore felt that the situation now required an accommodation on both sides. The Strasbourg is supposed to overrule a National court only in cases of fundamental significance, where the national supreme court has made an error of principle. If Strasbourg does not follow this principle, it may risk the growth of political opposition. However, likewise, Lord Pannick identified that the Supreme Court should not supinely follow Strasbourg, either. The Government for example accepted the DNA ruling in preference ot the House of Lords. If the Supreme Court were to be asked if the voting rule asked about the prisoners’ voting again, Lord Pannick felt that the Supreme Court would be unlikely to say it is compatible with the European Convention of Human Rights.

Professor Leach discusses in some detail the impact of the Greens, Hirst and Scoppola cases (please keep an eye on the blogs from @carlgardner and @adamwagner1). Professor Leach emphasised Lord Hoffman’s observation that “human rights are universal in abstraction but national in application” , made in his seminal speech entitled, “The Universality of Human Rights” as the Judicial Studies Board Annual Lecture on 19 March 2009.  This was described in the Solicitors Journal on 7 April 2009 as follows,

Lord Hoffmann, one of the most senior law lords, has launched an extraordinary all-out attack on the European Court of Human Rights.

Giving the annual lecture at the Judicial Studies Board, he accused the Strasbourg court of trivialising and discrediting human rights, directly criticised its president, Judge Jean-Paul Costa, and warned that its four-year backlog of cases is growing.

No journalists were present when the speech was made last month, but it was published later on the JSB’s website, a step which could not have been taken without the law lord’s blessing (see: The Universality of Human Rights).

The discussion from the panel and the members of the audience was very thought-provoking, but it was a constructive one representing the genuinely diverse opinions in the community of the Barristers.

 

 

'Business Brief', the official BPP magazine for business education, is appointing its Senior Editor



The text of this advert is below. This is an important publication by BPP, promoting business and business education, and I really hope you apply, if interested. This position is only suitable for current students (or students with accepted places) of BPP across any of its campuses.

Fancy yourself a journalist? Enjoy project managing and working as a team?

Business Brief needs a new Senior Editor, who will manage the publication of two editions during the period October 2011- May 2012.

The role includes:

• Recruiting a team of students from October 2011 to help produce articles and process submissions.

• Co-ordinating submissions from students across all BPP campuses.

• Liaising with members of BPP Business School and Businesses in order to produce content for the publication.

• Working with designers and printers to get each issue produced.

• Organising the distribution of copies to the profession, all BPP campuses and selected universities.

The role is time consuming but extremely rewarding and now comes with a £1000 contribution towards course fees in 2011/2012.

If you would like to apply for the position, please send your application to Laila at the above email address containing:

• Brief details of any publishing/project management experience you have (bullet points preferable) and;

• An explanation of why you would be suited to the role (maximum 250 words).

Experience is not necessary but will be taken into account if relevant as part of your overall application. You will need to have accepted a place or already be registered on a programme at any once of BPP’s campuses in 2011/2012 to be eligible to apply.

Application Deadline 14th October 2011

For assistance with the above please contact: Laila Heinonen, BPP Chief Executive of Students (Details are on Blackboard)

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