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On 17th May, the LexisNexis Aspire training and networking group met for the second event of the year. The session, which was facilitated by Sophie Gould, included an icebreaker workshop on understanding business strategy, a practical legal skills session on how to prepare for GDPR and a guest speaker Q&A session.
Understanding business strategy
The event kicked off with an introductory workshop on understanding business strategy, led by Lex Fackrell, Senior Strategy Associate at LexisNexis.
Strategy is a widely-used word, yet its widespread use can obscure the necessity of pinning down its essential components. Lex explained that, in essence, strategy is:
A well-thought-out strategy means you understand priorities and in this way it keeps you focused and in the right direction for your business. Whilst having a strategy can never be an automatic guarantee of success, it helps you to be mindful of what’s important for your business in order to achieve desired results. Allowing you to make efficient use of your time, energy and resources.
Some key tools for putting together an effective strategy are:
Following this introduction to strategy, the attendees broke up into smaller groups where they looked at a case study, discussed the external and internal factors and applied the SWOT analysis.
To close off the Workshop, Lex shared some practical tips on how in-house lawyers can impress their strategy team. In particular, it was discussed that skills of key importance are:
Legal skills session: GDPR
In the second session, Emma Drake from Bird & Bird provided a practical guide on how to prepare for the European General Data Protection Regulation (GDPR) which will apply in the UK from 25 May 2018. In particular, looking at some of the key changes and what the legal team can do
Some of the key changes:
So what can businesses do to prepare?
Access phase 1 and phase 2 of the GDPR Planner for everything you need to do to prepare your business for the new GDPR.
Guest speaker Q&A
In the final session we were joined by Annie Flower, Executive Director in the Legal Department at Goldman Sachs. Annie is a member of the Goldman Sachs Women’s Network, and also serves on the Legal Business Services Committee, which represents paralegals within the Legal Department. Annie was first runner-up in the First 100 Years (FHY) Inspirational Women in Law Award in 2016, and she also serves as an Ambassador to the FHY Project.
Annie shared her insights on how to succeed in-house. Some of the top tips included:
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