Insights
The Insights series draws upon our collective consulting experience to address topics that we consider of current interest to the senior management of law firms.
Creating A Culture Of Innovation
In our June Insight, we laid out the business case for innovation. We cited increasing client pressure to rethink operating models, a rise in substitutes for more traditional delivery of legal services, and a strategic opportunity to differentiate.
Leadership Succession: Three Critical Steps
Succession planning appears to be one area where both law firms and corporations are underperforming.
Making The Business Case For Innovation
Until recently, law firms have seen little need to innovate…Of course, those days are long gone, and while most law firms today recognize that it takes more than being a great lawyer to be a market leader, and a follower strategy isn’t necessarily a winning one, only a limited number of firms are seriously innovating.
The Amlaw 100: Averages Don’t Tell The Whole Story
The American Lawyer list of the 100 highest grossing firms in the U.S. was released a few weeks ago.
Success In Strategy Implementation
Law firms don’t appear to be outperforming other businesses on this metric.
Managing Instability
While some law firms have reported strong financial results over the last several years, others have struggled to the point of instability. For many leaders we speak to, the most startling feature of these recent declines is how rapidly they seem to come about.
Finally Time To Deal With Pricing
Back in 2008, we and other industry observers predicted that alternative fee arrangements would accelerate as the legal market dealt with decreased demand and price sensitivity brought on by the recession. We were only half right.
Overcoming The Value Extraction Bias
There is a fascinating irony about partnerships. While the notion of partnership is founded on the concept of shared interests, many firms undermine these interests with a laser-like focus on short-term results in the form of maximizing profits per partner.
