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.
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.
Time To Rethink Partnership?
Partnership, or an equivalent, is the predominant form of organization for law firms large and small. It is a structure that made sense when even the largest firms were under 200 lawyers and were primarily single office operations.
Lessons On Governance
Effective management and governance of a firm’s resources represent one of the most critical challenges encountered by law firms at repeated intersections in a firm’s development cycle.
Does Benchmarking Measure Up?
“What are other firms doing?” It’s a question we hear frequently. Lawyers have a strong inclination to look to other firms for sources of legitimacy when it comes to the practice of management.
Leadership At The Top: What Works?
There are nearly as many governance structures as there are firms.
