As law firms continue to face a rapid rate of change in the legal industry, strong leadership will be critical to agile and effective decision-making, and too great of an emphasis on democracy will hamper firms in their efforts to compete and adapt to the changing marketplace. By defining the appropriate leadership criteria and selection processes and investing in partner consultation and leadership development – firms can better balance historically democratic partnership models with the stronger leadership models required to succeed in the future.
In an effort to better align services with client needs and differentiate the firm from competitors, many law firms have adopted some form of an industry focused strategy. These efforts have seen varying degrees of success, in part driven by the firm’s internal organization of the industry effort. Like many aspects of running a law firm, there is no one size fits all model.