Over a decade ago, corporate and law firm strategists developed 5 and even 10 year strategic plans. Yet years of disruptive change have rendered stagnant 5-10 year plans ineffectual.
We sometimes hear firms express surprise that competitors are able to offer similar services at significantly lower prices than they are able to offer.
Many firms these days are focused, rightly, on being client facing and on differentiating themselves from competitors.
Certainly over recent years there has been a strong focus in all types of organizations, law firms included, in developing and then harnessing the power of a shared purpose.
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.