Law Firm Strategies for the 21st Century

Strategies for Success

Edited by Christoph H Vaagt

Publication date:

01 December 2013

Length of book:

252 pages

Publisher

Globe Law and Business

Dimensions:

240x160mm
6x10"

ISBN-13: 9781909416161

Law firm partners have long resisted the notion that they need a strategy. However, markets change and the landscape has become increasingly competitive. Law firms that want to remain competitive need to think about and engage in strategy development; those firms which have done so are now undeniably in a better position than those which have not. Published in association with the Law Firm Management Committee of the International Bar Association, this practical title is the first in Globe Law and Business’s series on the business of law dedicated to exploring strategic development in law firms. It includes contributions from leading academics, consultants and law firm partners who share their insights and experience in strategy development and management. The content is organised around the market and the resource side of law firm management, and offers new ways to think about strategy and how to discuss it in the context of a partnership. Whether you are a managing partner of a small, large or international law firm, this book offers points of views which have never before been aggregated in a single volume. The book may also be helpful for consultants and academics in developing research in this area. This volume addresses in a most practical manner those questions which are of relevance in today’s law firm management.

Introduction 5 Máximo Bomchil M&M Bomchil Christoph H Vaagt Law Firm Change Consultants General aspects of law firm strategies Strategy in law firms – what it is and why we should care 11 Bente R Løwendahl BI Norwegian Business School The role of professional ethics in shaping law firms’ strategy 21 Tomasz Wardyn´ski Wardyn´ski & Partners Easy and difficult at the same time: some general considerations on law firm strategy 29 Peter Kurer BLR & Partners AG Drivers of change – driving strategy in law firms 45 Mats Anderson Linklaters; clear blue water Trends in the legal industry: a US perspective 55 David Barnard Miriam Herman Blaqwell Emerging market response to trends shaping the legal market 77 Irina Paliashvili RULG-Ukrainian Legal Group, PA; CIS Local Counsel Forum Resource side strategies Resource-based approach to strategy 85 Dina Gracheva Dow Chemical Introducing a balanced scorecard in a multijurisdictional partnership 93 Peter Oberlechner Wolf Theiss Career paths in law firms – the need for flexibility 105 Jaime Fernández Madero Fernández Madero Consulting Strategic challenges of new firm leadership 117 Patrick J McKenna McKenna & Associates Inc Crafting and executing better strategy: emerging systems and structures in law firms 123 Rob Millard Venturis Consulting Group LLP Improving efficiency in law firms in times of flat turnover and increasing costs 139 Ashley Balls LegalBestPractice Market side strategies Law firm strategy: serving the results-driven in-house law department 153 Richard Given HSBC Paul Lippe OnRamp Systems Professionalising pricing and procurement processes 163 Silvia Hodges Silverstein Columbia Law School; Fordham Law School; TyMetrix Legal Analytics The changing relationship between clients and law firms 175 Mark Jones Addleshaw Goddard LLP How to screw up your international expansion: a 15-step guide 191 Robert C Bata WarwickPlace Legal LLC How to merge: lessons from 20 years of law firm mergers 203 Lisa R Smith Fairfax Associates What can your firm do to win and keep clients today? 215 E Leigh Dance ELD International LLC Corporate reputation: definitions and dimensions 223 Will Harvey University of Exeter Business School; Centre for Corporate Reputation, Saïd Business School, University of Oxford Tim Morris Centre for Corporate Reputation, Saïd Business School, University of Oxford Michael Smets Novak Druce Centre for Professional Service Firms, Saïd Business School, University of Oxford Reputation and relationship capital of law firms 235 Philip Rodney Burness Paull About the authors 245

The book emphasizes the market and resource side of law firm management, pointing out new ways to look at, think about and carry out the right strategies with a view to staying a step ahead of competitors.