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What is undisputed: modern technologies provide new possibilities for the provision of core legal services (preparation and management of documents, legal research and the analysis of large volumes of documents are examples that are often adduced), for the transfer of knowledge within the law firm, for marketing and for, say, the financial management of a law firm.
Executive School Programmes:
Only: strategy, business model design, client orientation, process optimisation, risk management, leadership, management through key figures, and communication are issues which we will have to focus on more strongly once again. A law firm will not become more successful because a hired technician installs a new software. Such an investment must be backed by a consistent strategy. The partners of the law firm must be clear about what services they want to provide, which market segments they want to target, which markets the law firm wants to be present in and how it wants to distribute its services. This requires clear-cut determination and demarcation. Only in this way will a law firm arrive at its very own profile in the market and thus become sufficiently visible among existing and potential clients.
In my blog I would like to take up the cudgels for an integrative view of law firm management. I would like to initiate a debate about
- trends in the law firm market,
- strategy development,
- possible forms of organisation for law firms,
- the consistent orientation of law firms towards their clients’ interests,
- dealing with risk,
- demands on law firm partners’ management behaviour,
- the recruitment, encouragement and promotion of young lawyers,
- the financial management of law firms and
- problems concerning the establishment of a law firm, its growth and its succession plan for when partners retire.
I’m already looking forward to debating these issues with you in this small series! See you soon!
Yours, Leo Staub
This article is part of the series «Major Trends in the Legal Market». Learn more in the other articles:
- The Major Trends in the Legal Market – Globalisation
- The Major Trends in the Legal Market – Liberalisation
- The Major Trends in the Legal Market – Disaggregation
- The Major Trends in the Legal Market – it’s Technology, Stupid!
- The Major Trends in the Legal Market – More for Less!
- The Major Trends in the Legal Market – are the millennials fit for the law business?