Download or read book The Future of Profitability Models and Analysis for Law Firms written by Dwight Floyd and published by Ark Company. This book was released on 2019-05 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: The convergence of changes in the legal landscape - wider economic pressures, the growing implementation of legal technologies, the disrupting influence of alternative service providers and their competitive pricing offerings - mean that the corporatization of the law firm is well underway. The "business of law" is now more of a priority than ever before, with procurement and pricing professionals playing increasingly significant roles within firms and a growing focus towards the measurement and analysis of profit, rather than simply its generation, becoming apparent. With this becoming common practice, it is now essential for those at the helm of their firm's profitability to take a deep dive into its real fundamentals.The Future of Profitability Models and Analysis for Law Firms provides this kind of comprehensive exploration into the recent and revolutionary approaches firms are adopting in their pursuit of greater returns in this current period of renaissance for the law. Featuring contributions from field experts and thought leaders - including pricing directors, chief financial officers, and management consultants - combines trendspotting, exploratory intelligence with case studies and real-world examples of best practice to act as a launchpad for application and instruction.
Download or read book Paralegals Profitability and the Future of Your Law Practice written by Arthur G. Greene and published by American Bar Association. This book was released on 2003 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides advice on how to hire and use top notch paralegals to achieve success in providing clients with quality service.
Download or read book Future Law Firm Business Models written by Michael Roster and published by . This book was released on 2018-12 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the trends and future developments that will fundamentally change the legal market.
Download or read book Profitability Ratio Analysis for Professional Service Firms written by Eunyoung Whang and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Business Administration/Accounting
Download or read book Remaking Law Firms written by George Beaton and published by . This book was released on 2016-06-07 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides examples of innovative and successful business models from remade law firms to inspire change that goes beyond thinking and planning, and leads straight to implementing change and better client service.
Download or read book The Law Firm of the Future written by John M. Westcott, Jr. and published by Edward Elgar Publishing. This book was released on 2018-09-28 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: During the “golden age of law firm growth” from the late 1960s until 2007, most large law firms adopted a default growth strategy, increasing practice areas and offices, aided by the momentum of the tail winds of law firm growth. Since the recession of 2008-2009, however, the legal marketplace has drastically changed. In this timely book, Jay Westcott suggests strategic building blocks that firms can adopt in order to adapt themselves to this radical change and prosper as lasting institutions.
Download or read book Future Proofing Mid sized Law Firms written by ALBER and published by Ark Company. This book was released on 2020-05 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some consultants predict that by 2035 more than half of the traditional law firms in the Midsize market will no longer exist. Many midsize firms are feeling the pressure. While Big Law firms crow about their commitment to innovation, most Midsize firms are still trying to figure out where they fit in the new legal landscape that is taking shape.
Download or read book A New Taxonomy written by Bruce MacEwen and published by . This book was released on 2014-05-14 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New Taxonomy provides a path-breaking analysis of the global "BigLaw" industry, identifying seven distinct species of law firm business model - their historic roots, future prospects, strengths and weaknesses, and the specific management techniques, priorities, and perspectives they require. Written with analytic rigor but an urbane and engaging style, it brings new perspective to a globally important industry, clarifying the law firm business landscape as never before. Here's what a few people are saying: "Wow! What an incredibly insightful and valuable work on taxonomy. Really, really makes sense on so many levels. I have read it twice now, and am incorporating so many of your ideas into what we need to do;" (Managing Partner, AmLaw25); and "My test of a good business book is simple; does it provide context that clarifies your thinking? This book does. It's a good one. It paints the BigLaw order of battle in vivid colors on a broad canvas. It helps you see the whole battlefield, not just the skirmishes." (from the Foreword by David Morley, Global Managing Partner of Allen & Overy The author is a lawyer and the President of Adam Smith, Esq., an industry-leading management consultancy to law firms and the legal industry around the globe. He has written for or been quoted in: The New York Times; The Wall Street Journal; Fortune, Bloomberg; and other publications too numerous to mention, and is a sought-after speaker at law firm retreats and legal industry conferences around the world. Previously, he practiced securities law for nearly two decades in New York. Bruce was educated at Princeton University (BA magna cum laude in economics) and at Stanford Law School (JD). A native Manhattanite, he lives on New York's Upper West Side with his wife and their dog. KIRKUS FEATURED REVIEW An analytically rigorous but accessible guide to the shifting world of Big Law.MacEwen has built a strong reputation within the legal industry as an innovative thinker. He practiced law for years in New York, founded the popular website AdamSmithEsq.com and has written for numerous periodicals about legal issues. In his second book, he parses "Big Law" into its elemental, commercial parts, detailing the basic categories of law firms, including "Global Players," "Capital Markets" and "Boutiques." He proceeds in the spirit of biological taxonomy, linking his approach to the Linnaean method of classifying different types of natural life. He aims to use the taxonomy not only to describe these firms, but also to demonstrate the evolving nature of competition in the legal sphere: "I believe an analogy to biological classification is useful...because there's competition within species (between individual firms who are essentially alike) as well as competition across species (between, e.g., global firms and boutiques)." For the firms themselves, understanding these classifications, and their places within them, is necessary to gauge their target audiences, and to market themselves effectively to prospective clients. The author deftly presents each of the seven types, highlighting its unique characteristics, its advantages and disadvantages, and its "managerial priorities." He concludes with an engaging, original view about the future of law firm competition, partly inspired by Stephen Jay Gould's "punctuated equilibria theory": "We have enjoyed a long period of stasis, but now we may be at the start of a period of intense speciation, with new forms of life emerging-some of which will prove adaptive and survive and others of which will be rejected by the antibodies of the marketplace." Even for the nonexpert, MacEwen's prose is clear and mercifully free of gratuitous jargon.A sharp, concise meditation on the business of law, and by extension, an important commentary on the state of the economy as a whole.
Download or read book Accelerating Trends in Law Firms written by ZEUGHAUSER and published by . This book was released on 2022-01-15 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global pandemic and simultaneous economic disruption is accelerating many challenging trends for law firms across the globe with unprecedented velocity. Law firm leaders, individual practitioners, C-level law firm executives, bankers and clients are all faced with growing uncertainty about the future and are looking for resources to help navigate rapid change. This book, edited by Peter Zeughauser of Zeughauser Group, will provide valuable insights and guidance on these trends and how best to embrace and harness them for continued success. It brings together world-renowned, skilled experts with different perspectives on the key challenges and opportunities that have arisen in the last few years, and continue to increase in importance. Key issues covered include: -Why and how to revisit your strategy plan; -Effective client relationship management during a crisis; -Wellbeing of partners and the workforce; -How to leverage social responsibility and pro bono programmes; and -Diversity and inclusion. This title will also consider the impact of remote working on the profession, including how to build a stronger culture with a remote workforce, how to reduce your real estate costs and how remote working has impacted innovation and decision making.
Download or read book The Future of Legal Services written by Helen Roche and published by . This book was released on 2012 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: The prolonged global economic downturn has created a new world order for the legal industry, and the ramifications have been felt strongly in the UK. Faced with the threat of shrinking profits, law firms have been forced to re-examine fundamental aspects of their businesses such as their pricing structures, workflows, and the business model itself, all in the pursuit of greater efficiencies and the ability to remain competitive. This second edition examines the trends now shaping the legal profession as it seeks to maximise profitability in what is a very difficult market. This report looks towards the future to identify the issues and developments that will shape the UK's legal industry going forward. This all-encompassing report contains articles written by respected legal practitioners and industry specialists, and the sought-after views and predictions of these experts will address some of the questions, concerns, and even some of the fears held over where the future of legal services lies.
Download or read book Client Value and Law Firm Profitability written by Jim Hassett Ph. D. and published by Legalbizdev. This book was released on 2014-09-01 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The primary goal of this book is to help law firms adapt to a rapidly changing marketplace by providing insights into what has worked at other firms and what hasn't. Many articles and books have been written by law school and business school professors and by countless consultants analyzing how the legal profession is changing. The only thing that's been missing from the conversation is public statements by the people who actually run large law firms. These senior decision makers rarely publish anything on their tactics and strategies. They are the ones who deal with these issues every day and whose very livelihood depends on coming up with the right answers. What do they think? To answer this question, LegalBizDev founder Jim Hassett interviewed leaders from 50 AmLaw 200 firms in 2013 and 2014. This is the only research on the topic which is based on confidential in-depth interviews with chairs, managing partners, senior partners, and firm executives such as CEOs, COOs, and CFOs. The name of every individual who participated in the research is confidential and all quotes are anonymous. This approach has enabled senior decision makers to speak frankly and openly about what they really think. Since the participants in the study were promised that they would not be quoted by name, they were unusually frank in their responses, including the law firm chairman who said that "lawyers are about as dumb as you could possibly be about understanding how our product is made. The lawyers who understand how to make it and who can manage that process efficiently are going to be the winners." The law firm leaders also felt free to speak about both the business problems they face and possible solutions, like the managing partner who noted that "I have a $10 million practice. But that could be a disaster for a firm, because it could cost them $11 million to get $10 million. But nobody ever talks about it that way." According to Altman Weil Principal Tom Clay, "Although Jim's interviews were with 50 large law firm leaders, his commentary and takeaways should be taken to heart by every law firm, whatever its size."
Download or read book The Mechanics of Law Firm Profitability written by Toby Brown and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Law Firm Strategies for the 21st Century written by Christoph Vaagt and published by . This book was released on 2020-09-30 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the legal landscape becomes increasingly competitive, it is clear that law firms do not always do enough to remain at the top of their game. Firms that have embraced the challenges presented by increased competition are undeniably in a better position than those that have not.This title aims to help partners understand what they can - and what they should not - do to chart the course of their firm most effectively, and covers current topics such as digitalisation and the emergence of new competitors from outside the market. Keeping abreast of market developments is an essential part of law firm management and this edition focuses on helping partners, and their teams, to develop the right strategy.The second edition of this practical title in Globe Law and Business's series on the business of law offers up new ways to think about strategy and how to explore it in the context of a partnership. It includes contributions from leading academics, consultants and law firm partners who share their insights and experience in strategy development and management.Whether you are a managing partner of a small, medium or large law firm, this book offers a variety of viewpoints in a comprehensive single volume. As well as partners and their teams, it will also prove useful for consultants and academics in developing research in this important area.
Download or read book Adjusting the Numbers written by Alex Davies and published by Ark Company. This book was released on 2021-03-30 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adjusting the numbers: The future of finance in law firms looks back at a year like no other in our lifetimes, highlighting pricing, budgeting, strategic planning and people management principles, and identifying good compensation practices that can be applied during the pandemic, its gradual cessation, and beyond.
Download or read book The Strategic Law Firm written by Duncan Hart and published by Ark Company. This book was released on 2010-11-30 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: This uniquely practical report will help you devise an effective strategic vision for your firm, and provides the tools to ensure that vision is achieved.
Download or read book BigLaw written by Mitt Regan and published by University of Chicago Press. This book was released on 2021-01-12 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Recession intensified large law firms’ emphasis on financial performance, leading to claims that lawyers in these firms were now guided by business rather than professional values. Based on interviews with more than 250 partners in large firms, Mitt Regan and Lisa H. Rohrer suggest that the reality is much more complex. It is true that large firm hiring, promotion, compensation, and termination policies are more influenced by business considerations than ever before and that firms actively recruit profitable partners from other firms to replace those they regard as unproductive. At the same time, law firm partners continue to seek the non-financial rewards of being members of a distinct profession and are sensitive to whether their firms are committed to providing them. Regan and Rohrer argue that modern firms responding effectively to business demands while credibly affirming the importance of non-financial professional values can create strong cultures that enhance their ability to weather the storms of the modern legal market.
Download or read book Profit and the Practice of Law written by Michael H. Trotter and published by Createspace Independent Publishing Platform. This book was released on 2012-04-09 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1960, powerful and influential law firms in America have shifted from professional service organizations to profit-oriented businesses. To explain how and why this transformation has occurred and how it has affected both lawyers and clients, Profit and the Practice of Law examines the histories of the eight largest firms in Atlanta, Georgia, and similar firms around the country. Over the past thirty-six years, the number of lawyers in the United States has risen more than 225 percent, large law firms have grown by more than 700 percent, and compensation has increased greatly in excess of inflation. Ironically, as these firms have prospered, their lawyers have become unhappier and more dissatisfied, and the public has become more distrustful and disdainful of them. Profit and the Practice of Law discusses possible remedies for this malaise and what can be done to reduce the cost of legal services and to reform the practice of law for the benefit of clients, lawyers, and the community as a whole.
