Ten Obstacles to Effective Strategy In this article I examine the main reasons why professional are firms are typically littered with uncompleted strategic projects and failed initiatives. The ten obstacles that I have identified can of course be addressed by better processes. However, in addition, I plan in an ensuing article to set out what […]
Lateral hiring in professional service firms has an uneven track record. Statistics consistently show that hiring a ready-made partner from another firm often results in disappointment both for the firm hiring them and in terms of the new partner’s own expectations.
Professional service firms are typically littered with uncompleted strategic projects, failed initiatives and strategic plans that have remained in a drawer (or a computer file) almost as soon as written. It has often been observed that professionals are better at ideas and planning than in putting those plans into reality by means of effective implementation.
The last twenty years or so have seen considerable debate about the most suitable method of compensating and rewarding professional service firm partners and members.
Changes will involve valuation issues, be it the valuation of firms or shares in them. While traditional methodologies of valuation may be used as comparative benchmarks, they do not necessarily focus on the real value involved in any transaction.
Originally designed for the Law Society of England and Wales, but relevant to all law firms globally, Edge International Principal Nick Jarrett-Kerr has created a series of four webinars on the topic of Planning for Recovery. Each webinar lasts about twenty minutes and is available free of charge.
Adverse conditions can provide opportunities for firms to dramatically enhance their competitive position in a relatively short period of time.
By implementing three tools, we can gain (or regain) close and more trusting relationships with both colleagues and clients – despite remote working.
The goal of an effective evaluation system should be to get the best out of the individual in the future rather than just scoring the past.
When I look at the strategic documents of law firms, I often see lack of clarity; it often seems to me that the plans form a patchwork quilt made up of many separate plans and business recipes of different practice groups – and can sometimes be as many as there are partners in the firm. […]