If there is a unifying theme to Edge International, it is that most of our engagements have strategic overtones. That is, we work with clients to achieve objectives that have an important impact on the firm’s growth, profitability, market positioning or service offerings. Among the strategy services we are called on to provide are:
Many law firm’s strategic plans look exactly alike. Our philosophy is that strategy should be uniquely crafted to each firm. We understand that, to be effective, the entire partnership must be involved in the planning process.
For firms with an existing strategic plan we offer a one day update that considers the appropriateness of existing strategies, seeks out new opportunities and sparks renewed enthusiasm for implementation.
We believe that a firm’s culture is an important competitive advantage and a major issue in any planning process. For this reason we use the Edge International Cultural Inventory to measure firms’ cultures, and help them understand the cultural aspects that support strategy and those which must be overcome.
- A large firm held a dominant position in several practice areas that were becoming increasingly commoditized through price competition from smaller firms. We assisted the firm in developing a strategy that selected the practices where the firm had the greatest strengths, and building a competitive advantage through technology and specific capabilities. The result was they were able to maintain both their dominant position and current pricing by providing client benefits that smaller firms could not cost-effectively provide.
- A small general practice firm was finding it increasingly difficult to maintain its client base and compete with the large firms that dominated the marketplace. Working with the firm, we helped them reverse their existing strategy of adding new practice areas to enhance their full service image, and focus on a few highly profitable practices where they enjoyed a unique market position. The result is increased profitability and a more stable practice without the necessity of changing their culture to accommodate an increased number of lawyers.
- Two large firms were involved in protracted merger discussions. Both firms were eager to achieve the results of the merger but neither felt completely comfortable with the other. Using the cultural inventory, we were able to demonstrate that, because their cultures were sufficiently different, many of the hoped for synergies from the merger were probably unachievable.
- Strategy Review carried out for a prominent Asian commercial law firm of 200 lawyers. We were able to help the firm to define its strategic intent to become the dominant independent commercial firm and then worked with them to create a strategic plan that encompassed five strategic projects each with implementation plans and measurable criteria. This work was followed up some time later by individual business planning sessions with every partner to enable them to produce coherent and action-oriented practice group business plans.