Bigger. Better. Both?
30 July, 2012
A $10b (yes, ten) billion #BigLaw firm?
Earlier this month I was quoted in the Law Institute Journal (of Victoria, Australia) musing whether there might be “ten $10 billion [global] law firms in ten years’ time”. This proposition caused one of the #BigLaw managing partners quoted in the same article to suggest “somebody needs to have a cold shower”. Is this a [...]
25 July, 2012
The phenomenal power of social media
Today was a landmark. Beaton’s First Movers seminars added to their long-standing successful over-breakfast format in Melbourne and Sydney to reach participants in the USA, UK, New Zealand, Singapore and many other parts of Australia via WebEx and Twitter. A LinkedIn First Movers group enables the dialogue to continue 24/7 anywhere.
10 July, 2012
Disruptive business models in law: Have we seen this before?
In 1994 Peter Drucker wrote “Some theories of the business are so powerful that they last for a long time. But eventually every one becomes obsolete”. How true this may prove to be about large firms is becoming a hot topic amongst leading commentators on the legal profession in many parts of the world. Theory [...]
10 July, 2012
“There’s no entitlement whatsoever to incumbency” writes Adam Smith Esq
In the opinion of Bruce MacEwen large law firms face a potentially ‘apocalyptic’ future. Regarded by many as the leading commentator on the economics of what’s rapidly becoming known as #BigLaw, Bruce recently wrote a major piece on Adam Smith Esq, his blog. He drew extensively on two Beaton Capital posts.
8 July, 2012
Future of law firm profitability analysis feautured in the Global Legal Post
On 3 July Global Legal Post–a leading e-zine covering the legal profession–featured my article arguing that without re-invention profits in the BigLaw industry will plunge in the next decade. Well-managed law firms are profitable now, but for how long I ask. And I point to at least some of the answers. By George Beaton, is a director [...]
4 July, 2012
‘Factories’ and ‘Brain Surgeons’ – Insights into management consulting
Our recent analysis of the world’s 10 largest management consulting (MC) firms provides insights into its competitive dynamics. The MC industry is far from homogeneous with a wide range of firms varying by discipline, range of services, size and degree of globalisation. But our analysis of the Big 10 demonstrates something much more fundamental than these [...]