Bigger. Better. Both?
19 October, 2015
Generational change is slow in law firms
A recent study reveals the dangers of being slow to in making generational changes in law firms. Leadership in AmLaw100 firms is concentrated in the hands of older baby-boomers and members of the Silent Generation, born before the end of World War II. But while there is clear evidence of generational change occurring in the […]
30 August, 2015
Ides of Maturity reflected in State of Legal Market Report
In March 2014 my colleague George Beaton posted The Ides of Maturity for professional services firms marks a modern-day turning point, an article based on his keynote address to the 2014 Client Choice Awards. George’s view of the future has recently been reinforced by a report on the state of the Australian legal market. This […]
8 April, 2015
#LegalLean… coming to the legal services ecosystem near you?
This is a time when early adopters of legal services innovation are experimenting with cognitive computing, design thinking, artificial intelligence, process improvement, offshoring key aspects of service delivery, and applying technology to drive efficiency and new business models. Many questions arise: What exactly is the nature of legal work? Is a law degree or a […]
2 March, 2015
The time to start planning succession in Australian law firms is now
Based on the current profile of partner ages, succession in Australian law firms seems to be heading towards a crisis. In Australia’s 50 largest law firms 43% of partners are over the age of 49 (1). This points to a looming succession challenge, not only for the firms themselves, but also for their clients. The […]
4 February, 2015
What lowering the cash rate means to professional services firms
Here’s what lowering the cash rate means to professional services firms in the face of yesterday’s cut in the cash rate by 25 basis points to 2.25 per cent. This was the first change in rates by the Reserve Bank of Australia (RBA) in 18 months.
13 January, 2015
To grow profitably, what was on your firm’s Christmas wish list?
As the managing partners of mid-tier law firms settled down for a well earned break during the festive season, they might have stopped to consider how their firms are going to grow profitably in 2015? I suspect many will have had laterals on their firm’s Christmas wish list. A recent survey of Australian law firms, published recently […]
8 September, 2014
A significant shift in strategic thinking in law firms is needed
Alan Hodgart is of the view that without a significant shift in strategic thinking in law firms worldwide and a change in their business models, more will struggle to maintain their position, and there will be more collapses and more forced mergers. In his report on the State of the UK Legal Market titled Key […]
30 June, 2014
Merging to build a future or merging to have a future?
David Goener. Accounting. Consulting engineering. Engineering. Law. Management consulting. Mergers & Acquisitions. Other professional services. Strategy
Mergers among professional services firms have long been seen as an opportunity to access new markets, acquire new service lines and build critical mass. Not all have been successful but they have, for the most part, been driven by a common desire to build for the future. However some recent examples have led to the […]
30 April, 2014
Why the state of American BigLaw firms is relevant in Australia
The American Lawyer has released its annual AMLAW 100 Report for 2014. These facts are of more than passing interest to BigLaw(1) firms in Australia – and elsewhere, so it’s timely to ask why the state of American BigLaw firms is relevant in Australia.
4 March, 2014
The rise of LSO to change the shape of traditional law firms
It’s now clear that the rise of LSO (legal services outsourcing) has the potential to change the shape and business model of the traditional law firm; a new book has predicted. And the same is true for in-house legal departments.
30 January, 2014
Bigger or better? Which comes first?
In a very competitive legal market two related key questions most firms face are ‘Bigger or better?’ and ‘Which comes first?’. Clients, opportunity, temptation and ego all play a role in driving a firm’s decision-making when it comes to the answers. A firm’s partners should be very clear about their answer to the question: ‘Bigger […]
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