The Strategic Law Firm. (2010)

• Record Type: Book
• Further Information: Note: Duncan Hart.
• Authors: Hart, Duncan
• Contents: Why is business model analysis important?...1 The multi-team complexity... 1 Using a visual business model approach in context...2 Strategy and business models... 3 The multi-team model...3 Value, values and vision...4 Business models and innovation...5 The importance of process...7 Some key assumptions...7 Part One: The Strategic Business Model Chapter 1: The strategist AZs dilemma...13 Strategy and the firm AZs business model...13 Leverage and strategy...15 The key ingredients of a strategy...17 Chapter 2: Analysing your current model visually...21 The nine key elements of a business model... 21 Applying the model to the classic multi-team firm...24 Shaping a more coherent strategy...25 Chapter 3: Applying the model in the real world...31 Example one A C The boutique firm (immigration practice)...31 Example two A C The boutique firm (property practice)...33 Example three A C The boutique firm (industrial practice)...33 Example four A C The commercial firm (small practice)...34 Example five A C The commercial firm (larger practice)...35 Example six A C The commercial firm (industry focus)...37 Chapter 4: Building an industry and client focus...41 The benefits of an industry focus...41 The code list for industry classification...41 Managing the transition...44 Using a transaction-based focus to build industry expertise...45 Focusing at the transaction level...46 Other issues in managing a firm AZs focus...48 Managing the tensions...49 Profit allocation...49 A recapitulation of the key strategic benefits...50 Chapter 5: Firm structure and strategy...53 Some common examples of organisational structures in law firms...55 Roles and responsibilities in law firms...56 New and emerging structures...58 Comparing the merits...61 Emerging models...61 Chapter 6: Disruptive innovation and new models...63 Disruptive models...63 Disruptive models and the legal profession...64 Susskind AZs prognosis...65 Chapter 7: Innovation and the law firm...71 De-regulation of the legal sector...71 Demographic change...71 Globalisation...71 Technology...72 Public perception and expectations...72 Diversity...72 Clients...72 Trends and their impact on the classic law firm model...73 Why is innovation important?...74 Trends and the rule of law...75 Part Two: Due Process Chapter 1: Consensus, commitment and implementation...79 Business models and consensus...79 Implementation...79 Before the day... 81 On the day...81 After the day...81 Chapter 2: Before the day...83 Data collection...83 Interviews...84 Industry focus...85 Analysing for suitable industries...86 Competitor research...87 Agreeing the agenda...87 What if there is no obvious agenda?...89 Chapter 3: On the day...91 Setting the scene...91 Promoting reflection and useful discussion...91 Key issues...92 Particular tools to use on the day A C Utilising the business model canvas...92 SWOT A C Analysing capabilities, opportunities and threats...97 Scenario planning A C The external environment...98 Which horse(s) to back A C Team analysis...101 Team strengths and prospects...101 GE-McKinsey analysis...103 Industry-focus exercise...105 How does the firm progress an industry-based approach?...107 A multi-team example...108 The profit exercise...110 The contribution exercise...113 The what-you-need-to-get-started exercise...113 What does the example reveal?...116 Why is there such a difference?...117 Improving accuracy of the analysis...118 Potential pitfalls...118 The pricing exercise...121 The values exercise...123 Chapter 4: After the day...127 The outputs from the day...127 Implementation plans...127 Incorporating the outcomes into the budget...128 A cautionary note A C Too many initiatives?...129 The planning imperative...130 Incorporating outcomes into appraisal processes...135 Where does this all fit in the firm diary?...136 The personal development plan...137 Financial...139 Client...140 Systems and processes...140 Growth and learning...141 Index...143
• Edition: 1st
• Publisher Details: Ark Group
• Publication Date: 2010
• Extent: 1 online resource (143 pages)
• Subjects: LAW / General Practice; Legal profession: general
• Languages: English
• ISBNs: 9781787427327; 1787427323
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.