#strategy

ARTICLES

+1000 Articles on the Business of Law.

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Author Contribution

5 days ago
5 min

Does Timekeeping Have a Place in Law Departments?

By Richard G. Stock This is the thirty-ninth in a series of articles about how corporate and government law departments can improve their performance and add measurable value to their organizations. It has been more then 10 years since I have seen articles which refer to timekeeping by law departments. An Australian survey of 209 public and private sector counsel found that only 22 % were using time recording or time sheets. I recently asked the same question of 11 law depart

Author Contribution

Feb 20
4 min

Top Performance and Knowledge Workers

By Richard G. Stock This is the thirty-eight in a series of articles about how corporate and government law departments can improve their performance and add measurable value to their organizations. “If our companies are going to be more profitable, if our strategies are going to be successful, if our society is to become more advanced – it will be because knowledge workers did their work in a more productive and effective manner.” Thomas H. Davenport (Thinking for a Living,

Author Contribution

Feb 13
4 min

How do small and midsize law firms become more successful and punch above their weight?

By Neville Pokroy Too many small and midsize firms feel inadequate when competing against the big guys with big money behind them. So, how can a smaller firm compete effectively and punch above their weight? It’s actually quite simple as long as they follow a number of proven strategies that are easy to implement and quite cost effective to self-finance. Here are the 10 most important MUST DO factors that have led to success. 1. You are running a business and a law firm

Author Contribution

Jan 24
3 min

Too Little, Too Late?

By Richard G. Stock This is the thirty-seventh in a series of articles about how corporate and government law departments can improve their performance and add measurable value to their organizations. A recent deep dive into current practices for legal services delivery, the use of legal project management, multi-jurisdictional coverage, and pricing revealed no surprises. Corporate law departments do not process the information and do not analyze the data they have available

Author Contribution

Nov 17, 2022
4 min

Strategic Impact

By Richard G. Stock This is the thirty-sixth in a series of articles about how corporate and government law departments can improve their performance and add measurable value to their organizations. These are two words that one does not readily associate with corporate or government law departments. An experienced General Counsel recently asked me how, after 30 years of serving a company, does a law department add value? How does one change service delivery to do this when de

Author Contribution

Oct 20, 2022
7 min

An Interview with Komal Gupta, Chief Innovation Officer at Cyril Amarchand Mangaldas

By Editorial Board LBW. 1. Komal, you’re the Chief Innovation Officer at Cyril Amarchand Mangaldas CAM), India’s leading law firm. Could you elaborate a bit more on your role? What inspires you about this role? In what way does CAM differ from other firms? And what do clients notice from all of this? Broadly, my role at CAM is to promote a culture of innovation internally to ensure we continue to provide innovative solutions to our clients. The role is a combination of a lawy

Author Contribution

Sep 20, 2022
5 min

How legal can become lean during a down-market

By Daniel van Binsbergen. We’re in the early days of a down-market that some analysts are comparing to the dot-com crash. But what does this mean for in-house legal teams? To survive in a down market, legal needs to stay lean and cut costs. This requires GCs to think strategically and confront core questions such as, where can my legal team have the most impact? Who should do what, internally and externally? How can legal do more without increasing headcount? The goal of this

Author Contribution

Mar 28, 2022
11 min

Going The Next Step: "Multidisciplinary Industry Teams"

By Patrick J. McKenna Many, if not most, of the complex situations for which clients employ professional firms are inherently multidisciplinary. For example, if I am going to build a new commercial real estate park, I am likely to need expert advice on law, finance, tax, economics, engineering, environmental considerations and a whole host of additional disciplines. Meanwhile, according to a report by LexisNexis Legal & Professional, the Big Four accounting firms are corneri

Author Contribution

Jan 31, 2022
8 min

The Most Lucrative Growth Is Industry Focused: But Only If You Get Granular

By Patrick J. McKenna I was reading an interesting interview with Sandy Thomas upon being reelected for his third term as Global Managing Partner at Reed Smith. What struck me was when he was asked about the direction of his firm and his growth priorities, he responded that Reed Smith will concentrate what he calls its “talent, time and treasure” as the firm embarks on a new four-year plan. The focus will be on developing capabilities in five core industries: financial serv

Author Contribution

Jan 19, 2022
15 min

Your Future Workforce won't fit into Your Firm!

By Sebastian Hartmann and Madeleine Bernhardt. Designing the next generation Workforce Ecosystem and Composability Strategy for Professional Services Firms For most professional and B2B services firms, human capital constitutes the largest single cost driver of business activities. The current pace of change across consulting, legal, accounting services, and other professions is driving massive shifts in human capital requirements, skill transformation needs, and talent short

Author Contribution

Jul 20, 2021
10 min

Would You As Firm Leader Benefit From Having An Advisory Board

By Patrick J. McKenna. There is an old saying that goes, it can be lonely at the top — especially if you are a busy law firm leader trying to maintain a modicum of a personal practice while also charting a course for your firm’s future growth. However, you don't always have to go it alone or rely on the intuition of only your fellow colleagues – some of whom may have their own personal agendas to advance or not have the kind of business experience that you need. A good number

Author Contribution

Jul 12, 2021
7 min

Strategy before structure.

By Leor Franks. Cut through the noise by focussing on clients. Brand, Communications, Marketing, and Business Development. Four individual separate functions, or all part of one joined-up team? There are a vast array of configurations of these teams in professional service firms. Brand and marketing are sometimes conjoined. Or marketing and communications could be integrated. In some partnerships, marketing and BD are one, with communications separate, with perhaps brand on i

Author Contribution

May 4, 2021
10 min

Do Good Lawyers Build Good Law Firms?

By Jon Whittle. Law firms need to harness the power of non-legal business talent if they are to thrive in the evolving legal ecosystem because being a good lawyer is no longer good enough. There is, in my view, a structural flaw at the heart of many law firms. It is an issue of ethos and culture that can, if left unchecked, become the barrier that prevents talented lawyers building first class, commercially successful legal businesses. In this piece I challenge Law Firms to t