Making Sense of Law Firms: Strategy, Structure and OwnershipIn the last twenty years the legal profession has seen dramatic changes. Law firms, large or small, have had to manage through these changes. Some firms have been more successful than others, but on the whole the profession has emerged leaner and fitter. Making Sense of Law Firms is the first book to take a systematic look at the strategy, structure and ownership of law firms and, as such, it brings a unique approach to law firm management. The book describes the changing legal environment, explores the strategic choices for the firm and describes the proper application of appropriate business principles to law firms. The book is split into eight parts: Law firms as a Response to the Environment The Theory of the Law Firm Law Firms as Business Organisations Law Firms as Client-Driven Organisations Law Firms as Social Organisations Law Firms as Economic Organisations Ownership of Law Firms The Way Ahead |
Contents
ENVIRONMENT | 3 |
Law Firms as Organisations | 23 |
Business | 39 |
Copyright | |
46 other sections not shown
Common terms and phrases
ability achieve activities analysis assessment assets autonomy behaviour bounded rationality cash flow chapter Clifford Chance competitors create culture depend difficult diversification economic effective environment equity partners example existing expectations expertise exploitation exponential growth factors fee income financial capital firm-specific capital firm's growth human capital important increase individual and firm-specific individual capital industry integrated entrepreneurs internal internalise investment involved issues know-how businesses knowledge law firms lawyers legal practice legal services managerial managing partner marketplace ment merger Mintzberg monitoring moral hazard opportunities organisation paragraph partnership of integrated performance potential practice areas productivity profes profit profit-sharing psychological contract recruitment relationship result rewards role senior sharing sole practitioner sole principal specialisation strategy structure successful support staff surplus client needs Sveiby and Lloyd tacit knowledge theory tion transaction costs unsystematic risk usually value chain