At its core, the purpose of strategy in any for-profit organization is to position the firm to achieve better and more sustainable returns than the competition. In other words, the purpose of strategy is to capture a sustainable competitive advantage. Doing so requires the firm to satisfy major stakeholders (primarily customers, but also knowledge workers, shareholders, and others) over both the near and longer term. Ultimately, business strategy is about winning in competitive markets. Strategic Planning for Law Firms: A Practical Roadmap - authored by renowned strategic management expert John Sterling - provides the reader with a workable, real world strategic planning process they can use in their own firms. That process includes: - An approach to developing a strong analytical foundation and framework - providing an objective, factual assessment of the internal and external environment facing the firm; - A means of defining the firm's strategic direction - enabling the firm to articulate and agree upon its direction including: *What the firm (or practice group) aspires to become over the long run; and *What position(s) the firm or practice intends to occupy (i.e. what it will be known for). -A means of developing action oriented strategies - enabling the firm (or practice) to agree upon the sometimes difficult trade-offs among its strategic alternatives, enabling it to focus resources on achieving its aspirations and desired market positions; and - An approach for identifying near term action plans (and prioritizing those action plans) so that individuals are directly engaged in (and are accountable for) roles that put the strategy into operation on a day-to-day basis. Readers of the previous edition will find much new to explore in the second edition, including a thoroughly updated discussion of the core strategic issues facing law firms; refreshed case studies that outline real world responses to current strategic issues, strategic planning challenges, and strategy implementation imperatives; a deep dive into applying "Blue Ocean" strategy in a law firm setting; and a discussion of how the "Business Model Canvas" can be used to rethink practice areas, pricing, and ancillary businesses.

In an era in which law firm performance is increasingly public - and a determining factor for where the best lawyers decide to practise - it seems clear that firm management would want to adopt tools that are proven to improve performance. An increasing number of firms are now adopting this long established tool and there is growing evidence that firms which employ balanced scorecards to drive strategy implementation have significantly improved shareholder returns. Balanced Scorecards for Law Firms report provides a vital introduction for firms wanting to know more about how the balanced scorecard can improve their own firm's performance. The report and the tools explained within it reach well beyond revenue per lawyer and profit per equity partner to identify meaningful measures and actions related to the development of quality people, highly satisfied clientele, and superior business practices and processes. Specifically, the report will give you a clear understanding of: The balanced scorecard concept and tool, its practical application and the results you can achieve from its adoption; How to apply the concept in a law firm environment - the central opportunities and challenges the tool presents for law firm management; and Each of the major elements of a balanced scorecard - with an emphasis on their meaning in a law firm environment: Financial measures; Client measures; Learning and growth; and Business processes. Balanced Scorecards for Law Firms provides you with pragmatic advice, real world case studies and invaluable expertise to help you begin utilising a tool that can dramatically improve focus, accountability and execution of strategy. Begin outperforming your competitors in an increasingly difficult and aggressive market place.

Law firm practice group leadership is not for the faint hearted. As firms compete increasingly at practice group level, leaders are being asked to run their groups like business units; to develop and implement a strategic plan that supports the goals and competitiveness of the firm; and to coordinate and lead their partners to enhance the efficiency, performance, and profitability of their groups. Many firm leaders complain that some of their group heads are not producing the results they want to see. But how many practice group leaders receive the tools and support they need to succeed in this critical role? How many are selected for demonstrable leadership skills? And how often are they held accountable for how well - or otherwise - they perform in the role? With contributions from a wide range of experts, this second edition of Effective Practice Group Leadership explores these key questions and more, building on the first edition with new insights and thought leadership. The book examines the position of the practice group leader (PGL) in law firms today, the challenges of the role, and the changes to it, innovations and how modern practice groups are changing, and demonstrates the enormous contribution PGLs can make to the profitability and performance of their law firms, when armed with the tools and the authority.

Could you benefit from expert guidance on how to stay competitive and streamlined in a legal marketplace that is increasingly competitive? Law firms are finding it harder to adapt quickly to a legal landscape that is constantly evolving. That's why it's imperative for law firm leaders to recognise and respond to this change in order to stay competitive. While the economy has improved, key challenges from the recession remain. Clients are more demanding, reducing cost is as important as it ever was, and firms realise that operational efficiency is crucial to gaining small but important margins. In this market, those small margins can be game-changers for large and small firm alike. This new and updated edition of The Lawyer's Guide to Strategic Practice Management equips law firm leaders with the very latest guidance and market knowledge on how to improve and refine current management strategies in order to thrive and compete in today's legal marketplace. From the latest developments in technology and AI, how to improve your firm's coverage on LinkedIn to increasing motivation to act on cross-selling opportunities, this guide is an amalgamation of guidance from the most talked-about thought leaders in the legal sphere. The second edition contains 7 new chapters covering strategy; market and client development; people and talent management; finance and pricing and optimisation and technology. Key features of this updated guide 33 chapters covering six key areas of law firm management Contains valuable material such as diagnostic questionnaires, how-to guides, case studies and action-planning worksheets Hear from a range of thought leaders and experts in the law firm management sphere including: Viv Williams (CEO of 360 Legal Group) Patrick J. McKenna (strategist and advisor to premier law firms) Chrissie Lightfoot (CEO of EntrepreneurLawyer Ltd) Geoff Coughlin (co-founder of Emphasis on Skills Ltd) Order your copy of this guide to: Review revenue and profit models, profitability strategies and law firm profit drivers Examine the various alternatives to the traditional billing hour Measure and manage the performance of your lawyers Find market niches and develop individual business development strategies Learn about the adoption of client listening programmes Use big data for billing and cost and forecasting analysis Build the business case for legal project management Improve client and staff communication, connectivity and collaboration strategies Inform your management strategy with the very latest market insights and find solutions to your management challenge. Order your copy of this updated guide.