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Research suggests that there are gender differences in business
development. Regardless of industry, women tend to develop
relationships for the intrinsic value of those relationships, while
men do so for the potential yield those relationships may bring.
Men approach prospects with the goal of obtaining business, whilst
women's goal is to build ties. A gross generalization? Maybe. But
the fact is, there are still far more men in partnership and
leadership roles than women, and business development - the people
you know, your order book, and your ranking within an organization
- is key to that. The book features multiple contributions from
women across the globe, looking at the skills and techniques,
experiences and talents that female lawyers use to develop their
practices and grow their order books, acting as both inspiration
and motivation to its readers. Developing successful, authentic,
out-of-the-box business development strategies in a largely
male-dominated profession is a challenge for many women lawyers.
Where many senior partners have developed business by playing golf
or taking their clients for cigars and steaks, women need to find a
different way to develop business based upon their own personal
interests and strengths.
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.
It has never been more important for law firms to plan for the
future. A highly competitive market, an aging profession, the
changing ambitions of younger generations, many of whom place
greater importance on work-life balance than reaching top
leadership levels, and a long-held reluctance to discuss retirement
and succession, all combine to create what some are calling a
succession crisis. It is time to face the issue head-on and start
putting systems in place to ensure the long-term success and health
of lawyers and their firms: succession planning is the answer to
this. A successful succession encompasses two core elements:
transitioning firm management to a new generation, and transferring
client relationships. This title provides guidance not only on how
these two transitions can be achieved effectively, from the
perspectives of both individual partners and the firm, but also on
the plethora of issues involved in preparing for the departure of
retiring partners and transitioning in new leadership, including
compensation, the role of diversity and inclusion and financial
considerations. It also considers situations where more specific
and specialised plans may be required, such as managing the
succession of a rainmaker or a founding partner. A strong and
effective succession plan ensures that clients are retained over
the long-term, retiring partners leave optimistic and satisfied,
future leaders are in place and prepared for their roles, and the
firm continues to grow and flourish. The shift to a more remote
work environment has also made the institutionalising of processes
such as succession planning even more important. By providing a
thorough understanding of its many elements, this title explains
how effective succession planning can be implemented and ensure
smooth leadership and client transitions, securing and enhancing
the current and future success of partners and their firms.
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