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Strategic Planning for Law Firms: A Practical Roadmap

Strategic Planning for Law Firms: A Practical Roadmap (Paperback)

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We don't have to tell you that strategy is critical if you want to achieve differentiation, competitive advantage and sustained financial success in today's legal market. But without a clear framework in place that engages key stakeholders at each stage of the planning process, things can quickly go awry - leading to expensive mistakes that erode firm profits, client base, talent pool and reputation. Written by respected strategy expert and consultant, John Sterling, Strategic Planning for Law Firms provides a comprehensive roadmap, guidance, checklists, tools and steps on all phases of a strategic planning process to ensure readers are able to: * Develop an easy-to-follow framework for strategy development and implementation; * Provide an objective, factual assessment of the internal and external environment facing the firm (survey included); * Clearly define and communicate the firm's strategic direction; * Focus firm resources to achieve short and long-term aspirations and a strong market position; * Define roles and responsibilities in delivering the strategic plan; and * Ensure strategies are implemented and followed on a day-to-day basis.

This report is broken down into three clearly defined parts. Part one introduces readers to the four-phase strategic planning roadmap catering specifically to a law firm environment: * Situation analysis * Setting strategic direction * Strategy development * Implementation Part two then provides an in-depth look at how to exploit the key strategic planning tools and principles available to you, such as: * Portfolio analysis; * Product life cycle management; * Competitive intensity - Five forces analysis; * Scenario-based planning; and * Balanced scorecards. The specific strategic issues and challenges law firms face with strategic planning are covered in detail in part three. These include: * People management; * Succession planning; * Client expectations; * Knowledge management; * Legal process outsourcing; * Business development and marketing; and * Profit growth and financial management. Insightful case studies Strategic Planning for Law Firms features real-life case studies from a range of firms varying from mid-sized practices to large boutique and global firms, including Clarke Hill, Bryan Cave and Sterne, Kessler, Goldstein & Fox.

By following this guide all firms will be able to craft and implement strategic plans to gain competitive advantage, improve firm sustainability and foster greater growth.

LawJurisprudence & general issuesLegal profession: generalLawJurisprudence & general issuesLegal skills & practice Publisher: Ark Group Publication Date: 29/02/2012 ISBN-13: 9781908640192  Details: Type: Paperback Format: Books
Availability: To Order. Estimated despatch in 1-3 weeks.  

John Sterling is a founding partner of Sterling Strategies, LLC. Prior to founding Sterling Strategies, John was a founding partner at Smock; Sterling Strategic Management Consultants. He has over 25 years of experience in strategic management and market research. John has worked extensively with law and other professional service firms, as well as with industrial and consumer product companies and not-for-profit organisations. His work with TimeLine Theatre Company in Chicago won the Richard Goodman Strategic Planning Award for excellence in strategic planning from the Association for Strategic Planning. John is president of the Strategic Management Association in Chicago and is a contributing editor to the business journal Strategy & Leadership.

More books by John Sterling

Customer Reviews

RUNNING OR MANAGING A LAW PRACTICE? THIS ‘ROADMAP’ HELPS YOU PLAN A BETTER ROUTE TO CONSISTENT PROFIT AND GROWTH An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers One of the latest publications from the estimable Ark Group, ‘Strategic Planning for Law Firms: a Practical Roadmap’ gives you access to the kind of top-flight management consultancy and advice you need to position and grow your law practice, or firm as a profitable business. In our view it should emerge as a must-have purchase for anyone involved in the operation of a legal practice. It will certainly be of special interest to law firms whose senior partners and/or practice managers are all too aware that law, as well as being a learned profession, is also a business, with in-built business concerns and objectives involving, for example, client service, competitiveness, profit and growth. The book is obviously targeted to law firms in North America, but all the more interesting for that. It’s always valuable to gain access to insights on strategic business practice gleaned from one’s transatlantic peers and contemporaries -- especially in today’s competitive global markets. In format and content, not to mention philosophical orientation, the book could be referred to as (and is) a management report, although it’s more than that. Neither a ‘manual’ nor a ‘practical guide’, it’s instead called a ‘roadmap’ -- which it more or less, is. It functions as a sort of ordnance survey of strategic management advice designed to guide you through those specific business territories through which law firms must typically navigate, while alerting you to possible wrong-turnings and obstacles that may confound and confuse you along the way. The topics it covers are too extensive and numerous to list here in their entirety, but they do include, for example, the elements of a well constructed strategic plan… the strategies and resources needed to achieve it… the means of developing such strategies … and the practical means by which they may be put into action on a day-to-day basis. The book’s four-part structure includes a review of management tools and principles that drive winning strategies, together with a discussion of the strategic issues that face law firms, including people issues, knowledge management and financial management. And, as example is often the best form of instruction, there are some rather fascinating case studies that demonstrate by illustration and anecdote how the strategic planning process actually works. Author John Sterling, an expert in strategic planning, assures us that the principles and practices described are applicable equally to large, mid-size and boutique law firms, Within the UK context, we would also add that the book is a useful source of consultancy for firms of solicitors with international links and directly adaptable to the needs and aspirations of sets of chambers. Indeed, with business having gone global, this ‘roadmap’ would be useful for just about any law firm anywhere, particularly firms specializing in commercial law. Whether or not you have sought out the services of a management consultant, this book will familiarize you with the systems, methods and processes of strategic business planning, which can only help you enhance the reputation and profitability of your firm.

- 28/06/2012
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