From the first smaller projects over 5 years ago, through to the very sophisticated Bradford & Bingley Car Ownership Scheme more recently, we have become comfortable that our initial expectations would always be exceeded

- Sandy Duncan
Director of Group Purchasing, Bradford & Bingley

Financial Strength for Independence - or Investment

Date: 25.09.2012

The legal sector was historically regarded as being low-risk and high-value, and was therefore an extremely attractive lending proposition for bankers. However, this has not been the case for five years now – and in a number of cases, firms have been slow to realise the implications.

Client Selection

Date: 25.09.2012

Client selection is an issue that many firms do not even consider. In most cases, the focus is on how clients select the firm they intend to instruct, and this is of course a crucial matter. However, as David Maister has consistently argued, ‘Strategy is about saying no’, and so firms need to decide which clients they want to serve, and to which clients they will say ‘no’.

What's Going On?

Date: 31.08.2012

One of the difficulties in assessing the state of the legal market has been the paucity of up-to-date data. In the UK we have largely had to rely on historic annual data (various league tables published about large firms, the law management section survey of medium sized firms, and those created for various consortia) which, by the time it is collected and published, can be of limited use.

Do no harm?

Date: 30.08.2012

Very occasionally in reading about law firm management I come across a memorable turn of phrase -I have on many occasions used the late Larry Ribstein's description of large American law firms as "Thinly Capitalised Workers’ Cooperatives" in my sessions on cash flow and working capital.

Focus and Financial Purpose

Date: 26.07.2012

In a competitive, post-Legal Services Act market, where the perspectives of the investor community are becoming ever more important, the imperative for firms is to agree a purpose, and move the focus to financial measures beyond simple Profit per Equity Partner.

Law Firm Management - Three Hats & an Inverted Pyramid

Date: 02.07.2012

Some years ago Edward De Bono identified that in carrying out our jobs we have to fulfil different roles at different times, and suggested that we need to adopt different modes of thinking to successfully carry out each role – and in management games he suggested the wearing of different coloured hats.
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