Managing the Modern Law Firm : New Challenges, New Perspectives

Featuring contributions from both legal practitioners and management researchers, __Managing the Modern Law Firm__ seeks to present the latest insights from Management Studies in an approachable, practical, and relevant manner for lawyers involved directly and indirectly with the management of law firms. The Last Ten Years Have Been A Period Of Extraordinary Change For Law Firms. The Rapid Growth Of Corporate Law Firms And The Emergence Of Global Mega-firms Such As Clifford Chance, Linklaters, And Freshfields, Have Strained The Traditional Partnership Model Of Management. Some Managers Of Law Firms Are Appalled At The Creeping 'corporatism' That They Fear May Result. However A Growing Number Believe That It Is Time To Move On And Adopt More Contemporary Forms Of Structure Andmanagement.successfully Meeting The Challenges Of This New Business Environment Is Vital For The Continuing Prosperity Of Law Firms. Featuring Contributions From Both Management Researchers And Legal Practitioners, Managing The Modern Law Firm Presents The Latest Insights From Management Studies In An Approachable, Practical, And Relevant Manner For Lawyers And Other Professionals Involved Directly And Indirectly With The Management Of Law Firms. Your partnership : surviving and thriving in a changing world : the special nature of partnership Your people : valuing diversity : some cautionary lessons from the American experience Your expertise : developing new practices : recipes for success Your client relationships and reputation : weighing the worth of social ties : embeddedness and the price of legal services in the large law firm market Your income : determining the value of legal knowledge : billing and compensation practices in law firms Your capital : building sustainable value : a capital idea Your competitors : mapping the competitive space of large US law firms : a strategic group perspective Your ethics : redefining professionalism? The impact of management change Your challenge : sustaining partnership in the twenty-first century : the global law firm experience. The last ten years have been a period of extraordinary change for law firms. The rapid growth of corporate law firms and the emergence of global mega-firms have strained the traditional partnership model of management. Some managers of law firms are appalled at the creeping'corporatism'that they fear may result. However a growing number believe that it is time to move on and adopt more contemporary forms of structure and management. In Managing the Modern Law Firm scholars and legal practitioners examine the latest insights from management research, to enable law firms successfully to meet the challenges of this new business environment. Law firms face unique organizational, managerial, and business issues, such as the role of partners, new practice development, payment systems, the value of legal knowledge, career development, and competitive advantage. This book investigates these particular challenges and is ideal for anybody researching or managing professional service firms. - ;The last ten years have been a period of extraordinary change for law firms. The rapid growth of corporate law firms and the emergence of global mega-firms such as Clifford Chance, Linklaters, and Freshfields, have strained the traditional partners