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.
Managing Partner's new 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.
Chapter 1: The balanced scorecard – an overview of Kaplan and Norton’s system
Chapter 2: Applying the balanced scorecard in a law firm environment – opportunities and challenges
Chapter 3: Financial measures – applying the financial element
Chapter 4: Client relationship measures – applying the client satisfaction element
Chapter 5: Business process measures – applying the business process element
Chapter 6: Learning and growth measures – applying the people/capability dimension
Chapter 7: Implementing the balanced scorecard at the firm level – a ‘how to’ primer
Chapter 8: Implementing the balanced scorecard at the practice group level – a secondary ‘how to’ primer