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
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.
Chapter 1: Introduction to the strategic planning process
Chapter 2: Phase one – Situation analysis
Chapter 3: Phase two – Setting strategic direction
Chapter 4: Phase three – Strategy development
Chapter 5: Phase four – Implementation planning
Chapter 6: Portfolio analysis
Chapter 7: Product life cycle management
Chapter 8: Competitive intensity – Five forces analysis
Chapter 9: Scenario-based planning
Chapter 10: Disruptive innovation
Chapter 11: Co-creating unique value with customers
Chapter 12: Balanced scorecards
Chapter 13: Strategic issues – Section one
Chapter 14: Strategic issues – Section two
Chapter 15: Strategic issues – Section three
Case study 1: Efficient director involvement at Sterne, Kessler, Goldstein & Fox
Case study 2: A governance-driven process at Clark Hill
Case study 3: Broad involvement at Bryan CaveCheck our Executive Summary and full table of contents here