Paul Tilling, Head of Strategic Alliances at LexisNexis Enterprise Solutions analyses the prerequisites for managingchange in the typical law firm
The eminent management guru Peter Drucker once said: “The greatest danger in turbulent times is not the turbulence – it is to act with yesterday’s logic.” The last five years has certainly taught the legal profession a few salutary lessons. The sad demise of iconic American law firm Dewey & Leboeuf is just one example of a firm that proved incapable of making necessary changes in time.
Market liberalisation, increasing competition and the pressure to deliver “more for less” to clients means that law firms must make the transition from being a traditional law firm towards a more business centric one. There has been a growing clamour for years, but never has it seemed so imperative.