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    June 17th, 2013

    ♫  Make a list baby, of the things I’ll do for you…♫

    Lyrics, music and recorded by Ambrosia.

    STRATEGIC PLANNING IS AGAIN HIGH ON FIRMS’ AGENDAS

    chess

    This is another guest post from my friend Bob Denney.  It is of particular interest since my MBA was in the area of the strategic application of technology to the practice of law.  So to see a renewed growing interest in the area of strategic planning is a gratifying one – and one that I truly endorse.

    So without further ado – here are Bob’s insights into this area:

    Several recently published surveys confirm that a large percentage of firms, regardless of size, have put many of the same issues high on their agendas for this year. In no particular order, these are some of them:

    • The need to grow in order to survive
    • Seeking a merger if they can’t grow
    • Clients insistence on receiving value for their legal spend
    • The need to obtain regular client feedback
    • Dealing with under-performing partners
    • Succession planning
    • Continued lateral hiring in lieu of associate recruiting
    • Decreasing leverage because of fewer associates
    • Practice group organization and management
    • Increased competition from online sources and alternative legal service providers
    • Strategic Planning

    None of these issues are surprising but the return of Strategic Planning to firms’ agendas is a healthy sign because many firms had abandoned planning during the recession, Yet, as most businesses and organizations have long recognized, it is essential. Now law firms are recognizing it is more essential than ever because of the many changes in the legal profession.

    Integrated Strategic Planning, as we define it, has always been one of our largest areas of practice and now the number of these projects we are working on has increased over 300% in the past six months. For firms that have not yet put Strategic Planning on their agendas, we attach a discussion of the benefits, misconceptions and application of the process.

    Robert Denney Associates Inc. provides strategic management and marketing counsel to law firms, companies and non-profit organizations throughout the United States. Previous Communiques as well as information about our services may be viewed on our web site. P.O. Box 551, Wayne, PA 19087-0551 • 610-644-7020 • fax: 610-296-8726 email: bob@robertdenney.com • web site: www.robertdenney.com

    Thanks Bob for highlighting how strategic planning and its components should be high on the list of things that management should be doing in law firms!

    This entry was posted on Monday, June 17th, 2013 at 5:00 am and is filed under Budgeting, Business Development, Change Management, Firm Governance, Issues facing Law Firms, Law Firm Strategy, Leadership and Strategic Planning, Tips, Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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