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Vol 21 No 9 Sept/Oct 2016

Book of the Month

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Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Strategic Planning for Law Firms: A Practical Roadmap

ISBN13: 9781908640192
Published: March 2012
Publisher: Ark Group
Country of Publication: UK
Format: Paperback, A4
Price: £245.00

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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. 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
  • Implementation
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.