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Vol 21 No 9 Sept/Oct 2016

Book of the Month

Cover of Goode on Commercial Law

Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Good Governance in Law Firms: A Strategic Approach to Executive Decision Making and Management Structures

Edited by: Norman Clark

ISBN13: 9781909416208
Published: April 2014
Publisher: Globe Law and Business
Country of Publication: UK
Format: Hardback
Price: £95.00

In stock.

Governance today is more than just writing a good partnership agreement. Our multidisciplinary team of contributors demonstrate how governance has become a unifying and integrating system for a wide range of critical strategic and business issues.

The inquiry starts with an overview of modern governance structures in law firms, and how the concept of governance has expanded to include features such as professional managers and partner remuneration systems.

To be effective, a law firm’s governance system must facilitate, not complicate, the solution of important internal challenges, such as change management, managing partner performance and succession planning. How can good governance help law firm owners to make better decisions? How can governance incorporate management information and concepts of risk management into the decision-making process?

The fourth in this popular series on the business of law, published in association with the International Bar Association, the book concludes with an examination of emerging trends that will shape law firm governance in the future.

It provides visionary, but entirely realistic, insights into how law firm governance will need to continue to adapt to new regulatory regimes for the legal profession, stress testing concepts and new alternative business structures.

Legal Practice Management
Strategy drives governance
Effective Governance
Options for governance structures
Governance as an organising framework for managing the practice and the business
The role of professional managers
Change management in law firms
How to introduce concepts of profitability into a performancebased compensation system
How to introduce elements of performance-based compensation into a lockstep system
Performance management
Planning and managing succession
Management information
Risk management and governance
Stress testing the traditional law
Alternative Business Structures: Law Firm Governance Structures of Tomorrow