Managing the Modern Law Firm: New Challenges, New Perspectives

by Laura Empson (Editor)

Overview

The last ten years have been a period of extraordinary change for law firms. The rapid growth of corporate law firms and the emergence of global mega-firms such as Clifford Chance, Linklaters, and Freshfields, have strained the traditional partnership model of management. Some managers of law firms are appalled at the creeping 'corporatism' that they fear may result. However a growing number believe that it is time to move on and adopt more contemporary forms of structure and management. Successfully meeting the challenges of this new business environment is vital for the continuing prosperity of law firms. Featuring contributions from both management researchers and legal practitioners, Managing the Modern Law Firm presents the latest insights from Management Studies in an approachable, practical, and relevant manner for lawyers and other professionals involved directly and indirectly with the management of law firms.

Product Details

ISBN-13:	9780191615405
Publisher:	OUP Oxford
Publication date:	06/10/2010
Sold by:	Barnes & Noble
Format:	eBook
File size:	4 MB

About the Author

Laura Empson is Professor in the Management of Professional Services Firms at Cass Business School, City of London, and was previously Director of the Clifford Chance Centre at Said Business School, University of Oxford. Her research has focused on a wide range of issues in accounting, consulting and law firms, including the organizational implications of strategic change, managing the post-merger integration process, overcoming impediments to knowledge-sharing among professionals, changing organizational and professional identities, and the governance of professional service firms. Prior to becoming an academic, Laura Empson worked for several years as an investment banker and strategy consultant and continues to act as a consultant to professional service firms. She has a PhD and MBA from London Business School.

Table of Contents

List of Figures     xi
List of Tables     xii
Notes on Contributors     xiii
Prologue   John J. Gabarro     xvii
Introduction and overview   Laura Empson   Stuart Popham     1
Your partnership: Surviving and Thriving in a Changing World: The Special Nature of Partnership   Laura Empson     10
Your people: Valuing Diversity: Some Cautionary Lessons from the American Experience   David B. Wilkins     37
Your expertise: Developing New Practices: Recipes for Success   Heidi Gardner   Timothy Morris   Narasimhan Anand     64
Your client relationships and reputation: Weighing the Worth of Social Ties: Embeddedness and the Price of Legal Services in the Large Law Firm Market   Brian Uzzi   Ryon Lancaster   Shannon Dunlap     91
Your income: Determining the Value of Legal Knowledge: Billing and Compensation Practices in Law Firms   Huseyin Leblebici     117
Your capital: Building Sustainable Value: A Capital Idea   Stephen Mayson     141
Your competitors: Mapping the Competitive Space of Large US Law Firms: A Strategic Group Perspective   Peter D. Sherer     162
Your ethics: Redefining Professionalism? The impact of management change   RoystonGreenwood     186
Your challenge: Sustaining Partnership in the Twenty-First Century: The Global Law Firm Experience   Tony Angel     196
Bibliography     218
Index     231

Editorial Reviews

"Managing the Modern Law Firm: New Challenges, New Perspectives by Laura Empson
As the legal profession evolves, competition heats up and law firms continue to grow, an increasing number of firms are choosing to run themselves more like businesses and less like loose confederations of sole practitioners. Many lawyers are appalled by this creeping "corporatization" of the profession, while others believe it's time to adopt more streamlined structures and management practices. This book, edited by Laura Empson, provides a rich blend of historical perspective, scholarly analysis, and practical insight by an impressive group of professionals and academicians. It gives firm leaders plenty to think about."
— Managing Partner Forum, US

From the Publisher