Leaders in Legal Business Chapter: Business Development, Coaching and Sales Author: Silvia L. Coulter, Principal Consultant and Chair, Business Development Practice, LawVision Group LLC Firms are faced with many challenges from a mature and changing industry. While some may say disruption is now happening to the legal industry, it’s been slow and steady for 20 years and is now approaching the tipping point. Law firms have been challenged to find new ways to maintain profitability; to increase responsiveness, throughput, and consistency in the deliverable work product; and to keep the fees reasonable. This brings us to today, which is a fiercely competitive legal landscape where we see three types of firms: “Leaders” — those firms that are well managed and making notable changes in the way they lead, manage, compete, and retain and grow talent and clients; “Followers” — those firms that may be well managed but are still trying to manage change by consensus and wait until others show the way before they realize they need to do things differently; and lastly, “Sanders” — those firms with their heads in the sand and that (for unclear reasons) are frozen in time, afraid to make the necessary changes to meet the market demands and the changing competitive landscape. The Leaders know that focusing on the client is one key way to retain and grow revenue. Hiring business professionals who are experienced at guiding the firms’ revenue growth sales strategy is essential if a
Drew A. Senulis is an Associate Attorney with Patel Gaines. He represents clients in a broad range of complex commercial real estate litigation and transactions. Drew emphasizes that though a great number of business people may understand their industry and business procedures, some may not be wholly aware of the legal nuances that can influence their business. He also understands that a vast amount of attorneys remain inexperienced with business operations – making them less effective advocates. Drew’s focus is to close that gap for his clients by successfully combining his strong foundation of legal expertise and business experience.
The attorney’s business aim is to make as much profit as possible. The popular view is that the only business of business is to make a profit because people in business or professions must concern themselves
Melvin, S. P. (2011). The legal environment of business: A managerial approach: Theory to practice. New York, NY:
The top managers of Bass Pro Shops are reluctant to apply diversity practices on their recruitment processes, which has significantly damage their reputation and organizational climate. The successful implementation of a training and development method focused on promoting diversity will attract more customers and skilled employees to Bass pro shops stores. Thus, improving the reputation of the company in both employees and customers. The lawsuits derived from their discrimination practices has already damage Bass Pro’s reputation and might jeopardize their cost structure. Thus, the implementation of a diversity training method
Stephen Le Bronco is an attorney and counselor at law. He told me that when he started working in this industry, most new lawyers often work in office areas for big law firms with a poor compensation. He didn't want that so he decided to open his own law firm. What made that happen was the relations he builds during he was at school. One of the most important advises I get from him was “Always think bigger. If you want to do great business, you need to think big, get along with big people and act to win.” When he told his friends and family about his dream of open his own law firm everyone thought he was joking and always ignored him. But when family and friends saw that his dreams became reality they started to have more respect towards
In the reading, “The Transformation of the American Legal Profession,” Abel Richard explores how the stratification of the legal profession has changed throughout the years. Richard shares that during the 1870s and 1950s American Lawyers “developed local, state, and national bar association; promulgated ethical codes, and established disciplinary procedures” (Richard). In other words, they started to restrict the requirements to become a lawyer in order to protect the “legal knowledge.” Richard also addresses the issue of competition within the lawyers. He claims that due to the high competition, solo practice started to decline and many lawyers started to work in larger firms. Similar to this reading, in “Chicago Lawyers: The Social Structure of The Bar,” the authors John Heinz and Edward Laumann focus on the contemporary
strength and position in the market as an “implementation” consulting firm. The firm’s ability to
Those students show a great commitment and had had experience working in these fields. This article relates to what we discussed in class by showing how the interest in law careers have changed throughout time. During week 2, we talked about how professions have been reshaped by our modern ethics and beliefs. When the law profession was adopted in the United States, the practice of law was based on the Great Britain’s law structure, where there were two types of lawyers: barristers and solicitors. Barristers were in charge of arguing a case and taking it to court and solicitors were in charge of handling minor cases. However, as the nation expanded because of new immigrants, the need for the legal profession in the industrial economy increased. The legal profession shifted from ligation to negotiation (Seron). As pointed out by the reading, one of the main reasons law students shifted from public interest practice to pursuing business and corporate law was because of the few resources and limited control they have over their
Regarding the advancement potential, I expressed my concern that the job growth for the legal profession is slow. Daniel confirmed that I am true because the legal industry was hurt after the 2008 economic crisis. He also mentioned that jobs at the legal profession are now requiring specific backgrounds and skills such as language skills. Generally, lawyers start as clerks then advance to junior partner, then senior partner and finally the highest ranks are law professors or judges. Daniel also said that the advancement potential depends on the size of the law firm. So if the firm were small, it would be difficult to move from
The legal sector in the United States is changing along with many other industries. The law profession itself has become more separated from the “mega” law firms and the small locally owned ones; partnerships have become much more
Sometimes people don't want to go the extra mile...and there might be some reasons why.
The case in favour of diversity within the legal profession is incredibly strong. As Robert J. Grey JR, a partner at law firm Hunton & Williams argues, “diversity is a critical element of our society” . The reasoning for this has been illustrated in a blog post published by ‘Aspiring Solicitors’. It states how “diversity in the legal profession plays a very important role in regard to formulating new approaches and tactics”. This suggests that by bringing individuals together from different backgrounds and with diverse views, it could lead to more innovative ways of thinking. As a result, it may
Robert H. Jerry, II, Leadership and Followership, 44 U. Tol. L. Rev. 345 (2013), available at http://scholarship.law.ufl.edu/facultypub/
Deloitte Consulting is one of the largest and most diversified consulting services operating in the United States and major metropolitan centers globally. Deloitte's mission statement is to assist is clients and employees excel (Sidney, 2010). Audit & Enterprise Risk Management Services, Financial Advisory Services, Tax, Deloitte Growth Enterprise Services in addition to fourteen other services comprise the company's portfolio (Sidney, 2010). Deloitte is a world leader in enterprise tax management, risk management and regulatory compliance, in addition to strategic planning for operations, technology adoption and human resources as well. Deloitte is also adept at managing outsourcing consulting across its many business units, a core competency that has given the company formidable competitive depth relative to competitors including Accenture, KPMG, McKinsey & Company and PriceWaterhouse Coopers (PWC). In the last decade Deloitte has practices in twenty different industries, ranging from aerospace and defense, automotive and banking & securities to Oil & Gas, retail and distribution, technology and travel, hospitality and leisure (Sidney, 2010). Deloitte relies on its partners in each of these practice areas to coordinate business-based and technology-related solutions to customers' problems. Often this includes the coordination of large scale project teams where there is the need for extensive cross-functional expertise to solve a
This term paper exercise is designed to have you study the specific sales practices of a company