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Bibliographic Record Display

• Title:Sustainable profitability in a disruptive legal market / Norman K Clark and Lisa M Walker Johnson.
  
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• Author/Creator:Clark, Norman K., author.
  
• Other Contributors/Collections:Walker Johnson, Lisa M., author.
  
• Published/Created:Woking, Surrey, United Kingdom : Globe Law and Business Ltd , [2019]
  ©2019
  

• Holdings

  Holdings Record Display

  • Location:LAW LIBRARY (level 3)Where is this?
    
  • Call Number: K129 .C53 2019
    
  • Number of Items:1
    
  • Status:Available
    

   
• Library of Congress Subjects:Law firms--Finance.
  
• Description:103 pages ; 30 cm
  
• Series:Law firm management insights.
  
• ISBN:9781787422667 (paperback)
  1787422666 (paperback)
  
• Contents:Machine generated contents note: Seismic shifts in the legal services industry
  1. Introduction
  2. Will the law firm of the future be a computer?
  3. diagnostic approach
  six classic drivers
  1. Introduction
  2. Old questions turned upside down
  3. Diagnostic tools in a change-ready professional culture
  Pricing
  classic driver #1
  1. thought experiment: £10 per hour
  2. Are your fees low enough to be competitive and high enough to be profitable?
  3. Low pricing: an unsustainable strategy
  4. Are your fees high enough?
  5. Value, not price
  6. agenda for a value conversation
  7. Escaping the squeeze
  Productivity
  classic driver #2
  1. thought experiment: the 80-hour day
  2. Are you working too hard?
  3. Is the billable hour obsolete?
  4. What is the magic number?
  5. Variation in productivity
  6. overproductive partner
  7. Moving beyond the billable hour
  8. Disruptive productivity
  Realisation
  classic driver #3
  1. thought experiment: collecting every penny
  2. Leaving money in the street
  3. Realisation as a diagnostic indicator
  4. Better profits through better realisation
  Cost management
  classic driver #4
  1. thought experiment: operating a law firm for £50 per hour
  2. Cost management in context
  3. temptation to slash costs
  4. Pitfall number 1: not knowing what it costs to produce a legal service
  5. Pitfall number 2: overinvestment in multiple offices
  6. Pitfall number 3: not keeping up with the technology
  7. Pitfall number 4: ignoring partner performance issues
  8. Pitfall number 5: slashing costs without managing risks
  Staff compensation
  classic driver #5
  1. thought experiment: associate compensation in 2030?
  2. Are associates becoming inherently unprofitable?
  3. Looking through the wrong end of the telescope
  4. It's not about the money
  5. Improving associate profitability now
  6. Money into the bottomless pit
  Leverage
  classic driver #6
  1. thought experiment: 40-to-1 leverage?
  2. Finding the fulcrum
  3. Technology, workflow leverage and the future of the law firm
  Being the change
  1. Introduction
  2. Change-challenged or change-ready?
  3. Paradigm shifts in the legal services industry
  4. Is your law firm trudging silently towards oblivion?
  5. Playing a poor hand well.