Lateral Growth, Strategic Planning: Top Law Firm Management Tools

Lateral Growth, Strategic Planning: Top Law Firm Management Tools

Bain & Co.’s annual global survey of the top 25 management techniques employed in major corporations is reported widely in the business press.  Consistently, year in and year out, strategic planning is rated the top management technique utilized in the corporate world.

In mid-2005 Altman Weil conducted a survey of chairs and managing partners of the 200 largest US firms (as measured by revenues).  Participants were asked to identify which of 24 management techniques they had used and to rate their experience with those they had employed—whether they deemed them to be very successful, successful, neutral, somewhat, or not at all successful.  Many of the techniques are included in the Bain survey, but some are unique to law firms, and other techniques included in the Bain study are not included as they do not apply to law firms or likely would not be recognized by them (e.g., supply chain management, activity based management, economic valued-added analysis, price optimization models, open-market innovation, mass customization, radio frequency identification). 

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