Saturday 18 June, 2011

Blindingly Obvious (To Those Who Would See)

Reed Smith is launching what is, so far as I know, the first of its kind collaborative partnership with the Wharton School of Business at the University of Pennsylvania.  Called "Reed Smith University" (RSU), the program is a customized "executive education" effort which will bring about 30 Reed-Smith practice managers, office managing partners, and other firm leaders to the Wharton campus each May for an intensive one-week immersion in courses covering leadership, business development, professional support, technology, and law.

Wharton has a reputation for tailoring similar executive education programs for the usual F100 suspects including Merck, Coca-Cola, Microsoft, and IBM, but according to a Wharton spokesperson, this is the first time a law firm has done it.

John F. Smith, III, a partner at Reed-Smith's Philadelphia office, will serve as the first RSU "Chancellor," coordinating between Wharton and the Reed-Smith partnership and helping design and fine-tune the curriculum.  While grades will not be awarded, independent contractors will evaluate the program's overall impact with a view to highlighting what works and what doesn't.

My reaction?  Nearly awe-struck at the vision of Reed-Smith to undertake this venture.  You've heard me say it before, but conceptually nothing differentiates AmLaw 100 firms as businesses from similarly sized corporations, and the time for truly professionalized management has long since arrived.  As Lynn Phillips, head of Wharton's executive education program, put it:

"I just think it shows the growing need for business development and management skills in the legal profession. I think this shows that Reed Smith recognizes how businesses are oriented today and they want to make sure that its top talent has this perspective."
The start of a trend?  It is devoutly to be wished.

No TrackBacks

TrackBack URL: http://www.adamsmithesq.com/cgi-bin/mt5.01/mt-tb.cgi/1957

Leave a comment

Monthly Archives

 
Select a month from the dropdown
 

Recent Entries

     "Wait and [Never] See"
Last week I wrote about innovation and how the early adopters can gain sustainable competitive advantage.  This week is something of a follow-on, albeit one…
     Memorial Day 2011
     Be Innovative? Who, Me?
Jim Surowiecki, writing his regular column in The New Yorker, "The Financial Page," wrote last week about innovation and why it seems to take hold…
     God is in the Details
Alex Novarese, Editor in Chief of LegalWeek, has a smart column this week called "Rugged Individualism--a year of firm-specific achievement in the US." Here are…
     Limits, Still
Normally I don't refer to events stemming from my own experience in commenting on our industry-indeed, this is something of a first in the 8-year…
     Who's Signing Your Paycheck?
A loyal and exceptionally thoughtful reader, and reasonably regular correspondent (also with a strong academic background in economics), writes: Bruce: I enjoyed your 9 February think…
     Adam Smith, Esq. Launches A New Company: JD Match
Today Adam Smith, Esq. takes great pleasure in announcing the launch of a new company dedicated to rationalizing and bringing a measure of order, efficiency,…
     Fifth in Our Series on Strategy: What it Takes to Be Tier 2
Recently, I wrote about what I called the Tier 1/Tier 2/Tier 3 challenge for BigLaw. Briefly, the Tiers are: 1: What everyone aspires to. Think…
     Fourth in Our Series on Strategy: Tier 1, Tier 2, Tier 3?
Toby Brown and Ron Friedmann (both friends) have a thoughtful and well-reasoned point/counter-point going over at "3 Geeks and a Law Blog," which they invited…
     We're Not The Newspaper Industry
When Slate writes about it, it's entered the mainstream. In this case, that would be the "whopping" 11.5% year over year drop in the number…
     Seminar on Value-Billing Fee Arrangements/New York/March 24
I'd like to bring to your attention an all-day seminar happening here in midtown New York on Thursday, March 24th, sponsored by the Ark Group…
     The "Adam Smith" Award for Innovation in Legal Service Delivery
A couple of weeks ago I learned that the legal department of Kraft Foods issued its "Adam Smith" award, for innovation in the delivery…
     Reminder: Brief Survey on Law Firm Leadership
Don't forget to the take the Law Firm Leadership Survey co-sponsored by Adam Smith, Esq., and Vault.com, Inc., the leading online career intelligence site.The survey…
     Third in Our Series on Strategy: Bad Strategy
As a management consultant to law firms, perhaps the most consistently infuriating phenomenon I encounter (all the time and everywhere, I'm deeply sorry to…
     Joe Flom, 1923-2011
We've all heard the sad news that Joe Flom died Wednesday at age 87.  (WSJ, The American Lawyer, The New York Times, DealBook) Over 20…
     A Modest Proposal for Alternative Fees
There's been so much talk recently about "alternative fee arrangements" (AFAs) that, frankly, we're exhausted. But before we give up on the subject entirely…
     Survey on Law Firm Leadership: An Adam Smith, Esq./Vault.com, Inc. Collaboration
With delight I can announce that Adam Smith, Esq. is embarking on a collaborative effort with Vault.com, Inc, the leading career intelligence site for those…
     What's the Half-Life of a Lateral Partner in London?
A-ha! That, at least, was my reaction when reading the research report published this week in The Lawyer.  Here are the top-line results, and then…
     New Client Minimums? Meet DLA
Tim Bratton, the general counsel of the Financial Times, has an interesting perspective on DLA Piper's recently announced plan to revamp its client base.…
     Winners Take All? Yes, No: Debate Among Yourselves
I suppose that when it's in The Wall Street Journal, it's true. Well, it's certainly true that attention must be paid. Which brings us…
     Show Me the Money (And the Love)
Here on Adam Smith, Esq., we've never devoted a lot of ink to work/life balance issues or, for that matter, to lawyers' happiness with…
     Kaizen Comes to The City
A few days ago I had a chance to catch up with my friend Alex Hamilton, now at radiant.law.  (I knew Alex in his previous…
     Second in Our Series on Strategy: Strategic Planning 101
Booz & Co.'s Strategy + Business published something of a primer called "Successful Strategic Planning" last month, and it's worth a quick review for the distilled--if…
     First in a Series on Strategy in the New Normal
"With all respect, I think that's the wrong question. There's always new stuff out there, and most of it's not very good. Rather than…
     We Are Not Alone
This is a tale of how this is not your father's recession. About a year ago I read Reinhart and Rogoff's This Time is…