Innovative Managing Partners

Paralyzed? Snap out of it

“Never before has our future seemed so shrouded in fog and noise,” I’ve written, and discussed its paralytic effects on our decision-making. Comes now academic vindication of just how strong the effect is. But I’ve also dug up, from the same academic source (the Wharton School), a potential antidote. If we have the courage to
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Articles, Innovative Managing Partners, Leadership, Strategy

FT Innovative Lawyers/2013

The other night I was fortunate enough to be invited to attend the FT’s Innovative Lawyers 2013 (US) awards ceremony at the New York Public Library’s main Fifth Avenue and 42nd branch. (The report was published here the next day in the paper, and you can download a PDF here.) Since this is now an
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Articles, Finance, Globalization, Innovative Managing Partners, Leadership

A Conversation with Kate Fritz

One of the more unusual reactions I’ve gotten to “Growth Is Dead” came from Kate Fritz, Managing Partner of Fenwick & West, who I had the chance to talk to recently. Several people have taken the book’s title a bit too literally, but Kate challenged the concept on another plane. She readily agreed that if
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Articles, Innovative Managing Partners, Leadership, Recruiting

Growth is Dead: Part 7-Psychology

At the end of our last piece, I asked aloud whether we as lawyers are intellectually and emotionally capable of adapting to the new market landscape, suggested that adapting would require experimentation and—yes—failure, and noted that countries and industries that did not reflexively punish failure enjoyed stronger long-term growth. Let’s talk about that some more.
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Articles, Business Models, Cultural Considerations, Finance, Globalization, Innovative Managing Partners, Leadership, Partnership Structures, Practice Group Management, Strategy

PRIME/UK – Time for PRIME/World

Here’s a first for Adam Smith, Esq.:  I’m issuing a challenge to US law firms, and to others throughout the English-speaking legal world. The challenge is to create and sustain, on our side of the pond and elsewhere, an initiative to rival what leading UK firms have created, PRIME. If you haven’t heard of PRIME,
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Articles, Innovative Managing Partners, Leadership, Recruiting

Promising Times or Perilous Ones?

LegalWeek has released their annual “UK Top 50″ ranking and it paints a rosy picture of strong revenue and profit growth in the teeth of global economic headwinds.  Specifically: Total revenue of the Top 50 hit £12.96-billion (US$20.25-billion) This was a 5.6% increase over the prior year; While total profits grew 7.7% and PEP by
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Articles, Business Models, Finance, Innovative Managing Partners, Leadership, Strategy

The Incumbent’s Dilemma

Let me line up side by side for you some very current perspectives on the larger issues facing BigLaw. The impressively thoughtful (and articulate) Dr.. George Beaton wrote less than a month ago, in Without re-invention firms’ profits will plunge in line with industry: There’s no doubt about it. In advanced economies the legal services industry as
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Articles, Cultural Considerations, Finance, Innovative Managing Partners, Leadership, Strategy

The Cocktail Trolleys

I doubt many of you, gentle readers, follow David Carr, who writes the Media Equation column for the Monday Business section of The New York Times, but I commend him to you as an enlightened, thoughtful, and experienced observer at the intersection of media, business, and culture.  (I do not know David personally.) But his current
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Articles, Finance, Innovative Managing Partners, Practice Group Management, Strategy

The FT’s Second Annual Innovative Lawyers/US Awards

Last week I had the privilege of attending the unveiling of the Financial Times US Innovative Lawyers 2011 awards here in town. This is an award they’ve been doing in the UK for many years, and I was glad to see it imported across the pond; this was Year 2 of the US awards. The
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Articles, Innovative Managing Partners, Leadership, Strategy

Experimentation Comes to Law Land! (One Can Only Hope)

I suppose when we’re quoted in The Wall Street  Journal it’s worth writing about. So it was with a combination of pleasure and surprise that I opened this morning’s browser tabs to find this piece talking about law schools beginning to introduce more “practical” elements into their curricula, with an associated article (quoted below) talking about
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Articles, Cultural Considerations, Innovative Managing Partners, Recruiting