by Bruce | July 25, 2005 | Articles, Cultural Considerations, Finance, Leadership, Practice Group Management, Strategy
How do you make decisions? By that I mean, when facing a material strategic (a/k/a “big”) decision, who do you involve and what is the process you use to decide? (Don’t pretend to blanche at the word “process”—lawyers are all about...
by Bruce | July 21, 2005 | Articles, Compensation, Finance, Leadership, Practice Group Management, Strategy, Technology strategy
Can you say what an incremental dollar of revenue will contribute to profit at your firm? Does it matter if that marginal dollar comes from an existing client or a new client, or which practice group generates it? More pointedly, not all business is good...
by Bruce | July 20, 2005 | Articles, Compensation, Cultural Considerations, Finance, Globalization, Leadership, Partnership Structures, Practice Group Management, Strategy
"Equilibrium" is a term that has special meaning in economics, although its definition can seem somewhat tautological: It’s the state of affairs where there is no impetus or force for change. The textbook example is where the price in a...
by Bruce | July 7, 2005 | Articles, Cultural Considerations, Finance, Knowledge Management, Practice Group Management, Strategy, Technology strategy
A fellow who does internal blogging for a Magic Circle firm (I’m not at liberty to say which one), and who is working on a Ph.D. in knowledge management, just asked me these questions via email, and I thought the subject matter would actually be of interest to...
by Bruce | June 26, 2005 | Articles, Cultural Considerations, Knowledge Management, Practice Group Management, Technology strategy
Perhaps the most valuable achievement of a highly-functioning Knowledge Management system is the ability to identify a colleague within your firm who has pretty much the exact expertise you’re looking for, when you need it. I call this the "Ask...
by Bruce | June 24, 2005 | Articles, Cultural Considerations, Finance, Knowledge Management, Leadership, Practice Group Management, Technology strategy
I previously wrote on the notion of knowledge-focused enterprises (make that: law firms) using internal, behind-the-firewall blogs as tools for "doing" Knowledge Management. For example, if your firm has one or two individuals expert in...