A new book entitled Remaking Law Firms: Why and How shows BigLaw firm leaders why they must start their remaking journey now and then sets out the ways in which change can be made and the tools to use.
Authored by Dr George Beaton and Dr Imme Kaschner, the new book brings together 40 experts from around the world to address fundamental management and growth issues where the BigLaw business model is now increasingly less well suited to competing in an industry characterized by buyer power, cost pressures, increasing digitization, and substitutes.
Law firm prosperity is not assured
Globalization, commoditization, digitization, deregulation and the move of more work in-house are among a host of trends the authors and contributors address and provide prescriptions for. The book is based on the researched conclusion that no law firm can assume its place and prosperity are assured, so it is written to help traditional law firms continue to be relevant to their clients and financially rewarding for their partners.
Solutions for law firm leaders
Importantly, a diagnostic tool for law firms is provided. It helps firms to assess their levels of awareness of changes in the legal services market, to what degree individuals and firms have already changed how they win work and how they do work, and the change readiness of their firms. The scoring process directs change initiatives by identifying strengths and weaknesses in specific areas that are important in remaking the firm.
Endorsed by numerous legal services sector experts
Numerous prominent legal services sector leaders have endorsed the book — including Professor Richard Susskind, Author of Tomorrow’s Lawyers and co-author of The Future of the Professions, who describes it as: “A lively blend of consulting experience and management theory, this book sets a challenging agenda for law firms of the future. With evident expertise, George Beaton and Imme Kaschner ask and answer the central questions of strategy for twenty-first century legal businesses.”