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Dissecting The Processes of Law Firm Strategic Planning

Patrick J. McKenna and Michael B. Rynowecer


\We have been informed that 49% of law firm leaders indicate “strategic planning is more important than ever.” Another 20% say it is tremendously important.



Law firms have more money at risk than ever before. They have more attorneys in their firms to communicate with. And – they are looking at bigger markets along with a multitude of new ones. Meanwhile, the world is awash in geopolitical risk.


Strategic planning brings all this together by evaluating risk and opportunity - the plan itself defines what a law firm will and won't do. The strategic path brings about the most informed and thoughtful decisions - and with the amount of money at stake - no firm deserves less. Such is the world of law firms and their strategic planning efforts as identified in a survey we just distributed to over 200 large North American law firms. This survey defines where these law firms are in their strategic planning process and where they are headed.


We canvassed and received detailed feedback from firm leaders, all from firms of over 100 lawyers in size, on their specific approach to strategic planning and their responses to 16 sequential questions covering everything from who was involved in developing their current strategic plan and how long it took, to how satisfied they were and the one thing they would change with respect to their efforts going into the future..


The complete white paper can be downloaded here:


Strategy White Paper
.pdf
Download PDF • 847KB

 

About the authors: Patrick J. McKenna, is an internationally recognized authority on law practice leadership and strategy,

who has worked with the top leadership of premier firms around the globe to discuss, challenge, and

escalate their thinking on how to manage and compete effectively.

Michael B. Rynowecer, is President of The BTI Consulting Group, the leading provider of strategic

research and client feedback to the legal community who, for more than 30 years, has conducted

compelling research on key performance aspects of the legal industry. #PatrickJMcKenna #MichaelBRynowecer #lawfirms #leadership #planning #strategy


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