Strategic management for law firms: principles and guidelines
Stan Kozera · 1991
The purpose of this research report is to examine the Queensland Legal Industry and see if the concepts of Strategic Management can be applied to law firms as a way of improving all of the personal and business objectives of the law firm in an industry that is competitive and dynamic. To achieve this objective authoritative texts and papers in the area of strategic management, business policy, competitive strategies, competitive advantage, marketing and management were used to analyse and understand the industry, and the law firm. Furthermore, the areas documented in this report are the areas considered to be the essential areas when applying strategic management in a logical order to the legal industry 'and the law firm. Although the majority of knowledge documented on strategic management is about conventional business or for conventional business, the developed theories and/or principles are capable of being adopted and applied to law firms. The most important conclusion to come out of this research report is that if a law firm wants to have sustainable competitive advantage it must first find itself as a firm, and as part of the legal industry, and then decide what it W3.I,ts to be. In addition to this, the law firm must practice superior marketing because of the degree of contact it has with clients in an industry that is a service industry and one that is labour intensive.