“Top 10 Knowledge Strategies for Larger Law Firms,” a 57-page white paper for law firm leaders, is now available from the Knowledge Strategy Interest Group, which I chair, in the Law Practice Division of the American Bar Association. Knowledge strategy focuses on improving efficiency and quality at the practice group level through better collaboration and sharing of what lawyers know about client work, about clients, about markets for their services, and about their firms as businesses. Knowledge strategy also emphasizes involvement by the firm's senior-most leaders, which is the main driver of change in law firms.
How a practice management technique called knowledge strategy can help law firm leaders achieve strategic goals – ideas from a former AmLaw 20 senior partner.
There are gaps between what law firm leaders acknowledge they should be doing and what they are actually doing, according to Altman Weil's annual “Law Firms in Transition” survey, released last week. For example, while 96% of respondents believe more price competition and a focus on improved practice efficiency are permanent changes in the law firm environment, only 55% of firms with 250 or more lawyers have significantly changed their strategic approach to efficiency in delivery of legal services. This post comments on improving efficiency in delivery of legal services, then presents a summary of the full survey, which also covers other topics.