How to transform the profitability of city law firms: part II

Abstract

Purpose

The purpose of parts I and II is to demonstrate in detail precisely how any city law firm can transform its profitability. Part II examines the business model, the “us” and “them” divide, alternative careers for lawyers, change management and culture change.

Design/methodology/approach

Sets out how the left‐brain business model limits the ability to transform profitability, pushes firms towards becoming a low cost producer and denies the ability to gain a competitive advantage; also sets out a range of strategies to reduce the “us” and “them” divide that currently exists; emphasises the need to provide a range of alternative careers for lawyers rather than continue with an “up” or “out” approach; demonstrates the dominance of the innovative change management paradigm, the negative consequences on effective change management and what could be a successful balanced change management paradigm; considers the importance of culture, why culture change initiatives fail and the damage caused by the lack of any explicit change management paradigm, and what could be a successful explicit paradigm that would transform profitability.

Findings

The left‐brain business model denies the ability to transform profitability or to gain a competitive edge in the marketplace. Profitability and motivation of graduates joining law firms would increase if a range of alternative careers was provided. Developing and implementing a balanced change management paradigm would radically improve change management and profitability. Creating a cultural competitive edge through implementing an explicit, team‐based cultural paradigm and focusing development on the core development competences of delegation and co‐ordination would transform profitability.

Originality/value

The value of part II is in enabling the reader to understand the complete range of strategies to transform city law firm profitability.

Citation

Eales‐White, R. (2006), "How to transform the profitability of city law firms: part II", Industrial and Commercial Training, Vol. 38 No. 6, pp. 308-316. https://doi.org/10.1108/00197850610685608