Operationalizing Resources: The New Balance

Almost a decade from the financial crisis of 2008, the so-called new economy has wrought fundamental shifts across the business spectrum, including challenging long-established norms for the legal profession.   Intense new scrutiny driven by the pressures to reduce costs has created a new normal characterized by persistent pressures on rates, billing models and fee arrangements, quality and outcomes. As the profession struggles with the challenges to their 100-years-old model, the market has also introduced a broad base of new competitive players, models and approaches to fundamentally redefine legal work.
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Memo to Lawyers: The Customer is Always Right

A century ago Harry Selfridge, the London retailer, declared: “The customer is always right.”  The temptation to interpret this too literally belies the wisdom of the remark, because with an economy of words, Selfridge captured the cornerstones of success in any service business: (1) convince the customer that s/he will receive good service; and (2) convince employees to provide a positive customer experience.  This was a departure from the “caveat emptor” standard of the time.
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Insights

MarketView: IP Management Systems