3. Horizon Scanning: Clients Wish Law Firms Routinely Provided Horizon Scanning as Part of the Overall Service Offering
There is significant opportunity for law firms (and other legal service providers) to provide horizon scanning as part of client service.
May 11, 2021 at 02:00 AM
3 minute read
The original version of this story was published on Lean Adviser
In Fall of 2020, ALM conducted a survey with 18 members of Global Leaders in Law (global general counsel) and learned that 56% were not satisfied with their outside firm ability to conduct horizon scanning and provide proactive solutions to address the uncovered trends.
Then Spring of 2021, ALM conducted a research study on horizon scanning with 38 global inhouse leaders. The findings indicated that there is significant opportunity for law firms (and other legal service providers) to provide horizon scanning as part of client service. And for those already providing some kind of horizon scanning, there is clearly an opportunity to make improvements to what is being offered.
Let's define horizon scanning broadly based on how we see the respondents using the phrase — the identification of emerging risks and threats as well as opportunities for industries and specific businesses within those industries.
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