One of a managing partner’s key roles is leading his or her firm in strategically choosing the practices for which it wants to be known. These are the core practices in which the firm will invest time and resources. Obviously, the selection should be based on the
potential for gains in market position and profitability. But the job goes well beyond making the choice: A crucial component involves selling the decision to partners in noncore practices. Failure to do this, or doing it wrong, can alienate partners, encourage defections, and maybe even incite a revolt.
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