When we commit 4,000-plus words to the state of a single law firm – as in this week's analysis of Barlow Lyde & Gilbert – the subject tends to be going through a turbulent period, or at least major change.

Given that it's our starting point when investigating such issues to provide the benefit of the doubt, this means that we will always go out of our way to see what successes there are to counter-balance the rather more obvious reverses.

Sometimes, finding those successes isn't easy. So what is most surprising in the case of Barlows is that such reasons for optimism are relatively numerous and rather more convincing than the causal observer might expect.

After all, the firm's woes have been exhaustingly publicised; low profits, slow growth, a stream of departures, strategic flip-flopping – so complete is the checklist for a tanking law firm that you almost feel obliged to shout bingo by the end of it. And such travails are no short-term thing – Barlows has been one of the worst top 50 performers over the last 10 years and has been comprehensively outclassed by rivals like Clyde & Co.

And yet – while there can be little doubt that Barlows has a wasted decade behind it, efforts to revive its fortunes look rather credible upon close inspection. For one, many of the strategic steps to modernise its governance taken over three years ago are hard to fault and are now credited with giving the firm more direction. Ironically, though former chief executive Clint Evans took more than his share of flak, a good number of positive steps that now appear to be paying dividends were in no small part due to his efforts.

But it's not just about having a solid gameplan – businesses rise and fall on how they execute plans, not on strategic brilliance. On this measure, the firm was until recently bogged down with fiefdoms and internal discord, making a poor job of getting things done or uniting the partnership behind difficult decisions. In this regard, the pairing of senior partner Simon Konsta and chief executive David Jabbari has certainly made ground with a more robust leadership style that has shifted from a lack of action to almost an excess of execution.

In a short space of time the partnership has been reshaped, a renewed insurance focus has been established and an audacious takeover of Halliwells' insurance business sealed. Even the firm's many critics concede much ground has been made – even if the patience among departing partners for the firm to get its act together had waned.

True, some still doubt the firm's broad-church insurance model, and its current aim of going international will be daunting to achieve, but a workable plan is there. Now it will be down to the firm to make good on its goals – but on recent form, the odds appear to be fast improving.