Progressive firms are able to weave knowledge management from various resources into a cohesive business development strategy. What follows is how one law firm’s marketing department might interact with the firm’s lawyers about a business opportunity on a typical day.
On alert — 7:23 a.m. The Google Alert arrived; information systems were preset to notify the marketing department in real time. Industry analysts were monitoring rumors that a subsidiary of XYZ Widgets was experiencing a liquidity crisis. The subsidiary claimed more than $81 million in assets; analysts believed the subsidiary’s value was only a fraction of that. Marketing forwarded the alert to the bankruptcy section leader and requested a meeting to consider the possible opportunity. Preparing for the meeting, marketing reviewed the firm’s contact database to identify relationships with potential decision-makers in the company and generated a list of connections.
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