Now that the financial results of the first six months of 2017 have been distributed to the partners, the challenge confronting managing partners is whether to continue, or revise, the strategies and tactics that were employed during the first six months, to address those internal and external developments that have influenced and will continue to influence their firms' financial performance going forward.

If change is called for, this article describes the recommended processes that will enable managing partners to re-think how they should address those developments that will affect their firm for the rest of the year, and longer.

Survey Partners

The managing partner, assisted by members of the management committee, should survey all or a representative number of partners to determine their basic priorities and the general goals the firm should be aiming for. They should find out if the firm's recent progress, when compared to competing firms in its marketplace, is advancing, falling behind or holding even in terms of professional competence, prestige and money.