For the many years that I have been a management consultant to law offices, I have been intrigued by those characteristics that are present in the more financially and professionally successful law firms, but which are wholly or partially lacking in under-achieving firms. As the result of consultations with hundreds of managing partners and members of executive committees, below are 16 characteristics that are usually found in most successful law firms.
Development, Recognition and Articulation of Shared Values: In most financially and professionally successful law firms, one can identify a handful of partners who are central to the success of the organization. The attitudes and shared values of these partners become critically important to maintaining the desired environment. These firms have leaders who represent a model of performance and talk about the firm’s values other than money. If the ties that bind are only economic, the organization will be highly unstable and vulnerable. Most unstable environments sooner or later become decidedly noncollegial, and partners in such organizations frequently become disrespectful of each other.
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