The implosion of Wolf Block has led many, including this author, to wonder what went wrong. How can law firm leaders enhance chances for firm survival and growth in the face of a poor economy and limitations on lines of credit? By looking at the organizational elements, which dynamically interact to create a law firm that flourishes or one that heads toward dissolution, I will offer an answer to that question.
There are six broad organizational elements, any one of which might serve to sink a law firm in a rough sea. When they combine and interact with each other in a complex and chaotic way, they become a singular force that creates a flourishing or floundering law firm. The elements are external environment and resources, identity, business strategy, structures for running the business and getting the work done, processes for running the business and getting the work done and people (groups and individuals).
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