A financially and professionally successful law firm does not simply evolve. It must be built in an orderly and systematic manner. The values important to a firm have to be identified, defined, organized and centrally placed. The responsibility for achieving these goals must be keyed to an organizational factor. Whether this is a committee or an individual, ultimately someone must be responsible.
The point to be emphasized is that any partnership, no matter the size, needs leadership. Good law firm management cannot be achieved until all the partners agree to subordinate some degree of independence to a managing partner or an executive managing committee. The partners must strike a balance between their rights as owners and their responsibilities as citizens of the firm. They must relinquish some personal prerogatives in order to achieve the overall results that they would not be able to attain on their own.
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