Law firm business models and workplace culture

Law firm business models and workplace culture contributed by Michael Milnes is an especially welcome contribution to Dialogue on Remaking Law Firms; the piece is based on a Masters thesis and examines the nexus between business models and workplace culture.  

Michael sets out what he learned about making BigLaw firms a great place to work. 

Remaking News of the Week: BigLaw’s last mile problem

This week on Remaking News we feature Bill Henderson, Professor of Law at Indiana University and founder of Legal Evolution presenting The Legal Profession’s Last Mile Problem.

Break the law firm business model

Today we re-publish Break the law firm business model, Jordan’s Furlong’s inaugural post on the blog of the ABA’s Center for Innovation, on the Advisory Board of which Jordan serves. He starts by quoting what is becoming an apocryphal statement by Neota Logic founder Michael Mills: “Innovation destroys hours” and goes on to say those three words in a 2014 blog post summarize the fundamental challenge that every law firm faces today. They reflect two market realities that are inherently incompatible with each other.

Since I published Remaking Law Firms: Why & How in 2016 (ABA) the realisation that the business model of BigLaw firms is their Achilles heel has been gathering momentum. Jordan concludes this post by addressing BigLaw leaders and owners: “You’re going to have to change your law firm’s business model eventually”; read on to understand the logic of his argument.

New Book: What’s Your Digital Business Model?

Today I am unabashedly recommending What’s Your Digital Business Model?, a new book by Peter Weill and Stephanie Woerner. Chairman and Senior Research Scientist at MIT’s Center for Information Systems Research, Peter is regarded as the leading researcher and thinker in this space – and he is also my friend and former colleague at Melbourne Business School.

Watch the video, buy What’s Your Digital Business Model and accelerate your organization’s digital journey.

Navigating the multi-polar legal market

Economic status of the BigLaw business model

Just released, Citibank’s findings on the economic status of the BigLaw business model make insightful – and to futurists like me, pleasingly confirmatory – reading. Gretta Rusanow of the Law Firm Group in Citi Private Bank and her team have produced an outstanding analysis of the economic facts of BigLaw life and the probable future.