Understanding law firm profit and cash drivers: A masterclass for partners and senior managers
London, United Kingdom
Event Date/Time: May 30, 2012
End Date/Time: May 30, 2012
Recruited and promoted on grounds of technical professional excellence, many junior partners and functional heads of disciplines do not have a sufficiently sophisticated understanding of law firm profitability. This translates into misaligned tactical decision making and often missing the opportunity to apply profitable behaviours effectively. The key way to achieve significant competitive advantage in the practice of law is for all senior decision makers, not just the managing partner and finance director, to have a solid grasp of the fundamentals of law firm profitability and cash management and to be able to translate that understanding into effective management of specific areas.