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What Management Expects

What Management Expects. What the Firm Expects of Management. Making "It" (the firm) Work – "Blah, Blah, Blah …". Ownership Legacy Respect Service. Excellence Integrity/Honesty Teamwork Contribution Accountability. What is Missing From the "Blah, Blah, Blah …".

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What Management Expects

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  1. What Management Expects

  2. What the Firm Expects of Management

  3. Making "It" (the firm) Work – "Blah, Blah, Blah …" • Ownership • Legacy • Respect • Service • Excellence • Integrity/Honesty • Teamwork • Contribution • Accountability

  4. What is Missing From the "Blah, Blah, Blah …" • Understanding the Need for Interdependence throughout the Firm • Judgment

  5. "Interdependence" • A Relationship in which each Member is Mutually Dependent on the Others.

  6. Policy Committee Firm’s Organizational Chart Executive Committee Managing Partner General Counsel Deputy Managing Partner Practice Division Chairs Firm Committees Chief Operating Officer Commercial Litigation I Bankruptcy & Creditor’s Rights Investment Advisory Recruiting Chief Financial Officer Recruiting/Professional Development Director Commercial Litigation II General Business Associate Evaluation Associate Development Chief Marketing Officer Office Managers (non-KC) Commercial Litigation III IP & Technology Diversity Contingent Fee Human Resources Director Office Services Director Corporate Finance Real Estate/Public Law & Finance Charitable Political Contribution Chief Information Officer Facilities Director Energy & Environmental Telecommunication Tax, Trusts & Estates Pro Bono PoliticalAction Technology Records Library Banking & Financial Services 6 12933619_1.pptx

  7. Why is "Making it Work“ Critical? Most Firms Look Like: Big Rainmakers Average Rainmakers Everything Else

  8. Firms Should Look Like Partner/Owners Others

  9. The Tipping Point vs

  10. The Tipping Point and Partner/Firm Expectations of Management • Depends on Firm Trajectory • Declining • Stable • Ascending

  11. Opportunity for Establishing Interdependence • Formulation of Annual Budget/Plan • Presentation of Annual Budget/Plan

  12. Case Study Issues for Firm XYZ in 2013 • Technology infrastructureneeds complete overhaul • Accounting (G/L, Time and Billing) facing upgrade that cannot be delayed • Market decline seriously impacting areas of practice • Staffing ratios out of balance with peer firms • Billing and collection realization low causing decreased income

  13. How Do You Manage this Successfully? • Prioritize based on firm trajectory • Communicate the plan to the partners(set expectations) • Communicate the plan to the staff(explain expectations) • Explain the dependencies necessary to be successful • Continue communication of achievement against expectations

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