Growth Strategies for Law Firms
Harvard Deusto Business Research , Volume 7 - Issue 1 p. 47- 58
Law firms that grow intensively can experience problems with maintaining a strategic focus, structural alignment and a balanced staff. This article proposes a process through which management can plan a law firm’s future, by defining a strategy and choosing an avenue for growth. We use a sample of 150 Latin American law firms to describe the differentiation strategies that have been demonstrated in practice. We find that the strategies of “Efficiency,” “Grey Hair” and “Brains” are used by 15.3%, 61.3% and 23.3% of our sample, respectively. Additionally, we describe four growth strategies for law firms.