Serveral articles in the Novak Druce Centre Spring 2010 newsletter are worth reading. Christopher McKenna, the director for the center, commented on strategies firms should consider as they become part of the global market. This article addresses the broad view of globalization rather than detailed “how-to” strategies. Determining a personal and firm philosophy about “professional service firms” (legal outsourcing providers, in particular) comes before designing working relationships with them. One thing is clear, though, as we’ve been saying at Fronterion all along, status quo is not satisfactory in a global marketplace any longer.
Another article titled “Run With The Gazelles But Eat With The Lions” by a leading academic expert on the topic of legal outsourcing, Mari Sako predicts the upcoming influences on international law firms. Here are several key quotes:
“Innovation in legal services is also about discontinuous changes. What the economist Joseph Schumpeter wrote a century ago is still relevant today: discontinuous change happens as a result of five things: the introduction of a new product or process, the opening of a new market or source of supply of intermediate goods, or a new organization design. For law firms, discontinuous change is happening as a result of his last two factors - new sources of supply and new organizational design.”
“But remember the old adage: ‘Run with the gazelles but eat with the lions’. That combination of the abilities to move fast and at the same time to identify where the value chain will be protein-richest will be key. Law firms take note.”
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