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Leveraging Charismatic Leadership to Facilitate Change in Big Law
It's no secret that Big Law, not to mention the entire legal industry, has experienced unprecedented and profound change since 2008. And it's expected to continue. According to Altman Weil's 2015 Law Firms in Transition Survey, 72% of law firm leaders believe the current pace of change will only increase. Yet despite appearing to accept that rapid and ongoing market change is here to stay, firms, and their leaders, have responded with change efforts that can largely be described as limited and reactive short-term solutions. Why? The answer is simple, implementing significant organizational change isn't easy. There is inevitably resistance from powerful stakeholders, namely partners, who see no reason to modify operations currently meeting their personal needs.
That said, to keep pace with clients' relentless demand for greater efficiency and predictability in the delivery of legal services, law firm leaders must be capable of facilitating deeper strategic initiatives that drive vital firm-wide change. By embracing the practices of charismatic leadership, law firm leaders can guide their firms toward the adoption of methods that enable the firm not to just survive, but thrive in the increasingly competitive and highly dynamic legal industry.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
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