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Accounting and Financial Planning for Law FirmsFeaturesGeneral Counsel and In House CounselLaw Department ManagementLaw Firm FinancialsLaw Firm ManagementLaw Firm Marketing and Business DevelopmentLJN NewslettersTechnology Media and Telecom

The Business Intelligence to Competitive Intelligence Continuum

By Mark T. Greene

Law firm leaders are faced with myriad decisions every day, from the mundane to the strategic. Each is an exercise in risk management. Not too many years ago, good decisions made by smart lawyers were sufficient. Law firms were raising their fees substantially every year and attorney incomes were soaring.

Those good old days ended for most firms shortly after 2008, when the market for corporate legal services shifted from being supply-driven to demand-driven. Now, corporate buyers are largely calling the shots, and excellent decision-making by law firm leaders is required as firms work to maintain their profitability.

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