/9918578/Banner

/9918578/Banner_2

/9918578/Mid

section

articleId

product

orgType

parrefer

accountID

Consulting

Banking

Accounting

Fintech

Internships

Rankings

Internship Rankings

Intern Resource Center

Explore Internships

Vault Law Home

Practice Area Resource Centers

Regional Resource Centers

Summer Program Resource Center

Vault Law Culture & Inclusion Survey

Vault Law

Guides

Events

Financial Services

Technology

Grad School

Work Relationships

Productivity

Diversity, Equity & Inclusion

Social Impact

Remote Work

Negotiating

Changing Jobs

Workplace Issues

Blog

Resume Samples

Cover Letter Samples

Interview Tips & Questions

A Day in the Life

International

Career Readiness

Explore Professions

Research Industries

Search Companies

Career Advice

Employers

Schools

&lt;p&gt;&lt;span&gt;&lt;font face=&quot;Arial&quot; size=&quot;2&quot;&gt;According to Edwin Reeser, blogging at &lt;/font&gt;&lt;font face=&quot;Arial&quot; size=&quot;2&quot;&gt;LegalOnRamp&lt;/font&gt;&lt;font face=&quot;Arial&quot;&gt;&lt;font size=&quot;2&quot;&gt;, &amp;#8220;It&amp;#8217;s time to build the law firm that both clients and lawyers want.&amp;#8221; &lt;/font&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;&lt;font face=&quot;Arial&quot;&gt;&lt;font size=&quot;2&quot;&gt;If both lawyers (&amp;#8216;providers&amp;#8217;) and clients (&amp;#8216;consumers&amp;#8217;) are so justifiably unhappy with the status quo, what is to be done?&lt;span&gt;&amp;nbsp; &lt;/span&gt;That question is not exactly answered&amp;#8212;instead we get a look at the baleful influence of consultants on the legal profession: &lt;i&gt;&amp;#8220;Scores of law firms are chasing down a business or &amp;#8216;strategic&amp;#8217; plan they paid hundreds of thousands of dollars (in some cases more than a million dollars) for, dashing to, and already in some cases over, the ocean cliffs like lemmings.&amp;#8221;&lt;/i&gt; &lt;/font&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;&lt;font face=&quot;Arial&quot;&gt;&lt;font size=&quot;2&quot;&gt;According to Reeser, all the usual restructuring moves undertaken by firms (e.g., jettisoning low value practices and underperforming partners) have been a &amp;#8216;disaster&amp;#8217; for the industry.&lt;span&gt;&amp;nbsp; &lt;/span&gt;Why?&lt;/font&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;&lt;font face=&quot;Arial&quot;&gt;&lt;font size=&quot;2&quot;&gt;&amp;#8226; &lt;b&gt;The consulting business has a fundamental flaw. &lt;/b&gt;(i.e.,&lt;b&gt; &lt;span&gt;&amp;nbsp;&lt;/span&gt;&amp;#8220;&lt;/b&gt;&lt;i&gt;Consultants can only sell the advice that clients are willing to buy.&amp;#8221;&lt;/i&gt;) &lt;span&gt;&amp;nbsp;&lt;/span&gt;Consider the rating agency evaluations of bonds on behalf of i-banks, or feasibility studies preformed for real estate developers: &lt;i&gt;&amp;#8220;If the consultant&#39;s alternative to a fair and objective analysis is starvation &amp;#8230; expect the report to be something less than a full treatment of the issue.&amp;#8221;&amp;nbsp; &lt;/i&gt;&lt;/font&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;&lt;font face=&quot;Arial&quot;&gt;&lt;font size=&quot;2&quot;&gt;&amp;#8226; &lt;b&gt;Consultants ask the wrong questions.&lt;/b&gt;&lt;span&gt;&amp;nbsp; &lt;/span&gt;Firms hire consultants to advise them on how to increase profits per partner. Consultants should be asking &amp;#8220;How do firms provide better quality service and work product at a lower price for its clients?&amp;#8221;&lt;/font&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;&lt;font face=&quot;Arial&quot;&gt;&lt;font size=&quot;2&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;&lt;font face=&quot;Arial&quot;&gt;&lt;font size=&quot;2&quot;&gt;&amp;#8226; &lt;b&gt;A structural change is not a solution. &lt;/b&gt;For the last decade or so, consultants have been advocating that law firms adopt a strategy of growth + a &amp;#8216;practice group-centered&amp;#8217; (as opposed to &amp;#8216;geographic&amp;#8217;) restructuring.&lt;span&gt;&amp;nbsp; &lt;/span&gt;For Reeser, this is akin to &amp;#8220;&lt;i&gt;deciding that henceforth during the game of musical chairs, everyone will march clockwise, as opposed to the old process of marching counterclockwise. The challenge of operating more effectively remains&lt;/i&gt;.&amp;#8221;&lt;/font&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;i&gt;&lt;span&gt;&lt;font face=&quot;Arial&quot; size=&quot;2&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/span&gt;&lt;/i&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;&lt;font face=&quot;Arial&quot;&gt;&lt;font size=&quot;2&quot;&gt;&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;-posted by brian&lt;/font&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;

Vault Law Editors

Article

The Summer Experience at Weil’s Boston Office

The Summer Experience at Weil’s Miami Office

The Summer Experience at Weil’s New York Office

The Summer Experience at Weil’s Washington, D.C. Office

The Library