The programme is organised around two main themes which leaders at law firms should focus on to be successful in the increasingly competitive and disrupted environment: Leading Strategically and Leading People.
|COMPETITIVE STRATEGY AND CREATING COMPETITIVE ADVANTAGE
To occupy a value proposition that is differentiated from other law practices, the leaders of your firm must think strategically. We will first develop a common understanding of what strategy is, why it is important to have a strategy, and what strategy means at your law firm and in the dynamic legal service industry. Then, we will review the process of formulating and implementing a strategy. Due to the increasing competition and the emergence of disruptive players, the legal service industry is becoming increasingly commoditised. Before you formulate a strategy, you should analyse this dynamic industry environment to identify the critical success factors and evaluate your current competitive situation. Then, generate strategic options that can offer sustainable competitive advantage, which is at the heart of any strategy. We will consider how to create sustainable competitive advantages.
|ACHIEVING STRATEGIC INNOVATION: UNDERSTANDING THE VALUE INNOVATION FRAMEWORK
Setting your law firm apart from rivals requires going beyond the traditional concepts of strategy through innovating value. Value innovation is a new way of analyzing your situation and generating novel strategic options. It focuses on making the competition irrelevant by creating a leap in value for your clients customers and for the firm, thereby opening up new and uncontested market space. Value innovation is also a potent way to generate strategic insights. In the rapidly-evolving legal service environment, value without innovation will provide only incremental or temporary advantages that are easily imitated by competitors. But by creating value that clients have never experienced before, you can attract clients who have never considered seeking your services. Thus value innovation enables you to rewrite the rules of engagement in the legal service industry and turn the tide in your favor.
Once you have created a concept for differentiating your law firm from rivals, you need to translate your value-creation idea into one or more concrete initiatives that you can execute. The chief challenge in implementing a strategy is aligning your partners and other stakeholders. We examine how to move an initiative forward when it requires the cooperation of people with different priorities, clients, and practice area challenges. Then we examine how to learn and adjust as you execute a strategic initiative, adapting your strategy as you accumulate experience and feedback from the market.
|LEADING ORGANISATIONAL CHANGE IN THE DIGITAL ERA
Taking a firm beyond its established practices can create fear and anxiety, which leaders must help their people overcome. We first discuss when and why people resist changes, with a focus on the challenges that digitisation presents for law firms. We then examine how to mobilise your team behind a clear vision of a better future. Then we show how a series of small forward steps, quick wins and constant feedback sus
|LEADING HIGH PERFORMANCE TEAMS
We first discuss how leaders create and maintain a high-performance climate that attracts, develops and retains superior talent. We then examine how to keep people engaged, so they give their best to their work. We evaluate the motivational tools at the leader’s disposal, showing how compensation policy fits into a larger framework that helps you grow and sustain your practice. This allows firms to keep their top performers in a competitive labour market while sustaining the perception within the firm that rewards are fair. Finally, we examine team effectiveness and discuss ways to ensure the team you lead is more productive than the sum of its individual talents.
|DEVELOPING YOUR PERSONAL LEADERSHIP PHILOSOPHY
When you assume the mantle of leadership in a professional services firm, a number of personal challenges arise. In this session, we first explore how to develop yourself to cope with the expectations and responsibilities that accompany a leadership role. What competencies are required and how do you develop them? We then focus on who you are as a leader vs. who you want to become, and discuss specific steps you can take to grow along your chosen path.
|RE-ENTRY AND PERSONAL DEVELOPMENT PLANS
Too often, participants leave leadership development programmes full of enthusiasm and ideas, only to be overwhelmed by the challenges of Business-As-Usual when they return to their roles. We first describe why this happens and convey how to effect a successful re-entry. We then help you craft a plan for furthering your own personal development as a leader while you push forward your value-creating agenda within your firm.
Case studies, lectures, classroom discussions, and small group discussions will provide participants opportunities to deliberate on the determinants of sustained success. Exposure to real-world issues will help participants work through possible approaches and solutions to the problems that leaders of professional service firms including law firms confront on a daily basis. The anticipated time commitment that participants should consider investing in pre-programme readings is expected to be approximately 5-6 hours.