Who doesn’t aspire to work for an organization as innovative and inspiring as Google? Have you considered copying Google’s innovation engine? Take from me a word of advice. If you want to become as innovative as Google, don’t copy their innovation process if you are a professional service provider.
Many law firms seem to have identified Brexit as a great opportunity to deliver novel high value services. How to stand out?
According to the World Economic Forum, the Fourth Industrial Revolution is happening right now. Steam engines, electricity, and information technology revolutionized industries, yet not the professional services. Now cyber connectivity is causing a fourth revolution, driven by artificial intelligence and connectivity. Connectivity between and among people, organizations, and things, is driving this fourth revolution. Does your organization have the capabilities to deal with the impact of this fourth industrial revolution?
Join us for the Incose Tutorial on April 30th: Building An Innovation Engine That Delivers
When it comes to actual legal work, lawyers can innovate like crazy. Corporate lawyers have designed some of the most innovative (and profitable) financial instruments around; litigators are always finding new angles from which to argue cases, and so on. Where we have trouble innovating is in our two main professional mechanisms: practice management and client relations.
In most professional services businesses, your employees are your most valuable asset. Investing in training your talented recruits results in retention, improved profits, and increased competitive advantage. Consider this from The Guardian:
Transforming ourselves is not particularly new. To serve our clients, we have to constantly adapt, accepting, responding to and shaping rather than ignoring disruption. This quote is from a recent Wharton (University of Pennsylvania) article on disruption and professional services innovation.
Everyone is enthusiastic about their innovative ideas when they start. Yet few are still enthusiastic when they have reached the finish line … because few make the finish line. Why do so many innovation projects strand?
Clearly, McKinsey has been, and still is, the leading management consulting firm. While they advise many of their clients how to innovate, in turns out that they themselves struggle to innovate. So if you are wondering how to get the right processes in place to renew your professional services, you are not alone!
I love design, so Nixon Peabody’s office redesign — it’s a K Street law firm in DC — caught my eye. Nixon Peabody has redesigned its interior and gotten rid of the famous corner office to make the work environment more appealing to millennials. It made me wonder, will such a redesign win the heart of millennials? Or are there better ways?
Many industries, from banking and insurance to retail, are undergoing a fundamental redefinition. In part because digital technologies are making it possible for new entrants to disrupt established markets. When this disruption is followed by changes in regulations, many incumbents find themselves having to redefine their business. You need to ask yourself: If these changes are impacting your clients, how will they impact your future business?
Most will associate offense and defense with sports and not with Continuing Legal Education. However, let me explain why it makes sense to consider training your incoming recruits to play either offense or defense. As we know from sports, it is impossible to excel at both when playing at the professional level.