MPF WHITE PAPER - AW 2014 Law Firms in Transition - 10-21-14
MPF WHITE PAPER - AW 2014 Law Firms in Transition - 10-21-14
MPF WHITE PAPER - AW 2014 Law Firms in Transition - 10-21-14
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<strong>20<strong>14</strong></strong> L<strong>AW</strong> FIRMS IN TRANSITION<strong>Law</strong> <strong>Firms</strong> <strong>in</strong> <strong>Transition</strong>: Change PreparednessComparison of firm leader confidence by year:LOW MODERATE HIGH<strong>20<strong>14</strong></strong> <strong>21</strong>.6% 65.3% 13.2%2013 <strong>21</strong>.0% 66.0% 12.9%2012 11.3% 74.3% <strong>14</strong>.2%2011 7.8% 68.3% 23.9%Firm leader confidence decl<strong>in</strong>edafter 2011 and has not rebounded.Comparison of <strong>20<strong>14</strong></strong> change preparedness factors <strong>in</strong> the legal profession:LOW MODERATE HIGHConfidence of firm leader <strong>21</strong>.6% 65.3% 13.2%Awareness of partners 36.8% 55.9% 7.3%Adaptability of partners 48.8% 49.1% 2.1%<strong>Law</strong> firm leadersunderstand newcompetitive andoperational pressures,but often havepartners who do not.Increas<strong>in</strong>g partnerawareness is afundamental precursorto achieve buy-<strong>in</strong> onstrategic <strong>in</strong>novationsthat leaders will wantto implement.An Altman Weil Flash Survey 7
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