Managing The Professional Service FirmInternational expert and consultant David Maister offers a brilliant and accessible guide to every management issue at play in professional firms. Professional firms differ from other business enterprises in two distinct ways: first, they provide highly customized services and thus cannot apply many of the management principles developed for product-based industries. Second, professional services are highly personalized, involving the skills of individuals. Such firms must therefore compete not only for clients but also for talented professionals. Drawing on more than ten years of research and consulting to these unique and creative companies, David Maister explores issues ranging from marketing and business development to multinational strategies, human resources policies to profit improvement, strategic planning to effective leadership. While these issues can be complex, Maister simplifies them by recognizing that “every professional service firm in the world, regardless of size, specific profession, or country of operation, has the same mission statement: outstanding service to clients, satisfying careers for its people, and financial success for its owners.” |
Contents
A Question of Balance | 3 |
The Professional Firm Life Cycle | 21 |
Health and Hygiene | 31 |
Copyright | |
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achieve activities American Lawyer approach Arthur Andersen asset assignments average benefits billable hours career Chapter client satisfaction client service coach compensation committee competitive consulting costs David H decisions effort engagement ensure executive existing clients experience expertise feedback fees firm management firm's firmwide goals Goldman Sachs Hewitt Associates hiring important improve income statement industry investment issue junior Latham & Watkins learned less leverage Maister managing partner marketing marketplace Marvin Bower ment motivation nonbillable one-firm firms opportunities organization partnership percent performance performance appraisal practice area practice development practice leader problem productive profes professional firms professional service firm profitability rainmaker relationship require responsibility reward role scheduling sell seminar senior professionals sional skill building specific staff staffing Steven Brill strategy structure success tactics target tasks things tion underdelegation