Why Are Global Firms Less Profitable?
For the past two decades, global expansion has been pitched as a clear choice for big law firms. Strong economic growth in emerging markets combined with the increasing global presence of Western corporations made a powerful case that law firms had much to gain and little to lose by expanding abroad.
ALM’s recently released Global 100 dataset suggests that the argument for global expansion was oversold. The Global 100 data, which provides financial and headcount information on the world’s largest law firms, shows clear tradeoffs to global networks. International firms are less efficient revenue generators than their domestic peers. They are also significantly less profitable.
Read More: https://www.law.com/sites/2016/10/21/why-are-global-firms-less-profitable/
Data is interesting, still not conclusive. Is not as simple as global are less profitable. And if networks are the future of profitability, Dentons should be on a different position. Strategy, analyzing positioning and the business model in particular should be the beginning. There is not such one size fits all. And recipes don't work for Law firms.
Solicitor | Head of International | at award winning London Law Firm Mackrell.Solicitors
7 年Which is why global legal networks - such as Mackrell International with 92 "local" offices in 60 countries - are the future of international legal work.
Berater von Top-Anw?lt:innen und Kanzleien, Keynote Speaker, Provocateur, Change Agent, Herausgeber und Autor von Standardwerken zum Kanzleimanagement
7 年Di Blasio from citi bank has told them for decades that offices have NO statistical effect on profits! Some still love the dots on a map strategy...