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What Management

Expects

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What the Firm Expects of

Management

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Making "It" (the firm) Work – "Blah, Blah, Blah …"

• Ownership• Legacy• Respect• Service

• Excellence• Integrity/Honesty• Teamwork• Contribution• Accountability

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What is Missing From the "Blah, Blah, Blah …"

• Understanding the Need for Interdependence throughout the Firm

• Judgment

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"Interdependence"

• A Relationship in which each Member is Mutually Dependent on the Others.

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Commercial Litigation I

Bankruptcy & Creditor’s

Rights

Commercial Litigation II

General Business

Commercial Litigation III

IP & Technology

Corporate Finance

Real Estate/Public

Law & Finance

Energy & Environmental

Telecommunication

Tax, Trusts & Estates

Banking & Financial Services

Chief Financial Officer

Recruiting/Professional Development

Director

Chief Marketing

Officer

Office Managers (non-

KC)

Human Resources

Director

Office Services Director

Facilities Director

Investment Advisory Recruiting

Associate Evaluation

Associate Development

Diversity Contingent Fee

Charitable Political Contribution

Pro Bono PoliticalAction

Practice Division Chairs

Deputy Managing

Partner

General Counsel

Firm Committees

Chief Operating

Officer

Managing Partner

Chief Information

Officer

TechnologyLibraryRecords

Policy Committee

Executive Committee

Firm’s Organizational Chart

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Why is "Making it Work“ Critical?

Most Firms Look Like:

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Average Rainmakers

Big Rainmakers

Everything Else

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Firms Should Look Like

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Partner/Owners

Others

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The Tipping Point

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vs

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The Tipping Point and Partner/Firm Expectations of

Management• Depends on Firm Trajectory

– Declining– Stable– Ascending

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Opportunity for Establishing Interdependence

• Formulation of Annual Budget/Plan• Presentation of Annual Budget/Plan

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Case StudyIssues for Firm XYZ in 2013• Technology infrastructureneeds complete

overhaul• Accounting (G/L, Time and Billing) facing

upgrade that cannot be delayed• Market decline seriously impacting areas of

practice• Staffing ratios out of balance with peer firms• Billing and collection realization low causing

decreased income

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How Do You Manage this Successfully?

• Prioritize based on firm trajectory• Communicate the plan to the partners

(set expectations)• Communicate the plan to the staff

(explain expectations)• Explain the dependencies necessary to be

successful• Continue communication of achievement

against expectationswww.stinson.com © 2012, Stinson Morrison Hecker LLP