How to transform the profitability of city law firms: part I

Abstract

PurposeThe paper seeks to demonstrate in detail precisely how any city law firm can transform its profitability. Part 1 considers relevant concepts – change preference, paradigms and different approaches to creativity.Design/methodology/approachThe four change preferences are defined, and the impact of difference on language and approach to leadership is considerd. The profiles of partners in a city law firm are examined. The organisational paradigm or recipe for success is defined, and the impact of implicit beliefs or blind spots is considered. The paper seeks to provide the reader with an understanding of cognitive thinking styles – adaptive and innovative, and connect to the “cautious control” and “positive creative” change management preferences.FindingsPartners, on average, have a left‐brain bias and prefer to have a logically detached approach to change, rather than a focus on people issues. Decision takers have an innovative approach to change management. City law firms would best manage change by setting out a long‐term strategic intent, with a series of corporate challenges, implemented sequentially and connected to the past.Originality/valueThe paper will enable the reader to understand key relevant concepts and learn how law firms can most effectively manage change.