Successful Digital Transformation in Law firms: A Question of Culture by Isabel

Description: Successful Digital Transformation in Law firms by Isabel Parker Written by one of the most respected leaders of law firm innovation, this book will help those contemplating or leading digital change in law firms to develop and execute a compelling digital transformation strategy. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description •Understand what digital transformation means in a law firm context•Explore the cultural barriers to transformation, and learn how to overcome them•Gain insight from the operating models of successful digital businesses•Develop a business case and practical strategy for digital transformation•Understand the importance of diversity and purpose in driving digital change•Manage change and adoption challenges•Build on learnings from the COVID-19 crisis to accelerate digital transformationAs law firms take stock in the aftermath of COVID-19, there is an opportunity to rethink the law firm operating model for the next decade and beyond. The crisis has reinforced the importance of agility and resilience, and the critical role digital technologies play in client service. For law firms, digital transformation should no longer be viewed as an indulgence, but as an urgent necessity. For those that embrace this challenge, the rewards, for both clients and colleagues, will be substantial.Written by one of the most respected leaders of law firm innovation, this book will help those contemplating or leading digital change in law firms to develop and execute a compelling digital transformation strategy. With a particular focus on the cultural and organisational challenges inherent in a law firm partnership, the book provides practical advice on how to effect meaningful and sustainable change.This invaluable guide for law firm leaders, lawyers, and those leading digital change in a law firm includes plenty of best-practice examples from outside as well as inside the legal profession. The book provides valuable insight for start-ups and technology providers looking to partner with law firms, and for aspiring lawyers starting their professional careers. Along with practical guidance on shaping digital transformation, this engaging work will give the reader a comprehensive overview of the competitive landscape in legal services, sharing diverse perspectives and case studies from leaders from different parts of the legal sector. Table of Contents Acknowledgements 11Foreword by Mark A Cohen 15Introduction 19Part I: Why digital transformation matters – and how to get started 25Chapter 1: What is digital transformation? 271. Meaningful change or management speak? 272. Innovation vs digital transformation 283. Why should law firms change? 303.1 Money, money, money 303.2 Law firm expertise 313.3 The mythology around law firm brand 354. "Only the paranoid survive" 375. The disruption test 386. The art of persuasion 39Chapter 2: Five defining elements of successful digital companies 411. Framing the challenge 412. Adapting best practice to the law firm environment 423. Beware of innovation theatre 434. What does good look like? 445. The five elements of successful digital transformation 455.1 Element 1: digital companies are customer-centric 455.2 Element 2: Successful digital companies have a digital strategy (aligned to business strategy) 615.3 Element 3: Successful digital companies commit to digital change 665.4 Element 4: For successful digital transformation, you need the best (digital) people 745.5 Element 5: Create a culture in which transformation can continue to flourish 80Chapter 3: Developing the vision and strategy 871. Introduction 872. Eight steps to digital transformation 882.1 Step 1: Understand your firms business strateg 892.2 Step 2: Undertake a firm diagnostic and identify digital opportunity 922.3 Step 3: Review the competitor landscape 1022.4 Step 4: Talk to clients 1052.5 Step 5: Create the business case for funding 1082.6 Step 6: Create a plan for execution and assemble the right team 1232.7 Step 7: Create your vision and strategy document and communications plan 1342.8 Step 8: Communicate and manage the change 141Part II: Product development and technology 147Chapter 4: Products 1491. Law firm or software development house? 1492. Embedding products into services 1513. Law firm digital products – some examples 1513.1 The subscription model 1533.2 Partnering to develop and deliver products 1553.3 Client-facing apps 1563.4 Digital platforms 1574. Digital products – the pros and cons 1615. How to develop products successfully 1645.1 Talk to customers 1655.2 Use process 1655.3 Establish product ownership 1655.4 Build a team 1655.5 Work in an agile way 1665.6 Work cross-functionally 1665.7 Measure success 1665.8 Be cognisant of the culture 1666. Establishing a process 1667. The product lifecycle 1687.1 Stage 1: Idea 1717.2 Stage 2: Enablement 1717.3 Stage 3: Validation 1727.4 Stage 4: Proof of concept 1737.5 Stage 5: Minimum valuable product (MVP) 1747.6 Stage 6: Continuous delivery 1747.7 Stage 7: Legacy 1758. Managing the product delivery lifecycle: product ownership 1759. Product owner skills 17610. What does success look like? 17710.1 The right measures 18010.2 The go-to-market strategy 18111. Products – or product thinking? 18312. Products – some final thoughts 184Chapter 5: Technology 1871. Legal tech 1872. Simplification and convergence: making use of what you have 1893. Back to basics 1913.1 Legacy 1923.2 Leadership and digital literacy 1933.3 Cloud 1943.4 Data 1974. Technology leadership 2125. In summary 213Part III: Sustaining the change 215Chapter 6: Petri dish or opera house? Culture under the microscope 2171. The link between culture and digital transformation 2172. Defining culture 2183. The cultural strengths of law firms 2194. Law firm culture: the challenges 2235. Addressing culture under strain: lessons from the financial services sector 2255.1 Governance 2305.2 Incentives 2305.3 Individual accountability 2316. The enduring nature of the partnership model 231Chapter 7: Sustaining change – partnership 2351. Time for a new model? 2352. Structure and culture 2372.1 The importance of agility 2402.2 Investing for the long term 2412.3 Rigidity of career structure 2423. What are the options? 2453.1 Option 1: Specialise 2453.2 Option 2: Choose to change 2483.3 Option 3: The wait and see approach 2484. Six structures that encourage cultural change 2484.1 The acquisition model 2494.2 The captive model 2544.3 The intrapreneurship model 2564.4 The incubation model 2604.5 The spin-off model 2624.6 The IPO 2655. Choosing the right model 2676. Structuring for success 268Chapter 8: Sustaining change – people 2691. Law firms are people businesses 2692. The law firm people problem 2713. Who law firms hire 2733.1 The lawyers 2733.2 The digital professionals 2803.3 The changing role of the law firm HR function 2804. What law firms reward 2914.1 The danger of recruiting in your own image 2914.2 Fee earners and fee burners 2924.3 Cognitive diversity: the power of mixing it up 2954.4 The challenge of multidisciplinary teams 2954.5 Whats the alternative? 2984.6 Cognitive diversity and psychological safety 298Chapter 9: Sustaining change – purpose 3031. Purpose – or perpetuity? 3032. The corporate view of purpose 3033. The law firm response 3074. The role of purpose in sustaining transformation 3085. Becoming purpose-driven – practical steps 309Chapter 10: Final thoughts 313Notes 319About the author 327Index 329About Globe Law and Business 341 Review Law firm partners will realize quickly that Isabel Parker has not pulled any punches in her concise, direct and highly informative presentation of the digital transformation imperative for law firms and how they must rethink traditional approaches to successfully transform. Her own law firm experience, extensive research and talent for clarity combine here to deliver great insights. Almost all law firms give consideration to their culture, but Parkers treatment of the subject is among the best as she provides an in-depth explanation of what it is, why it should matter to law firms and how firms can develop a culture that fosters digital transformation. The insights from this book will be of equal value to inhouse corporate counsel undertaking transformation initiatives. As a general counsel and student of digital transformation for many years, I will highly recommend this book as required reading to law firm partners and my inhouse team alike! -- Bill DeckelmanThoroughly enjoying Isabel Parkers book on successfully implementing digital transformation. Although its predominantly for law firms, the principles apply to in-house as well. Highly recommend! -- Eletra JaponasThis is a much-needed work, few (if any) legal professionals are more qualified by dint of experience, contacts and skill than Isabel Parker to deliver these timely messages. The book is very well written, edited and laid out as a pure visual and production matter, is well documented (but not excessively or annoyingly) by endnotes, and most of all, is well supported on all key points by case studies and interviews. The latter, importantly, are not just from law firms, but as appropriate, from digital leaders outside the legal profession. Both lend additional credibility. The authors approach is fair and balanced; she recognizes both the undeniable strengths and current limitations in a rapidly transforming world of the traditional law firm model. She offers several plausible paths that firms can take in order to adapt, while being keenly realistic about the likely challenges to be faced and difficult choices to be made by law firms that will rise to the challenge and earnestly commit to putting client service first in todays (and tomorrows) world.While focused on law firms, there are many lessons that can apply directly or with slight adaptation to in-house legal departments that are embarking on similar transformation journeys. These lessons are also helpful to corporate legal departments in terms of evaluating law firms innovation credibility and in picking a core group with which to partner. Similarly, vendors to both law firms and legal departments will find Ms. Parkers insights very valuable since they provide such deep context and visibility into the workings of such a key element of the legal profession.The focus on culture is spot on and often under-appreciated; somewhat similar challenges apply in-house since so many in-house attorneys are products of the same law firm culture (and to be sure, educational system and culture of exceptionalism). They still carry some of these characteristics. As such they are often a sub-culture within their corporations, even when the corporations dominant culture is more dynamic and innovative. They (myself included) need to recognize this as we seek to adapt and transform. The authors insights - and the cited research findings - about the importance of cognitive diversity, pluri-disciplinary teams and minimizing the lawyer v. non-lawyer dichotomy when evaluating new ideas apply in both worlds.Very well worth the cost and time spent in reading, highlighting and annotating carefully. -- Robert Dilworth * Managing Director & Associate General Counsel Bank of America * Review Quote This is a much-needed work, few (if any) legal professionals are more qualified by dint of experience, contacts and skill than Isabel Parker to deliver these timely messages. The book is very well written, edited and laid out as a pure visual and production matter, is well documented (but not excessively or annoyingly) by endnotes, and most of all, is well supported on all key points by case studies and interviews. The latter, importantly, are not just from law firms, but as appropriate, from digital leaders outside the legal profession. Both lend additional credibility. The authors approach is fair and balanced; she recognizes both the undeniable strengths and current limitations in a rapidly transforming world of the traditional law firm model. She offers several plausible paths that firms can take in order to adapt, while being keenly realistic about the likely challenges to be faced and difficult choices to be made by law firms that will rise to the challenge and earnestly commit to putting client service first in todays (and tomorrows) world.While focused on law firms, there are many lessons that can apply directly or with slight adaptation to in-house legal departments that are embarking on similar transformation journeys. These lessons are also helpful to corporate legal departments in terms of evaluating law firms innovation credibility and in picking a core group with which to partner. Similarly, vendors to both law firms and legal departments will find Ms. Parkers insights very valuable since they provide such deep context and visibility into the workings of such a key element of the legal profession.The focus on culture is spot on and often under-appreciated; somewhat similar challenges apply in-house since so many in-house attorneys are products of the same law firm culture (and to be sure, educational system and culture of exceptionalism). They still carry some of these characteristics. As such they are often a sub-culture within their corporations, even when the corporations dominant culture is more dynamic and innovative. They (myself included) need to recognize this as we seek to adapt and transform. The authors insights - and the cited research findings - about the importance of cognitive diversity, pluri-disciplinary teams and minimizing the lawyer v. non-lawyer dichotomy when evaluating new ideas apply in both worlds.Very well worth the cost and time spent in reading, highlighting and annotating carefully. Details ISBN1787423824 Language English ISBN-10 1787423824 ISBN-13 9781787423824 Format Hardcover Year 2021 Author Isabel Parker Place of Publication London Country of Publication United Kingdom AU Release Date 2021-11-08 NZ Release Date 2021-11-08 Pages 341 Publication Date 2021-11-08 UK Release Date 2021-11-08 Subtitle A Question of Culture Publisher Globe Law and Business Ltd Imprint Globe Law and Business Ltd Alternative 9781787423831 DEWEY 340.068 Audience Professional & Vocational We've got this At The Nile, if you're looking for it, we've got it. 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