If there’s one thing that the current economic climate should tell us it is that the days of managing to top line income growth have been left behind. Given that high margins are more difficult to achieve and maintain, firms need to actively manage profit in new and innovative ways in order to avoid running in the red.
In many respects the economic downturn has accelerated a move that has been happening for many of the better run firms for a number of years now, and it isn’t just “expenditure control.” Recognition that the lists produced that track the top law firms based on income size does not necessarily equate to the best managed or most successful firms is starting to hit home. Read more for Business Intelligence
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