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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from Responding to Mega Trends – Evolve your business models. Full table of contents below. Developing and implementing robust strategies Professionals tend to focus on their domain of expertise rather than developing and implementing strategies for their firms. Yet in the face of

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from Responding to Mega Trends – Create a highly networked firm. Full table of contents below. Evolve your business models In 1748 Benjamin Franklin first wrote the credo that seems to have become the foundation of modern society: “Time is money.” In 1865

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from Responding to Mega Trends – Build strategic transparency. Full table of contents below. Create a highly networked firm Many professional services organizations are not really firms, they are a set of individual professionals working under the one banner. If, however, firms can

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from Responding to Mega Trends – Lead your clients into knowledge-based relationships. Full table of contents below. Build strategic transparency Don’t fight the trend—you’ll only end up getting run over. The MegaTrend of Transparency can be your friend, if you take a thoughtful,

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from Commoditization. Full table of contents below. Responding to the MegaTrends The first imperative for any professional and professional services firm leader is to recognize the reality of the MegaTrends. Denial does not help. The days of working towards becoming an equity partner

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from Globalization. Full table of contents below. MegaTrend Seven: Commoditization A commodity is quite simply a product or service for which the customer sees only one significant difference between what’s on offer: the price. The drive towards commoditization is perhaps the most powerful

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from #5 Modularization. Full table of contents below. MegaTrend Six: Globalization Across the board, boundaries and borders are blurring almost into non-existence. It is no longer possible to ignore the fact that the economy is global. A pointed example is eLance, the world’s

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from #4 Transparency. Full table of contents below. MegaTrend Five: Modularization One of the most important, yet least visible, implications of the current phase of information technology is the ability to break down business processes and activities into their components. Web services is

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from Connectivity. Full table of contents below. MegaTrend Four: Transparency On October 25, 2004, the board of directors of financial services conglomerate Marsh & McLennan announced “significant reforms to the business model… which will be rooted in transparency.” The controversy on the payments

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from #2 Governance. Full table of contents below. MegaTrend Three: Connectivity As we bustle about with Blackberries, mobile phones, WiFi laptops, and for the novelty seekers sometimes an entire armful of devices, we can now consider ourselves connected. Aside from when they’re out

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Download the complete White Paper: The Seven MegaTrends of Professional Services Continued from #1 – Client Sophistication. Full table of contents below. MegaTrend Two: Governance The cowboy days are over. In the space of a couple of years at the beginning of the century, the business world shifted dramatically. Enron, WorldCom, Arthur Andersen, and similar

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http://www.rossdawsonblog.com/weblog/archives/2006/02/seven_megatrend.htmlDownload the complete White Paper: The Seven MegaTrends of Professional Services Continued from Introduction. Full table of contents below. MegaTrend One: Client Sophistication What do you prefer? A sophisticated client, or an unsophisticated one? It’s an interesting issue to debate with professionals. Some say they like unsophisticated clients, because, as they usually express a little

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Around six months ago, I wrote a White Paper for the enterprise software company Epicor titled “The Seven MegaTrends of Professional Services: The Forces That Are Transforming Professional Services Industries and How To Respond”. The paper has attracted a huge amount of interest, however up until now, it has only been available on sites requiring

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David Maister, the über-guru of professional services, has embraced blogging and podcasting. In a revamp last week of his website, which has always provided extensive resources, he has launched a blog titled Passion, People and Principles. It is highly interactive, responding in depth to questions and conversations raised by clients and the professional services community.

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Bruce Marcus has been writing the Marcus Letter on Professional Services Marketing for about a decade, originally as a print newsletter, and now online. His broad experience makes him one of the true doyens of the field. His excellent recent book, co-authored with August Aquila, Client at the Core, goes into the practical detail of

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Last week I chaired a conference on Strategic Law Firm Management organized by Ark Group. While there was disappointingly little on law firms’ high-level strategic positioning and how that may shift over coming years, there were a wealth of insights into more general management issues. Clearly, people and culture are at the heart of managing

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Ketchum PR, one of the top few public relations agencies in the world, has just posted on their company intranet an interview with me on major trends in PR. They’ve kindly allowed me also to post it here on my blog. The key themes they distilled from our original wide-ranging interview are on the role

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Nasscom, the premier technology commerce body in India, has just released a report saying that 35,000 legal jobs will move overseas from the US by 2010, while Forrester Research says that 12,000 legal jobs had already gone overseas by last year. A wide variety of US and UK law firms in particular have gone down

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An article yesterday on Bloomberg News (not available on the web) confirmed what a PricewaterhouseCoopers executive told me last week: PwC, Deloitte, and Ernst & Young have all issued instructions to their partners and staff not to denigrate or poach the clients of KPMG. The Bush administration is seeking a settlement on charges related to

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I changed the subtitle on the recent second edition of Developing Knowledge-Based Client Relationships to “Leadership in Professional Services” (from “The Future of Professional Services”), as leadership is the primary theme I developed in rewriting the book. Professionals must be leaders outside their firms, in showing their clients the value of collaborative relationships, and leaders

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