Strategic Budgeting for Lawyers

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"Escaping the 'more for less' trap" for In-house counsel, private practice lawyers & legal services CXOs interested in “breaking the mould” London June to end September 2018 by Doodle Poll Choose your dates here: https://doodle.com/poll/aup96h7uxtawaeyk £750 +VAT "The business" is asking in-house counsel to do "more for less". Law firms are pushing their partners to bill more hours."New Law" needs more deals, faster. In-house teams are often in a no-win situation. All operate under unsustainable levels of stress. There is no competitive advantage to be gained by perpetuating a stressed sector. What if the commercial legal community - in-house, private practice and New Law - were able to persuade "the business" to take a different view: to see Legal as an enabler of business strategy, not a cost to be driven down? If lawyers don't act together the perceived value of their work will fall, except at the very highest levels of advice. Artificial Intelligence will accelerate this process. In response to this problem and based on my work with legal teams over the last ten years I have developed a three-step Strategic In-house Budgeting Model: Step 1: Strategic SWOT analysis: as agreed by the Board Step 2: “Clean page” budget: as if no legal function in place Step 3: Agree on new behaviour: to develop, sell-in & execute Everyone depends on "the business". So why not co-operate to improve everyone's relationship with it? Ciarán Fenton June 2018

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