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The article offers information on the importance of strategic planning for law firms, highlighting the increasing risks and opportunities in the legal industry. Topics include the need for strategic planning to evaluate risks and opportunities, the involvement of firm leaders in the planning process, and the time and effort invested in developing formal written strategic plans.

The article identifies issues confronting law firm leaders in 2024. Issues discussed include motivation of lawyers to work harder, use of artificial intelligence (AI) technology to deliver legal services, initiative to respond to economic conditions, the need to focus on the marketing efforts and core practices of law firms, differentiation of a law firm's ability to provide service from other competitors, identification and grooming of future leaders and management of expectations of partners.

The article presents key findings from a survey on law firm leadership, highlighting the challenges and responsibilities faced by firm leaders, including the lack of clear job descriptions, formal training, and succession plans. Topics include the challenges of law firm leadership, job descriptions, leadership training, and succession planning.

"Anybody who says business is great is lying," quips one managing partner. "Firms may be telling everyone how they're ahead of budget, but the reality is that, in spite of [...]

Industrial companies are hiring less consultants and modifying management systems and procedures in an effort to reduce costs associated with hazardous waste cleanups. Companies are forced to reduce costs as cleanups have cost them more than they expected. Cleanup cost per site is projected to start sliding down around 2000. An estimated 75,000 industrial sites are needed to be cleaned up.

The article presents predictions, from BTI Consulting Group, for the growth of the legal markets. It says that some new areas of law like personalized medicine, new food ingredients and food genetically modified organisms (GMOs), and new branches in biotech and life sciences, are expected to emerge and grow in the near future. It says that some established key practices like product liability, class actions and mergers are likely to see good growth in future.

No abstract. [ABSTRACT FROM AUTHOR]