Again and again I come across senior law firm executives who are frantically busy with or concerned about their latest ‘big thing’ but who on enquiry struggle to relate this to the firm’s vision and strategy. Sometimes the latest item getting all the attention has arisen as a few other key competitor firms are doing something similar and are getting some publicity. Or it may have cropped up in a recent firm board discussion or perhaps it is simply an idea that the managing partner or CEO feel strongly about and want to implement – and to hang with the written document!
This is so often the problem with vision and strategy in a firm. A huge amount of work gets invested in getting it done and signed off, but invariably it then gets relegated to the ‘dusty shelf’ category seldom again to see the light of day and certainly not to be the driving framework for all key activities and initiatives in future. What a pity. How unnecessary – an opportunity lost.
Why does this happen? Probably due to one or more of the following . . . .
- the strategy simply gets forgotten;
- its too much hassle to pull it out, read it again and make sure what is being done aligns with it;
- what is being worked on is ‘so obviously important and urgent’, that it ‘must be done’ notwithstanding what might be in the strategy;
- the latest version of the strategy wasn’t really finally signed off and agreed with the partners as that last meeting was postponed. . . . .
- where is the latest strategy document anyway?
What steps should be taken to get maximum benefit out of both initiatives?
- get out the written strategy, dust it off and read it!
- make sure what is being done ties in with it. If it does not, suggest this as a stress-test of the strategy and update it;
- if it was not done before, use the opportunity to summarise the strategy into a page or two so it will never again be an excuse not to pull it out and test some initiative against it;
- announce the new initiative as being an outflow of the revised strategy – this gives the strategy standing in the firm and will make it more relevant when it is (hopefully) reviewed in a year’s time;