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Using competitive intelligence to boost your firms competitiveness and performance
October 24, 2012
As the market for legal services goes through significant change, and the nature of competition evolves, the only way to grow is to perform better than the competitors in your market.
Founding your firm's strategy and decision making without an understanding of competitor performance and activities is at best risky, and at worst, fatal. However information can be opaque and the potential use of information to help make the right decisions can seem difficult. At the same time, if one can resolve these issues there is a real dividend.
The right understanding and application of competitive intelligence brings strategic benefits. Firms can ensure that their strategies are robust, that the health of the firm is improved, that the right fee earners and other employers are attracted and retained, and that risks are reduced. Gaining and using competitive intelligence effectively can also help performance immediately, for example through winning a greater proportion of tenders, building market share of quality clients, and delivering greater return on investment from marketing and business development efforts.
This masterclass will help you determine the optimal approach to competitive intelligence for your firm. It will look at the application of competitive intelligence within your strategy making and future planning, and work through how a law firm's capabilities and activities across a wide range of areas can be informed and improved by competitive intelligence. The masterclass will also explore the various sources of competitive intelligence and how to help the whole firm, management, and individual fee earners use it in order to gain the extensive benefits available. The masterclass will guide you on how to develop and implement competitive intelligence in your firm and provide a thought-provoking overview of the impact competitive intelligence has had on other industries.
8 Shepherdess Walk
London, N1 7LB