SWOT Analysis of Law company
Law company SWOT Analysis
The main strength of the firm is its human capital. The firm is having staff of over 300.
Strong organizational structure. Partners and senior solicitors have many junior solicitors and legal clerks under their supervision.
The firm outsourced the services of an experienced mining industry legal specialist for improvement of its service offerings to the mining industry.
The firm is just two years old that means it’s not established yet.
The firm is facing problems in achieving its business growth targets and greater depth in service offerings.
Client portfolios are generally overseen due to jealousy among the partners of the firm which in turn hurting the business of the firm.
As partners and senior solicitors earn by charging high rates therefore, the cost competitiveness of the firm is low.
The junior staff is at the mercy of senior staff.
The junior staff usually receive less than the half of the amount that is billed out to the client.
The legal clerks are not getting credit from the partners for the extra working hours.
The senior staff take credit of the work done by the junior staff. Therefore, there is lack of trust, teamwork, and respect, which are key pillars of effective working relationships.
Senior staff ignore the pressure and difficulties faced by the junior staff and that is because of “individual high achievement”, the fundamental spirit of the industry culture.
Non-cooperative behavior of the senior staff to the outsourced mining industry legal specialist.
The firm outsourced the services of an experienced mining industry legal specialist that would help in improving the caliber and scope of service offerings of the firm.
The firm staff can improve their performance by taking advantage of the expertise of the mining industry legal specialist by referring legal matters to him that requires his expertise.
As litigation is becoming more and more complex, therefore, many clients look for legal specialist with strong industry knowledge.
The client firms are now grown into larger firms and they have their own legal people that are readily available when needed.
Achieving Clients satisfaction is even more difficult these days as the firm’s clients are more sophisticated and sensitive to overcharging by the senior staff.
Resultantly better junior staff, when accumulate enough experience, are often head hunted by larger client firms for their legal operations which is the major threat to the firm’s revenues.
Two years are quite low to accumulate the expertise and reputation; therefore, the firm is still unable to win lucrative contracts in the corporate sector.
Due to current culture of the firm, the outsourced experts also wants to leave the firm.
The firm is losing good staff members, even the experts due to non-satisfaction.https://www.capitalbudgetingtechniques.com/swot-analysis-of-law-company/Market AnalysisSWOT AnalysisLaw company SWOT Analysis Strengths The main strength of the firm is its human capital. The firm is having staff of over 300. Strong organizational structure. Partners and senior solicitors have many junior solicitors and legal clerks under their supervision. The firm outsourced the services of an experienced mining industry legal specialist for... email@example.comAdministratorCapital Budgeting Techniques