Maureen Broderick

The Art of Managing Professional Services

Insights from Leaders of the World's Top Firms

• Broschiertes Buch

Produktbeschreibung

Today, millions of professionals work at over one million professional service firms generating over $2 trillion in revenue annually. These firms face unique issues that are not fully understood by management thinkers and consultants. Making matters more complex is that many of these firms stand at a crossroads, searching for new strategies and practices to succeed in a radically new economy. This book is the solution. Maureen Broderick has brought together modern best practices for these and other crucial areas of professional services management:

• Building, communicating, and maintaining shared vision, values, and culture
• Recruiting, training, and evaluating people
• Crafting the right strategies, portfolio, and mix of clients
• Innovating and sharing knowledge
• Financial planning, metrics, and reporting
• Positioning: brand, marketing, and sales
• Defining effective partnerships: equity, selection, and compensation
• Ensuring responsibility and accountability
• Organizational design, structure, governance, and systems
• Leading effectively, and growing the next generation of leaders

This book reflects Broderick + Co.'s unparalleled research into professional services management, including 200+ executive interviews with leaders and innovators in organizations of all sizes and types.

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Produktdetails

• Verlag: Financial Times/ Prentice Hall
• Seitenzahl: 320
• Erscheinungstermin: 24. Oktober 2010
• Englisch
• Abmessung: 228mm x 151mm x 20mm
• Gewicht: 420g
• ISBN-13: 9780133353822
• ISBN-10: 0133353826
• Artikelnr.: 36869416

Autorenporträt

Maureen Broderick is founder and CEO of Broderick & Company, one of the few consulting firms that focus exclusively on professional services. Broderick & Company provides strategy, research, and thought leadership services to many of the world’s leading firms. Before founding Broderick & Company in 1996, Maureen spent close to 20 years working in-house for industry leaders ranging from Price Waterhouse and Booz Allen Hamilton to the law firm Brobeck, Phleger & Harrison and the research institute SRI International.

Inhaltsangabe

Foreword by Jay Lorsch   xv
Acknowledgments   xvii
About the Author   xxi
Introduction   1
Chapter 1: Professional Services   9
Characteristics, challenges, and leadership model
Common Characteristics of Successful Firms   10
It’s Not All Good News   13
The Broderick PSF Leadership Model   14
Chapter 2: Shared Vision, Values, and Culture   17
Building, communicating, and maintaining
Five Essentials of Vision, Values, and Culture   20
Embedding Values and Culture   22
The Reinforcement of Values and Culture Begins with Recruiting   23
Telling the Firm’s Story Reinforces the Culture   24
Teams Teach You How to Live and Work in the Firm   24
Constant Communication Is Critical   25
Celebrate and Reward Good Behavior   28
Making Values Stick   28
Revitalizing Vision, Values, and Culture   31
Chapter Summary   38
Chapter 3: People   39
Recruitment, training, and evaluation
Seven Essentials of Talent Management   41
Recruiting: Refreshing the Ranks   43
Interviewing and Selection: Choosing the Best Candidates   46
Mapping a Career Path   47
Training: Fostering Connectedness and Commitment   51
Mentoring: Providing Personal and Professional Support   55
Performance Evaluations: Frequent and Thorough Feedback   60
Diversity Looms Large–and Will Continue to Pose a Major Challenge   62
Chapter Summary   63
Chapter 4: Portfolio   65
Strategy, client mix, and relationship management
Five Essentials of Client Portfolio Management   67
Mastering the Client Management Life Cycle   69
Step One: Strategically Plan and Review the Client Portfolio   70
Step Two: Onboard New Clients   75
Step Three: Sustain and Grow Accounts   76
Step Four: Solicit Client Feedback   88
Step Five: Review and Measure Results   91
Chapter Summary   94
Chapter 5: Services   95
Strategy, innovation, and knowledge sharing
Four Essentials of Successful Service Portfolio Management   97
Follow the Service Strategy Cycle   98
Step One: Review the Service Portfolio   99
Step Two: Stimulate and Capture New Ideas   102
Steps Three and Four: Select the Best Ideas, and Take Them to Market   108
Step Five: Share Knowledge   111
Four Essentials of Knowledge Management   112
Chaper Summary   119
Chapter 6: Finance   121
Planning, metrics, and reporting
How Do the Top Firms Manage Finance?   123
Financial Planning and Budgeting   124
Forecasting   126
Metrics to Monitor the Business   127
Revenue   129
Profitability   130
Utilization   131
Pricing   132
Leverage   136
Performance Efficiency   137
Early Warning Signs   138
Reporting   139
Transparency and Accountability   142
Chapter Summary   146
Chapter 7: Positioning   147
Brand, marketing, and sales
Five Elements of a Successful Market Strategy   149
The Power of Brand   151
Determine the Market and Brand Positioning   151
Embed and Build the Brand   155
Keep the Message Clear and Consistent   160
Regularly Test Brand Strength   160
Marketing   161
Sales   162
Building a Marketing and Business Development Plan   164
Firm-wide Brand Initiatives   164
Business Unit Plans   166
Master Plan, Timeline and Budget, Tracking and Measurement   167
Thought Leadership: The Most Powerful Way to Grow the Business   170
The Role of the Marketing Professional   175
Areas of Focus for the Marketing Department   177
Chapter Summary   182
Chapter 8: Partnership   183
Equity, selection, and compensation
Six Characteristics of Enduring Partnerships   184
Selecting an Ownership Structure   186
Advantages and Disadvantages of Ownership Structures   187
Public Versus Private   192
To Sell or Not to Sell   195
Equity Programs to Attract and Retain the Best   197
Rewarding the Partners: Dividing the Pie    203
Distribution Models   203
Evaluating Performance   205
Partnership Performance Criteria   208
Partnership Selection: A Pivotal Decision    211
Criteria for Promotion to Partnership   212
Partner Promotion Process   213
Chapter Summary    216
Chapter 9: Strategy    219
Process, responsibility, and accountability
Why Strategic Planning Matters   221
Five Essentials for Successful Strategic Planning   223
Orchestrating the Planning Process   226
Long-Term Planning   227
Annual Planning   231
Review, Monitor, and Update   232
Accountability   234
Chapter Summary   236
Chapter 10: Structure    237
Design, governance, and style
Why Getting It Right Is So Challenging   239
Seven Essentials for a Successful Infrastructure and Governance Model   240
Organizational Structure: The Scaffolding That Supports the Firm   243
Board of Directors: Composition and Selection   244
Chairman: Selection and Role   247
CEO: Selection, Role, and Succession   248
Management Committee: Composition and Selection   253
Business Units: Structure and Seat of Power    254
Other Functions/Special Initiatives   257
Administrative Support   257
Changing the Structure   258
Governance Style   259
Chapter Summary   263
Chapter 11: Style of Leadership    265
Characteristics, grooming, and advice
Essential Characteristics of a Successful Leader: Emotional Intelligence
and People Skills   267
Good Influencer/Builder of Coalitions   268
Inspirational and Passionate   268
Visionary   268
Good Listener   269
Good Communicator   271
Understands the Business   274
To Bill or Not to Bill   274
Grooming a Global Leadership Corps: Finding and Nurturing Future Leaders  
278
Some Parting Advice for Leaders   284
Author’s Note   286
Index   287
 
Lessons from Leaders
Chapter 2: Shared Vision, Values, and Culture
Teaming at Cravath    26
Booz Allen Hamilton Core Values   29
Edelman Revisits Vision and Values   32
Korn/Ferry Changes Its Vision and Culture   34
Chapter 3: People
Recruiting at ghSMART   48
Career Development at Booz Allen Hamilton   50
Latham & Watkins Multistage Career Training   53
Training at Bain & Company   56
Plante & Moran’s Team-Based Mentoring  59
Chapter 4: Portfolio
Grant Thornton Client Experience Program   77
Black & Veatch Client Portfolio Mix   81
Account Management at Burson-Marsteller   83
Client Management at Ernst & Young   87
Edelman’s Client Feedback Program   90
Chapter 5: Services
Deloitte Australia’s Innovation Program   104
CSC’s Office of Innovation    107
Knowledge Management at Grant Thornton   116
Chapter 6: Finance
Black & Veatch Forecasting Process   128
Metric Management at Gensler   141
ghSMART’s Budget, Dashboard, and Review Process   144
Chapter 7: Positioning
Brand Management at Skadden, Arps   156
Euro RSCG Life Culture Scan   158
Growing an Industry Program at Ernst & Young   168
Thought Leadership at Booz & Company   174
Chapter 8: Partnership
Slater & Gordon Becomes the First Law Firm to Go Public   193
The Acquisition Process at Baker Robbins & Company   196
Gensler’s Principal Evaluation Process   207
Compensation Criteria at Eversheds   210
Making Partner at Egon Zehnder International   215
Chapter 9: Strategy
Planning at Peppercom   225
Hewitt’s Planning Process   229
Annual Planning at Ernst & Young   233
Chapter 10: Structure
Clifford Chance Offshoring Program   242
Election Process at Skadden, Arps   250
A.T. Kearney Revamps Structure and Governance   261
Chapter 11: Style of Leadership
Ogilvy Public Relations Worldwide: Leading Growth    270
KPMG: Leading Through a Crisis    272
Clifford Chance: Leading Through Transition    275
Cultivating Leadership at O’Melveny & Myers    281
Emerging Leaders Program at Dewberry   283