Why Firm Leaders Need To Stay Strategic

Shortly after entering the boardroom and being introduced to the board members, the Chair gave me a copy of the day's agenda. The consensus among firm leaders that I've worked with, is that being disciplined about managing your limited and precious time, to focus on your firm's most i...

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Bibliographic Details
Published in:Of Counsel 2024-04, Vol.43 (4), p.5-9
Main Author: McKenna, Patrick J
Format: Article
Language:English
Subjects:
Leadership
Online Access:Get full text
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Summary:Shortly after entering the boardroom and being introduced to the board members, the Chair gave me a copy of the day's agenda. The consensus among firm leaders that I've worked with, is that being disciplined about managing your limited and precious time, to focus on your firm's most important strategic issues, becomes imperative! I often have the audacity to ask firm leaders a question that painfully illuminates where they spend their time: "What proportion of your time is spent solving problems versus what proportion is spent on exploring new opportunities?" After a rather awkward reflection period, the answer I usually elicit is about 80% of time spent solving problems with 20% on exploring opportunities. Giving your attention to each and every item that crosses your desk and each and every individual that enters your office means dissipating your attention and soon your sense of what is most important. Delegate Effectively From my observations and experience, I would strongly argue that too many firm leaders take on partner problems that others in their firms-notably your office heads or practice leaders-should have the job description responsibility for handling.
ISSN:0730-3815