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The upcoming challenges for managing partners in 2015

By Valerie Toon, Managing Partner at Mundays

20 January 2015

The core challenge for UK law firms in 2015 is how to be and remain competitive in a rapidly-changing market. The pace of change since the implementation of the Legal Service Act was initially slower than many had anticipated. I am sure that this was partly due to the recession, but also to the natural conservatism inherent in our training.

However, there are now more 300 authorised alternative business structures, and it is widely thought that, with a better economic outlook for the UK and the rest of the world, the pace of change will only accelerate.

In 2015 and beyond, managers of traditional law firms will need to figure out what's needed to remain the firm of choice for their clients. This will be a world in which more of the same will not be enough. Clients will no longer accept having to wait days for a written update on their case; they will also increasingly expect us to demonstrate t...

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