Competitve Intelligence for Law Firms

Competitve Intelligence for Law Firms

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Competitive intelligence (CI) is already indispensible for leading forward-thinking law firms. In a rapidly evolving market the key to successfully retaining market-share is to anticipate and be prepared for changes, rather than react to unforeseen external influences. Competitive Intelligence for Law Firms is written specifically to help you formalise your approach to CI in the legal sector. It examines in-depth how to gather valuable information and turn it into actionable intelligence in the legal environment while avoiding the legal and ethical pitfalls. From understanding the basics of CI to assessing the value of a variety of information sources and looking at the best applications for each, Competitive Intelligence for Law Firms is a comprehensive guide to implementing a successful CI strategy at your firm. The report analyses Porter's Five Forces model, explores the impact of legal and ethical regulations and details the steps that can be taken to ensure sound practices are followed.
Key sources of information are investigated including: Market research; Informed networking; Accessing company records; and Internet searches (considering the reliability of publicly-available information and looking at ways to avoid misleading 'facts'). Competitive Intelligence for Law Firms also reveals how the resulting knowledge must be disseminated to decision makers and strategists who can utilise the recommendations to create a clear competitive advantage. All this is presented alongside case studies that deliver invaluable practical advice from leading practitioners in the field including: A law firm that has formalised its CI processes into a dedicated in-house team; Practical examples of legal considerations affecting CI; Conducting CI in an international law firm; Market research tools available to the CI professional; and Plus best practice examples of effective CI from outside the legal sector. This vital report can help your firm maintain and develop its position in an increasingly crowded marketplace.
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Product details

  • Paperback | 92 pages
  • London, United Kingdom
  • 1906355185
  • 9781906355180

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Table of contents

Part 1: General Theory; Chapter 1: Introduction; What is competitive intelligence? Points to consider: what should CI be? The business case for CI; Common CI myths; CI applications in the law firm; Chapter 2: The wider principles; The scope of intelligence; Forces at play; Legal and ethical considerations; Competitive counter-intelligence; Chapter 3: Planning; An informed approach; Key intelligence topics (KITs) and key intelligence questions (KIQs) The cycle of intelligence; Timing; Chapter 4: Gathering information; Where to start; Harnessing internal resources; External sources: primary and secondary research; Information sources; External sources of information; Considerations to bear in mind when conducting internet research; Verifying sources; Chapter 5: Analysis - Turning knowledge into intelligence; Producing actionable intelligence; Anomalies; Key analysis areas; Business intelligence; Chapter 6: Dissemination - From intelligence to advantage; Disseminating information; Communicating the findings; Planning strategy and implementing changes; Reviewing the CI process; Chapter 7: Integrating the CI function; The CI practitioner; Integrating CI into the firm; Part 2: Case Studies; Case study 1: DLA Piper - The business case for competitive intelligence; Why does CI miss the mark in law firms? Addressing the issues; What we do at DLA Piper; The future of CI in law firms; Case study 2: Hedley Consulting - The role of competitive intelligence in shaping strategy; Introduction; Why competitive intelligence matters; The strategy process; What types of competitive intelligence should be sought? In conclusion; Case study 3: Competitive intelligence at Lloyd's; Background to Lloyd's; Competitive intelligence at Lloyd's; Case study 4: Osborne Clarke - Using intelligence to inform marketing and sales activities; Strategic intelligence; Focus on marketing and sales; Market opportunities; Campaign and event development; Tenders and pitches; Client relationship management; An intelligent view of the future; Case study 5: Acritas - Understanding the value of market research; Case study 6: Bennett Jones - Using intelligence to inform the RFP process; The RFP process; The RFP response; Primary data and intuition; Case study 7: Baker Donelson - Delivering intelligence through the knowledge management system; Managing the internal information flow; The industry perspective; Competitor intelligence; How have we benefitted? Looking to the future; Measuring the benefits; Case study 8: Wragge & Co - Demonstrating the benefits of actionable intelligence; Index.
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