The Strategic Evolution of Large U.S. Law Firms

Posted: 31 Dec 2008

See all articles by Michael A. Hitt

Michael A. Hitt

Texas A&M University - Department of Management; Texas Christian University

Leonard Bierman

Texas A&M University - Department of Management

Jamie D. Collins

Sam Houston State University

Date Written: January 2007

Abstract

In recent years, large US law firms have been undergoing significant changes. Most have switched from a professional model (P2 form) to a corporate business model, employing competitive strategies and a profit orientation. As the market for corporate legal services became more competitive, many large US law firms began to diversify the services they offer and expand their operations into new geographic regions of the country and into international markets. They even engaged in acquisitions and learned to manage and leverage their critical resources, human capital and relational capital. As a result, most of these law firms have added more professional management. All in all, the services law firms offer and the rivals with which they must contend have changed substantially over the last 15 years.

Suggested Citation

Hitt, Michael A. and Bierman, Leonard and Collins, Jamie D., The Strategic Evolution of Large U.S. Law Firms (January 2007). Business Horizons, Vol. 50, No. 1, 2007, Available at SSRN: https://ssrn.com/abstract=1321801

Michael A. Hitt

Texas A&M University - Department of Management ( email )

430 Wehner
College Station, TX 77843-4218
United States
979-458-3393 (Phone)

Texas Christian University ( email )

Fort Worth, TX 76129
United States

Leonard Bierman

Texas A&M University - Department of Management ( email )

430 Wehner
College Station, TX 77843-4218
United States

Jamie D. Collins (Contact Author)

Sam Houston State University ( email )

Box 2056
Huntsville, TX 77341
United States

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