Professor Michael Porter of Harvard Business School described the 5 forces which affect the strategic position of any business.
The stronger the forces are the more it is important to understand what is going on.
From being a strategic backwater the Legal Services market is now beginning to heat up and the forces are getting stronger.
The five forces are:
This brief article by Andrew Hedley explains why firms need to understand their situation better if they are to thrive in a more dynamic environment.
Using a Competitive Perspective to Chart Your Law Firm’s Strategy