The Art of Managing Professional Services: Insights from Leaders of the World's Top Firms

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9780137042524: The Art of Managing Professional Services: Insights from Leaders of the World's Top Firms

Today, millions of people work at over one million professional service firms generating over $2 trillion in revenue annually. These firms face unique issues that are not fully understood by management thinkers and consultants. Making matters more complex is that many of these firms stand at a crossroads, searching for new strategies and practices to succeed in a radically new economy. In The Art of Managing Professional Services, Maureen Broderick offers the solution.

 

Broderick has brought together modern best practices for these and other crucial areas of professional services management:

 

· Building, communicating, and maintaining shared vision, values, and culture

· Recruiting, training, and evaluating people

· Crafting the right strategies, portfolio, and mix of clients

· Innovating and sharing knowledge

· Financial planning, metrics, and reporting

· Positioning: brand, marketing, and sales

· Defining effective partnerships: equity, selection, and compensation

· Ensuring responsibility and accountability

· Organizational design, structure, governance, and systems

· Leading effectively, and growing the next generation of leaders

 

This book reflects Broderick & Co.'s unparalleled research into professional services management, including 200+ executive interviews with leaders and innovators in organizations of all sizes and types.

 

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Review:

 

From the Back Cover:

“High praise for Maureen Broderick…. Her book gives firm leaders a step up in competing on the global landscape.”

–James Turley, Chairman and CEO, Ernst & Young

 

“Anyone involved in the management of a professional service firm will find real value here.”

–David Childs, Global Managing Partner, Clifford Chance

 

“Maureen Broderick brings shape and clarity to the vital, but abstract, essence of professional service firms.”

–Ralph Shrader, Chairman and Chief Executive Officer, Booz Allen Hamilton

 

“Broderick’s book is filled with best practices that will help all kinds of companies–whether they are professional service firms or not–meet the challenges of doing business in the 21st century.”

–Ray Kotcher, Senior Partner and Chief Executive Officer, Ketchum

 

“Every professional service partner–and aspiring partner–should read this book.”

–Paul Laudicina, Managing Officer and Chairman, A.T. Kearney

 

“This comprehensive overview of best practices from the world’s leading firms will resonate with leaders and managers.”

–Eric Friedman, Executive Partner, Skadden, Arps

 

“The takeaways are fantastic!”

–Andy Cohen, Co-CEO, Gensler

 

“One only needs to read this book to realize that managing a professional service firm is very much an art, if not a science, worthy of its own special study and examination.”

–Mike Goss, Managing Director and COO, Bain Capital

 

Building and managing a professional service firm is very different from running a product-based business. Infrastructure, governance, talent acquisition and retention, and compensation and financial management vary significantly from traditional corporate environments. Conventional management advice doesn’t offer all the answers, and mainstream business gurus rarely address the unique challenges facing professional service firm leaders.

 

The Art of Managing Professional Services is one of the most comprehensive, research-based guides to firm management ever written for
the industry. Based on more than 130 in-depth interviews with leaders of the world’s top firms, the book offers practical, proven, best practices on how to tackle the ten critical areas that firm leaders must monitor to build and maintain a strong organization: vision, values, and culture; people; clients; services; finance; positioning; partnership; strategy; structure; and leadership style.

 

Maureen Broderick draws on her 30 years of experience in professional services to explore both the art and science of running a high performance firm. She presents tangible processes and programs—including 40 featured best practices—that readers can tailor to their own organizations and cultures. Inside you will learn:

 

>> How to create and maintain a shared vision, values, and culture

>> Best programs to recruit, train, and retain great people

>> Strategies to develop and manage a profitable portfolio of clients

>> What it takes to innovate services and share knowledge

>> The key metrics to monitor financial health

>> Insights into effective positioning, marketing, and selling firm services

>> Proven practices for rewarding and managing the partnership

>> A guide to both long-term and annual strategic planning

>> Balancing structure and governance in a consensus-driven organization

>> Secrets for leading “incredibly smart and independent people”

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Book Description Pearson Prentice Hall, 2010. Book Condition: New. Brand New, Unread Copy in Perfect Condition. A+ Customer Service! Summary: "Maureen Broderick offers a comprehensive and insightful look at the professional service discipline by zeroing in on one key question: 'What do the best firms do?'" Jim Quigley, CEO, Deloitte Touche Tohmatsu Limited "Leading and managing professional service firms is more art than science. It is an arena where judgment, intuition, energy, a thick skin, and keeping balance at all times are critical factors for successparticularly given the unusually high intellect, super-sized egos, and mobility of those whom you lead, most often at their discretion. Of all the books I have read on the professional service industry, Maureen Broderick has best captured the very essence of those best practices which have enabled some of the industry's most successful firms to prosper and grow." Joe Griesedieck, Vice Chairman, Korn/Ferry International "This book provides invaluable insight into what makes professional service firms successful. It will change every person into a better leader. Plus it provides real-life examples that are fun to read." Ed Nusbaum, CEO, Grant Thornton International Ltd. "By uncovering the various paths to success that these diverse professional service firms have taken, the reader develops his or her own ideas on how to navigate the professional service terrain.The Art of Managing Professional Servicesis a valuable source for these insights into firm strategies." Evan Chesler, Presiding Partner, Cravath, Swaine & Moore "This is a book about entrepreneurial leadershiplooking under the hood of the 'best in class' professional service firms' vision and culture. The book captures what makes service organizations tick as successful global leaders. The takeaways are fantastic!" Andy Cohen, Co-CEO, Gensler "Edelman enhanced its quality program to help manage the company's rapid diversification and globalization. Maureen Broderick's insights into building high-performance firms would have made our transition smoother and faster." Richard Edelman, President and CEO, Edelman "Broderick's research has revealed the views and practices of some of the world's top professional firms, presented in an easily absorbed style. Very informative." David Maister, author ofManaging the Professional Service FirmandStrategy and the Fat Smoker "Maureen Broderick's book,The Art of Managing Professional Services, provides a valuable contribution to the very limited body of knowledge on managing professional service firms. These firms are simply very different than other corporate structures, and successfully managing them requires a very different approach. Maureen's insights from her research and interviews provide a very useful understanding of the subtleties of managing these institutions." Bob Dell, Chairman and Managing Partner, Latham & Watkins "Maureen Broderick distills the art of firm management into clear, concise practices through candid insight and perspective from leaders of the world's most prestig. Bookseller Inventory # ABE_book_new_0137042523

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