Abstract :
This paper addresses the business issues faced by RP, a mid size law firm tiered 4 in Indonesia, including unnecessary fixed costs associated with renting a large office space, stagnation in rankings by legal 500 and IFLR, and challenges in maintaining client relationships and service quality amid growth. The author aims to conduct research on the law firm industry to analyze and understand the specific conditions of RP. The research seeks to propose effective business strategies to help RP generate more revenue, regain its original market position, and overcome the aforementioned challenges. By thoroughly analyzing RP’s current situation, this study aims to identify the necessary business solutions that will enable RP to meet client needs, enhance profitability, and gain a competitive advantage in the legal market. The findings and recommendations from this research are expected to provide valuable insights for RP and contribute to the advancement of strategic decision-making within the law firm industry.
Keywords :
business solutions, business strategies, competitive advantages, law firm.References :
- Barney, J. (1991) Firm Resources and Sustained Competitive Advantage. Journal of Management, 17, 99-120.
- Porter, M.E. (1985) Competitive Advantage. Creating and Sustaining Superior Performance. Free Press, New York, 557 p.
- Porter, M.E. (2008) The Five Competitive Forces that Shape Strategy. Harvard Business Review, 86, 79-93.
- Prahalad, C.K. and Hamel, G. (1990) The Core Competence of the Corporation. Harvard Business Review, 79-91.
- Semple, Noel, Measuring Legal Service Value (March 20, 2018). UBC Law Review”Measuring Legal Service Value.” University of British Columbia Law Review, 52, No. 3, pages 943-1006., Available at SSRN: https://ssrn.com/abstract=3144771 or http://dx.doi.org/10.2139/ssrn.314 4771
- Rothaermel, F. T. (2019). Strategic Management 4th Edition. McGraw-Hill Education.
- Thompson, A. A., Gamble, J. E., Peteraf, M. A., & Strickland, A. J. (2022). Crafting and Executing Strategy: The Quest for Competitive Advantage Concepts and Cases 23rd Edition. McGraw-Hill.
- Webster Jr., F.E. (1994) Market-Driven Management. Using the New Marketing Concept to Create a Customer-Oriented Company. John Wiley and Sons, New York.
- Weihrich, H. (1982, April). The TOWS matrix—A tool for situational analysis. Long Range Planning, 15(2), 54-66. https://doi.org/10.1016/0024-6301(82)90120-0