business_model_innovation

Is the legal industry ready to change their standard practices in billing, particularly given the economic climate of 2008-2009 and at least the short-term future? If they do change that model, will it least, or go back to “business as usual” when the economic smoke has cleared? Knowledge = precedent = expertise. Why not efficiency and effectiveness as well? Is the industry that should have been the poster child for Knowledge Management finally going to see more reasons to be time and cost efficient, just as most other industries have had to do so to remain competitive and retain clients? Listen to the podcast interview (below) between Christopher Marston, Esquire, CEO and Founder at Exemplar Companies, and Dan Keldsen, Co-founder and Principal of Information Architected discussing the pros and cons of the traditional law firm model, and how that model is evolving and even being flipped upside-down in a disruptive innovation sense. If you are currently a client of a traditional law firm - have they adjusted their model in recent months? Do you feel they should? If are a knowledge management practitioner within a law firm, how do you handle cost justification and Return on Investment (ROI) for knowledge management practices within the firm? Only in certain pockets? Firm-wide? What are the pros and cons that you have seen? War stories you’d like to share from any side of the fence? Please feel free to contribute your comments, concerns and questions, and together, perhaps we can all be that much wiser as the market overall, and awareness of Knowledge Management itself matures. It’s not dead yet - and we haven’t even gotten started yet, particularly in the legal industry. Listen to full episode and ask questions or comment at: http://www.informationarchitected.com/blog/iam-talking-death-to-the-billable-hour-long-live-knowledge/