Cashing in knowledge
The inherent value of a firm lies in its knowledge capital, which means knowledge management must take centre stage when law firms contemplate mergers. Tony Sadler suggests how this can be achieved
It can make the difference between being a worthy runner up and first prize when it comes to tendering for a major new client. The difference lies simply in one firm’s ability to realise the potential of its knowledge capital for the benefit of its client, while the other indulges itself in its past capabilities and successes. The competition may have a good track record and reference points, but the inclination is to present these achievements as medals of honour without mention of the inevitable hurdles which needed to be overcome.
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