In the knowledge-driven legal services market, knowledge management (KM) is a key business driver, potentially delivering great value to a law firm. KM should be a key strategy of any law firm. A recent study of how leading US, UK and Australian law firms approach KM by Curve Consulting found that even among law firms that have invested heavily in KM, many have not taken a strategic business-oriented approach to it and are consequently not realising its potential.
The Curve Consulting 2001-02 Global Law Firm KM Survey Report found that there are three key areas that suggest a lack of business focus – the narrow scope of knowledge and KM initiatives; inappropriate positioning of the KM organisation in the law firm; and little application of business rigour to the implementation of KM principles and initiatives.
