Entrepreneurial Strategies Of Professional Service Firms

Author : Andreas B. Günther
Publisher : Springer
Page : 310 pages
File Size : 50,7 Mb
Release : 2019-02-19
Category : Business & Economics
ISBN : 9783658240912

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Entrepreneurial Strategies of Professional Service Firms by Andreas B. Günther Pdf

Over the past years, knowledge-intensive industries have gained significant importance as economic factor, giving rise to professional service firms (PSFs) such as law firms, accounting firms, or consultancies. Following this development, the research interest especially in the strategies pursued by PSFs has grown substantially. However, past research focused mainly on strategies of established, mature PSFs, leaving academics as well as potential entrepreneurs without guidance on what newly founded, entrepreneurial PSFs should pay attention to in order to ensure lasting competitive advantages. Based on an explorative grounded theory analysis of two outstanding commercial law firm spin-offs in Germany, this work advances the research in this field. In addition to a detailed case study report, it offers a comprehensive theoretical framework and argues that PSFs have to employ a set of seven specific entrepreneurial strategies – including for example service delivery, people development, and client acquisition strategies – in order to successfully manage the entrepreneurial phase. In providing examples for the growing PSF industry, the findings on commercial law firm spin-offs also inform entrepreneurship research in other professions

Author : Laura Empson,Daniel Muzio,Joseph Broschak,Bob Hinings
Publisher : OUP Oxford
Page : 752 pages
File Size : 45,8 Mb
Release : 2015-08-13
Category : Business & Economics
ISBN : 9780191504938

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The Oxford Handbook of Professional Service Firms by Laura Empson,Daniel Muzio,Joseph Broschak,Bob Hinings Pdf

Over the past three decades the Professional Service Firm (PSF) sector has emerged as one of the most rapidly growing, profitable, and significant in the global economy. In 2013 the accountancy, management consulting, legal, and architectural sectors alone generated revenues of US$ 1.6 trillion and employed 14 million people. PSFs play an important role in developing human capital, creating innovative business services, reshaping government institutions, establishing and interpreting the rules of financial markets, and setting legal, accounting and other professional standards. The study of PSFs can offer insights into the contemporary challenges facing organizations within the knowledge economy, and deepen understanding of more conventional organizations. Despite their significance, however, PSFs have until recently remained very much in the shadows of organizational and management research. The Oxford Handbook of Professional Service Firms marks the coming of age of PSF scholarship with a comprehensive and integrative exploration of current research and thinking on PSFs, featuring contributions from internationally renowned scholars in the fields of organizational and management studies. It is divided into three distinct sections - the professions, the firms, and the professionals that work within them - and covers subjects from governance and leadership to regulation, entrepreneurship, and diversity. Bringing together a broad range of empirical and theoretical perspectives, the Handbook offers many potentially important insights into the contemporary challenges of organizations in the knowledge economy and suggests new lines of inquiry that may shed further light on the activities and performance of PSFs and the professionals who work within them.

Author : Markus Reihlen,Andreas Werr
Publisher : Edward Elgar Publishing
Page : 425 pages
File Size : 41,5 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9781781009109

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Handbook of Research on Entrepreneurship in Professional Services by Markus Reihlen,Andreas Werr Pdf

ÔProfessional service firms are critical agents of contemporary economies and understanding them has become a central focus of recent scholarship. This very timely and well organized Handbook brings together several leading scholars who explore how we might think and theorize about professional service firms and their entrepreneurial behaviours. The Handbook will become a key source for the growing community of researchers in this area.Õ Ð Royston Greenwood, University of Alberta, Canada ÔFor too long, both researchers and practitioners have presumed that professional service firms follow the status quo when they should better understand how these professionals set the rules for globalization. This Handbook reminds us that professionals are as much the shock-troops of capitalism as the multinational corporations that they serve. As this Handbook shows, the leading firms successfully compete with each other by fostering entrepreneurship and innovation in order to service an institutional system that undergirds the international economy.Õ Ð Christopher McKenna, University of Oxford, UK Professional services are increasingly seen as an important foundation for future economic growth and prosperity. Yet research on innovative and entrepreneurial processes in professional services has been surprisingly scarce. This Handbook provides a collection of original contributions from leading scholars outlining the current stock of knowledge in the area as well as providing directions for further research. The expert contributors discuss entrepreneurship and innovation from a number of different perspectives, including the entrepreneurial professional team, the entrepreneurial firm and the institutional environment. The first part of the book looks at the challenges of entrepreneurship specific to the professional service firm while the second explores the creation and exploitation of entrepreneurial opportunities in the professional service team. Part III turns to the organization and Part IV to the management and growth of the entrepreneurial professional service firm. The final part discusses the interplay between professions, firms and the institutional environment. Researchers, scholars and PhD students in the areas of entrepreneurship and professional service firms along with advanced students of management will find this volume of great value.

Author : Mike Saks,Daniel Muzio
Publisher : Routledge
Page : 202 pages
File Size : 52,7 Mb
Release : 2018-03-05
Category : Business & Economics
ISBN : 9781317197881

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Professions and Professional Service Firms by Mike Saks,Daniel Muzio Pdf

Professions are increasingly linked with enterprise at a number of interrelated levels. By considering the relationship of professions to the enterprise contexts in which they work, this book reveals the dilemmas posed to professional groups, and the opportunities and constraints that can arise in their organisational frameworks. Addressing both private and public sectors, this collection explores questions including: what are the implications for the culture, practices and identities of professions of working in enterprise contexts, including with increased globalisation? Are professions becoming more entrepreneurial in a knowledge economy? What are the tensions between professionalism and enterprise and how are these resolved? These are themes that are extremely important to professionals and their managers, especially with the rise of large-scale professional service firms serving corporate clients with truly global reach. This cutting-edge collection will be of interest to researchers, educators and advanced students studying professional behaviour in fields such as business studies, management, organisational analysis, public administration, political science, social policy and sociology, as well as students on focused programmes of professional study in fields such as health, law and social care.

Author : Mike Schultz,John E. Doerr,Lee Frederiksen
Publisher : John Wiley & Sons
Page : 373 pages
File Size : 51,7 Mb
Release : 2013-05-15
Category : Business & Economics
ISBN : 9781118688434

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Professional Services Marketing by Mike Schultz,John E. Doerr,Lee Frederiksen Pdf

A proven approach to revenue-generating marketing and client development Professional Services Marketing is a fully field-tested and research-based approach to marketing and client development for professional services firms. The book, now in its Second Edition, covers five key areas that are critical for firms that want to grow and become more profitable: creating a marketing and growth strategy; establishing a brand and reputation; implementing a marketing communications program; executing lead generation strategies; and developing business by winning new clients. You will also read real-world case studies that illustrate major points, as well as quotes and stories from well-respected professionals in the industry. The Second Edition features new research and updates throughout, including new chapters on social media and online marketing, as well as new case studies and interviews Authors Mike Schultz and John E. Doerr are the coauthors of the Wall Street Journal and Inc. Magazine bestseller Rainmaking Conversations and Professional Services Marketing; Lee W. Frederiksen is coauthor of Online Marketing for Professional Services Will be widely promoted via multiple online routes and direct mail marketing Firms of any size can use this proven approach to marketing and client development to attract new clients and grow their professional service businesses.

Author : David H. Maister
Publisher : Simon and Schuster
Page : 536 pages
File Size : 48,9 Mb
Release : 2012-12-11
Category : Business & Economics
ISBN : 9781471109652

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Managing The Professional Service Firm by David H. Maister Pdf

Professional service firms differ from other business enterprises in two distinct ways: first they provide highly customised services thus cannot apply many of the management principles developed for product-based industries. Second, professional services are highly personalised, involving the skills of individuals. Such firms must therefore compete not only for clients but also for talented professionals. Drawing on more than ten years of research and consulting to these unique and creative companies, David Maister explores issues ranging from marketing and business development to multinational strategies, human resources policies to profit improvement, strategic planning to effective leadership. While these issues can be complex, Maister simplifies them by recognising that 'every professional service firm in the world, regardless of size, specific profession, or country of operation, has the same mission statement: outstanding service to clients, satisfying careers for its people and financial success for its owners.'

Author : Bente Løwendahl
Publisher : Copenhagen Business School Press DK
Page : 232 pages
File Size : 40,9 Mb
Release : 2005
Category : Business & Economics
ISBN : 8763001276

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Strategic Management of Professional Service Firms by Bente Løwendahl Pdf

Aimed at practitioners and academics, this third edition discusses various issues such as to what extent are professional service firms (PSFs) different, when is a service (not) professional, what are particular challenges in managing PSFs, what are important strategic issues for PSFs and more.

Author : Royston Greenwood,Roy Suddaby
Publisher : JAI Press Incorporated
Page : 456 pages
File Size : 52,9 Mb
Release : 2006-04-19
Category : Business & Economics
ISBN : STANFORD:36105126934996

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Professional Service Firms by Royston Greenwood,Roy Suddaby Pdf

Explores the unusual challenges that confront some organizations and their organizational and governmental responses.

Author : Troy Waugh
Publisher : John Wiley & Sons
Page : 0 pages
File Size : 50,6 Mb
Release : 2015-08-31
Category : Business & Economics
ISBN : 1119090377

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101 Marketing Strategies for Accounting, Law, Consulting, and Professional Services Firms by Troy Waugh Pdf

"Troy Waugh—'the rainmakers' rainmaker'—has provided a well-designed blueprint for selling professional services that skillfully draws upon his more than thirty years in the field. This practical, highly focused guide to the selling process can help our firms achieve sales successes measured not only by effort but also by bottom-line results." —Howard B. Allenberg, vice chairman and CIO, BDO Seidman, LLP Finally, peerless focus on how to break into all aspects of the selling process and the currents of relationship and buyer development. Learn how to build your personal and firm business more successfully. Covers the process of relationship and buyer development. Provides proven strategies from hundreds of the world's successful firms. Order your copy today!

Author : Michael W. McLaughlin
Publisher : John Wiley & Sons
Page : 225 pages
File Size : 52,7 Mb
Release : 2009-08-06
Category : Business & Economics
ISBN : 9780470522011

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Winning the Professional Services Sale by Michael W. McLaughlin Pdf

An innovative approach to winning more profitable sales in the growing professional services industry In recent years, professional services providers have had to rethink their sales methods and adapt to profound changes in the way clients buy services. In response, Winning the Professional Services Sale argues for fundamental changes in the seller's mindset and sales strategies. Rather than pressing the sale, salespeople must help clients buy--the way that works best for each client. This new approach gives buyers what they now want in a services seller: a consultative problem solver, change agent, and solution integrator, all rolled into one. Author Michael McLaughlin presents a strategy for winning new business with a holistic approach to each client relationship. Only by fully understanding a sale from every angle, including its impact on the client's business and career, can salespeople thrive in the new era of the service economy.

Author : Maureen Broderick
Publisher : Prentice Hall
Page : 320 pages
File Size : 44,7 Mb
Release : 2010-10-24
Category : Business & Economics
ISBN : 9780132101813

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The Art of Managing Professional Services by Maureen Broderick Pdf

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.

Author : L. Martin van der Mandele,Henk W. Volberda,Rob B. Wagenaar
Publisher : Springer Nature
Page : 181 pages
File Size : 42,5 Mb
Release : 2022-10-27
Category : Business & Economics
ISBN : 9783031061349

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The New Professional Service Firm by L. Martin van der Mandele,Henk W. Volberda,Rob B. Wagenaar Pdf

The authors of this book alert that professional services like law, accountancy, and consultancy firms are set to face major disruption. The most important driver and enabler are the new technologies that help and in part substitute the work done by professionals. The second important disruptor is the new generation of professionals – “NewGen” – who are less interested in building their careers in a hierarchical organization and more interested in entrepreneurial challenges in small teams, with more rapid returns. In the meanwhile, major service conglomerates – the “big four” accounting firms, the “big three” consulting firms to name a few examples – build their network using their brand and substantial resources. All along, the relentless pressure from clients to receive more services at lower cost continues. Medium-sized professional firms as well as one-person independents appear to suffer most from these disruptions and are most anxious to find new ways to conduct their business. But the leaders of large firms also feel that they are increasingly unable to support the innovative entrepreneurship of their most promising professionals while their organizations institutionalize and their overheads continue to grow. This book proposes a new orientation and model of a professional service firm as an answer to these challenges, by creating a Professional Service Community. It is a synergistic team of organizations that share a vision of their role in society and main lines of their mission as well as the quality of their deliverables and their key clients. At the same time, they are independent in designing their internal business models – like recruitment, training, knowledge management, and economics. The Professional Service Community provides a unique and highly attractive level of entrepreneurship, flexibility, and efficiency to the benefit of its clients, partners, staff, and other stakeholders. It is the way of the future.

Author : William Winston,Frederick G Crane
Publisher : Routledge
Page : 146 pages
File Size : 53,9 Mb
Release : 2013-10-18
Category : Business & Economics
ISBN : 9781317953166

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Professional Services Marketing by William Winston,Frederick G Crane Pdf

The days of professionals simply hanging a shingle and waiting for clients to beat a path to the door are long gone. The marketplace is crowded with new service professionals of all types--from CPAs and attorneys to health care providers and competing service organizations. Professionals must realize that their services, no matter how good they are, simply will not sell themselves. Services marketing is the key to the game and here is the most concise, easy-to-understand, jam-packed source of services marketing. Professional Services Marketing provides a very readable and simple introduction to the marketing process for the professional service environment. It gives professionals an inexpensive way to successfully develop a strong client base and grow in a competitive marketplace. Using a step-by-step approach, this new book provides both strategic and tactical guidance for both the new and seasoned marketing careerist. Distinguished expert and international authority Fred Crane offers a realistic overview of the marketing process and discusses the characteristics and difficulties involved in marketing and managing professional services. He provides solutions to those challenges starting with a marketing plan, moving through client management, and the marketing audit. Professional Services Marketing discusses management principles and examines implications for site analysis, physical analysis and facility design. It explores the true meaning of communication in the professional service arena and what this means for the bottom line. A plus for professionals new to the marketing field, this practical book gives examples of professional services marketing ideas that have been put into practice successfully. Professional Services Marketing can be read in a single afternoon yet retains an encyclopedic breadth of vision and covers every major issue in the field. Specialists have already praised the work as essential and unique in the literature. It deserves consideration not only as a guide for established professionals but also as a basic text for future professionals as they prepare for their fields. Truly a practical guidebook for any professional, Professional Services Marketing shows you: a “cookbook” approach to designing a marketing plan that is easily followed how to take advantage of impression management and what it really means when to apply professional services marketing ideas that can be put to work almost immediately when to undertake internal marketing where to apply relationship marketing how to apply synchromarketing All professionals, from architects to veterinarians, will find valuable tips on marketing in this new book. Members in professional associations involved in training and professional development will also find helpful strategies for expanding their marketing capabilities, as will those teaching services and professional services courses in colleges and universities.

Author : Bente Løwendahl
Publisher : Unknown
Page : 191 pages
File Size : 52,6 Mb
Release : 2000-01
Category : Professional corporations
ISBN : 8763000490

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Strategic Management of Professional Service Firms by Bente Løwendahl Pdf

Author : Stephan Kaiser,Max Josef Ringlstetter
Publisher : Springer
Page : 208 pages
File Size : 42,8 Mb
Release : 2010-12-02
Category : Business & Economics
ISBN : 364216062X

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Strategic Management of Professional Service Firms by Stephan Kaiser,Max Josef Ringlstetter Pdf

Managing strategies for professional service firms is an important and complex activity. The main issues in this book cover the core management principles for service firms in a comprehensive way. Based on current research findings it includes the management of service quality, knowledge and marketing as well as people, organizational and strategic issues. In understanding critical resources managers and partners will be able to effectively develop and exploit them. The book contains practical advice and offers a profound insight into the managerial excellence of service companies.