COMPETITIVE DIAGNOSTICS OF A LAW FIRM: THE WORLD EXPERIENCE AND ITS IMPLEMENTATION IN UKRAINE
Journal Title: Економічна теорія та право - Year 2016, Vol 1, Issue 24
Abstract
Problem setting. A modern law firm (LF) always competes with other participators of a legal services market and requires knowledge of methods and procedures of competitive diagnostics on the part of each partner and lawyer. Recent research and publication analysis. In Ukraine, issues of competitiveness of firms are examined by Z. M. Borysenko, I. Z. Dolzhanskyi, M. О. Kyzym, and S. M. Klymenko. However, there is lack of papers dedicated to methods of evaluation of law firm competitiveness. Paper objective. The article objective is to analyze the sense, the main forms, and methods of competitive diagnostics and to determine a competitiveness rate of a law firm. Paper main body. In the wide sense, law firm competitive diagnostics is referred to as economic evaluation of the firm economic activity under conditions of increasing competition. In the narrow sense, the diagnostics is the practical activity related to determination of a competitiveness rate of each business entity, systematic collection and processing information about a business on the whole, evaluation of the current state of a firm and its rivals; prevention of threats for competition; development of measures aimed at decrease of negative consequences of competition, and application of a competitive mechanism for further development of a firm. The main objects of the law firm competitive diagnostics are as follows: competition in the legal services business, its types, methods, and a mechanism; competitive advantages of law firms and their sources; law firm competitiveness in a target market. It is expedient to apply all known forms of organizing competitive diagnostics, i.e. analytical, expert, and imitational ones, in the legal services business. Express diagnostics and complex competitive diagnostics of a law firm are also important. The author considers the main methodical approaches to determination of a competitive rate of a LF: application of special analytical products and databases; analysis of figures of the economic activity, using due diligence instruments; positioning of a LF in international rankings (Chambers Global, The Legal 500, Best Lawyers International, Who is Who Legal, etc.) and national rankings («50 leading law firms of Ukraine»); determination of individual competitiveness of lawyers. Conclusion of the research. The main purpose of carrying out the competitive diagnostics consists in substantiation of competitive advantages and competitiveness of the firm and development of an effective competitive strategy.
Authors and Affiliations
Людмила Степанівна Шевченко
Keywords
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