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Written by Norman Clark
Published: 17 April 2014
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An important article published recently by the Wharton School, University of Pennsylvania, reminds us that resilience has become a critical strategic asset, which enables businesses to respond successfully to rapid changes in their markets. In Process Resilience Is Becoming a Business Imperativeexperts from the University of Pennsylvania, University of Florida, and Wipro Ltd. discuss how In an increasingly networked world, organizations need to move beyond the kind of corporate disaster-recovery efforts that followed the earthquake, tsunami, and nuclear incidents in Japan in 2011. To remain competitive, organizations also must become resilient to internal as well as external disruptions. Process resilience, in particular, is very important for industries which are either highly regulated, Internet facing, or serve end-user customers.

All three of these indicators describe law firms in the 21st century.

How resilient is your law firm?

The experience and observations of Walker Clark LLC, while advising law firms of all sizes worldwide, strongly suggest that:

For example, as part of the Walker Clark Comprehensive Managment Systems Review, we not only help law firms to evaluate their existing management structures, policies, and processes, but also to test their internal resilience to change. Our risk management services to law firms also strongly emphasize the importance of strategic anticipation and contingency planning.

Being prepared to meet today's business and professional challenges is hard enough, but it is not enough. Past success can be a good resource, but it guarantees nothing for the future. It is your firm's internal resilience that will be a key factor in determining your long-term success and sustainable profitability in business environments that are typified by ever-accelerating change.

Norman Clark