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The mix of each that the firm requires (i.e., its ratio of senior to junior professionals) is primarily determined by the mix of client work, and in turn crucially determines the career paths that the firm can offer.
David H. Maister • Managing The Professional Service Firm
focusing the collective efforts of the firm’s principals around carefully chosen areas of experience would…
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David H. Maister • Managing The Professional Service Firm
The market for the firm’s services will determine the fees it can command for a given project; its costs will be determined by the firm’s abilities to deliver the service with a cost-effective mix of junior, manager, and senior time. If the firm can find a way to deliver its services with a higher proportion of juniors
David H. Maister • Managing The Professional Service Firm
firms are continually confronted with a basic dilemma. On the one hand, they can choose to follow a practice area down its life cycle, adapting organization structures, staffing strategies, pricing, leadership styles, and all else we have discussed above to the new requirements of the marketplace. Of course, in so doing they will be transforming
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It’s growth, then decay, then
John Yorke • Into The Woods: How Stories Work and Why We Tell Them
If per-partner profits are to increase, then one of the two conditions must be broken. Either the firm must bring in a different mix of business commanding higher billing rates (i.e., find higher-value work for its people to do), or it must find ways to serve the same kinds of work with an ever increasing proportion of junior time, and a declining
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