Practice turnaround and the role of the Executive

In this series, we are looking at leadership in a crisis.

Practice management, how to spot an underperforming practice and how to turn things around are perennial challenges for professional and financial services firms. These problems which were exacerbated during the pandemic have been brought into sharp relief with recession looming, with practice leaders, firm managements and boards in crisis mode, with little time to focus on the day-to-day practice management.

Building High Performing Practices explores the nature of practice group underperformance and its causes. Our new report examines three key areas of focus that leaders have used to turn underperformance around and put practices onto a growth trajectory. To inform this report, we’ve interviewed 40 leaders across the professional services industry to capture the wisdom from their experiences in leading these changes.

Chapter two focuses on the role of the Executive, and their mandate in terms of driving performance. Our research highlighted three major systemic barriers to high performance that an Executive team needs to resolve.

Read chapter two here.

Author
Ori Wiener
Ori is the Chairman of PSFI. He is one of the leading international authorities in the areas of strategic business development as well as pricing, fee negotiation and profitability improvement. Ori regularly delivers international development programmes and has worked with senior and mid-level executives from over 75 professional firms including investment banking, asset management, accounting, consulting and law firms.
View Ori Wiener's profile
Author
Mike Mister

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Author
PSFI

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Author
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