Two aspects of professional work create the special management challenges of the professional service firm. First, professional services involve a high degree. Managing The Professional Service Firm by David H. Maister – International expert and consultant David Maister offers a brilliant and accessible guide to every. Managing The Professional Service Firm has ratings and 48 reviews. Pavel said: Очень толковая книга. Будет полезно прочитать и тем, кто не работает .
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Written 20 years ago but still applicable to any professional services firm. Middle-level staff may, if allowed, hang on for another year or two, but most eventually leave if not promoted.
Despite the date it was written, this book remains very relevant today. The mix of each that the firm requires i. Mar 27, Mark rated it liked it Shelves: Aug 15, Deniss Ojastu rated it it was amazing Shelves: Refresh and try again.
Managing The Professional Service Firm – David H. Maister – Google Books
Each chapter provides a solid introduction into the most important aspects of firm management, from practice-building to compensation to how to lead other professionals. Second, professional services are highly personalised, involving the skills The middle of the book is about marketing, where it encourages marketing to current clients, on top of non-clients, and it displays different marketing options.
The dangers of failing to monitor the project team structure are thus clearly revealed. So happy to be done with this book! Books by David H. The early years of an individual’s association with a professional service firm are, indeed, usually viewed as an apprenticeship, and the relation between juniors and seniors the same: Maister devotes a number of chapters to the care, feeding, and growth of a consulting firm, describing the seemingly difficult trade-offs to be made between the majaging term health and growth of skills, people, market offer versus near term sales and revenue.
Many factors play a role in bringing these goals into harmony, but one has a preeminent position: It is an excelent book, and servkce reading it, you don’t need much more davi that to understand this profesaional of industry.
Partners or shareholders can routinely earn a surplus value from the juniors without having to “repay” them in the form of promotion. An equivalent way of stating the relationship would be to observe that if given a growth rate and a leverage structure, the promotion incentives that result can be specified. Such firms must therefore compete not only for clients but also for talented professionals.
Managing the Professional Service Firm
Quotes from Managing The Prof For example, I liked professlonal explanation of the Dupont formula and how to apply it to a services firm. Making the Network Work. Examples of favid in this regard abound in many professions. Like the “passed over” middle-level staff person, the fifth junior may reasonably be assumed to leave the firm.
The relationship between a firm’s leverage structure and its three goals is illustrated in Figurewhich shows the principal forces tying these elements together.
Even though such projects may involve significant data collection and analysis activities normally performed by juniorseven these activities cannot be clearly specified in advance and require the active involvement of at least middle-level project management professionals on a continuous basis.
He compares the use of by-the-numbers evaluation metrics and more subjective judgement, the latter more helpful when measuring contribution to longer term objectives. These are the professsional that lead exciting projects, bring in work to the firm, and command high bill rates. The existence of a “risk of not making it” also serves the firm in that it constitutes a degree of pressure on junior personnel to work hard and succeed.
Review of Managing the Professional Services Firm by David Maister
In effect, they are saying, “Hire us because we have been through this before; we have practice at solving this type of problem. We may see this by examining Table once more. As Figure suggests, the short-run consequence will be that higher proessional people will end up performing lower-value tasks probably at lower feesand there will be an underutilization of senior personnel.
The role of leverage is amply illustrated by Guru Associates. The sections cover consulting firm basics, client matters, employee matters, partnership matters, multi-site issues, and asset management. He also recommends per-project profit measuring. My library Help Advanced Book Search. What we have discovered by performing these calculations is managlng the interaction of these two forces determines a target or required growth rate for the firm. It should be immediately stressed that high leverage is not always good.
For all these reasons, we might suspect that, over time, the proportion of juniors to seniors required by aervice firm in a particular practice area will tend to increase. 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.
How to create strategy for a professional service firm? While good initial recruiting procedures may serve to reduce the degree of screening required through the promotion process, it can rarely eliminate the need for the promotion process to serve this important function.
The best way to read this book is to select one topic of your interest f. It is a deep work, very clearly written and useful to read.
The three levels are traditionally referred to as “the finders, “the minders,” profesional “the grinders” of the business. This implies six projects, if the typical project requires 50 percent of a senior’s time. This promotion system serves an managkng screening function for the firm.
We are professinal here the turnover that the firm requires to keep itself in balance. Of the twenty in the firm, we assume one quarter five will be in their final year as juniors. 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.
It is inherently uncomfortable experience — and it is important to be emphatic towards your potential clients.