Managing The Professional Service Firm

Professional service firms differ from other business enterprises in two distinct ways: first they provide highly customised services thus cannot apply many of the management principles developed for product-based industries. Second, professional services are highly personalised, involving the skills of individuals. Such firms must therefore compete not only for clients but also for talented professionals. 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. While these issues can be complex, Maister simplifies them by recognising that 'every professional service firm in the world, regardless of size, specific profession, or country of operation, has the same mission statement: outstanding service to clients, satisfying careers for its people and financial success for its owners.'

Professional service firms differ from other business enterprises in two distinct ways: first they provide highly customised services thus cannot apply many of the management principles developed for product-based industries. Second, professional services are highly personalised, involving the skills of individuals. Such firms must therefore compete not only for clients but also for talented professionals. 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. While these issues can be complex, Maister simplifies them by recognising that 'every professional service firm in the world, regardless of size, specific profession, or country of operation, has the same mission statement: outstanding service to clients, satisfying careers for its people and financial success for its owners.'

This text offers practical ideas on the managerial problems of professional service firms. It shows that professional firms are different from other business enterprises in two ways. First, they are in the business of providing highly customized services and therefore cannot apply many of the management principles developed for the mass production industrial world. Second, professional services are highly personalized and involve the skills of individuals, therefore firms must compete not only for clients, but also for talented professionals. This text explores issues ranging from marketing and business development to multinational strategies, from human resource policies to profit improvement strategies, from strategic planning to the effective behaviour of practice leaders.

This text offers practical ideas on the managerial problems of professional service firms. It shows that professional firms are different from other business enterprises in two ways. First, they are in the business of providing highly customized services and therefore cannot apply many of the management principles developed for the mass production industrial world. Second, professional services are highly personalized and involve the skills of individuals, therefore firms must compete not only for clients, but also for talented professionals. This text explores issues ranging from marketing and business development to multinational strategies, from human resource policies to profit improvement strategies, from strategic planning to the effective behaviour of practice leaders.