Baker & McKenzie‘s global revenue hit $1.829bn (£910m) in the 2007 financial year following a rise of 20 per cent (see story). It’s pretty impressive stuff, particularly as it means the firm has already reached the figure it had targeted for 2008.
That’s great news for the firm on the one hand, but on the other it means it has to bring its strategic review forward by a year.
Three years ago the firm upped its focus on five key areas, with client relationships, core practices, key markets, profitability and managing talent at the fore. Hardly rocket science but now the executive committee is set to put its heads togather for the tricky task of thinking up a whole new set of fresh and exciting new targets and a way of achieving them.
It sounds like high-level stuff – rumour has it there may even be some blue-sky thinking involved – but one partner whispered that the firm will simply follow the same strategy at a more “ambitious level”. Genius.