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October 28, 2013
"Former titans of the world economy:" Britain, USA, Germany, France and Italy.
At October's Cross-Culture, do see "Russia’s role in the BRICS union." Richard D. Lewis notes that Britain, USA, Germany, France and Italy are no longer the main engine of global expansion. Excerpts:
The BRICS union--comprising Brazil, Russia, India and China (with South Africa tagging along)--is a powerful union, commanding half the world’s population and nearly 50% of world GDP. These figures, as seen by the West, are daunting enough, but, with further analysis, their significance increases sharply in connection with their relation to the expansion of global growth.
The year 2013 may well represent a tipping point for the global economy. For the first time since the Industrial Revolution galvanized Britain to dominate world trade in the 19th century, emerging economies will produce the majority of the world’s goods and services. The inhabitants of the rich, advanced countries are about to become less important, in terms of both production and consumerism, than the masses of people living in the planet's poor and middle class income countries.
The former titans of the world economy – Britain, USA, Germany, France, Italy – are all rapidly dropping out of the top 10 producers and consumers as far as expansion is concerned. By 2020, only the US stands a chance of qualifying. By that year, the whole of the EU may well contribute only 5-6% of global economic expansion. China and India will represent half of it.
China is, of course, a clear leader of growth, already starring for nearly 20 years with figures of 10% and more, but the other BRICS countries were not far behind and even non-BRICS states like Mexico and Indonesia made the top 10 around 1995. The fastest-growing countries in 2013 included South Sudan (31%), Libya (20.2%), Mongolia (14%), Paraguay (11%), Panama (9%) and Mozambique (8.4%).
Posted by JD Hull at 11:33 PM | Comments (0)
Cross-Selling: You Folks Really Partners? Or Just Sharing Space?
Few law firms cross-sell partners effectively. Lots don't even try.
And then there's this problem: most law firms of any size, depth or sophistication have been reduced to an aggregation of several (or many) smaller fiefdoms or, if you will, "collection of boutiques". Each individual boutique-fiefdom is disturbingly insular, with little overlap on anything--including issue-spotting for either client work or marketing operations.
In these firms, partners are "friends" (with fiduciary duties to one another) and space-sharers--but not true partners in an entrepreneurial sense. Such firms have a built-in prejudice against growth by cross-selling. They are territorial--and often even wary of each other. But they generally do have a few highly frustrated principals or leaders who recognize the problem. That's a start.
Listen up, folks:
1. We can't imagine anything in law firm management more difficult than getting partners to discipline themselves on a long term basis--i.e., institute it as a "habit" that drives everyone all the time--to cross-sell each other.
2. We can't imagine anything more personally or financially rewarding when it works.
Posted by JD Hull at 12:00 AM | Comments (0)