Managing Partners and a Curious Lady

Rubric: Uncategorized

Recently I’ve started to persecute managing partners with a curious questions ☺

— «Tell me, please, Dear Managing Partner, what is in your agenda? What you focus on in your activities? How you priorities your MP’s duties and share workload among your partners? How much time does every task take?» And I’ve got such different and interesting answers! It’s amazing how serious and useful this improvised research turns out!

Firstly, MP’s agenda doesn’t depend on a jurisdiction – no matter which way you look at it, it doesn’t!

Secondly, there is difference in agendas of female and male managing partners (I had perception man and women manage differently their businesses ☺).

Thirdly, young partnerships are heavily focused on their teams. Their priority is congenial positive atmosphere in their groups through internal communication. An important thing for them is building firm’s business processes.

The same issues are in agendas of partnerships with up to 3 partners in them.

And fourthly (sorry for being here Captain Obvious), the size matters!

Regardless of the age, MP’s agenda of larger partnerships (3+ partners) includes the task of managing the partnership itself. This task has the highest priority and takes more time than all mentioned above.

It also brings on the table the issue of responsibility sharing in the multilayered and multipractice firms, i.e. practice management issues and their development along with a responsibility for are shifted to practice leaders.

Fifthly, managing partners don’t stop working with their hands. Time spend on this kind of activity fluctuates around 40-50%, less often – lower, very rarely – less than 20%. And a level of managing partner’s involvement in service delivery is mostly determined not really by necessity, but partner’s fear to lose their professional status among their colleagues.

To make the long story short, contemporary MP’s agenda includes:

  1. Strategic issues of business development.
  2. Coordination and integration of partners and project teams.
  3. Quality control and clients’ expectations management.
  4. Operational management.
  5. Professional activity.

There is all news for today! As for me, I keep on questioning… Be ready – you are the next one ☺