The legal industry is in the midst of challenging and exciting times. To many firms, so much change and uncertainty may feel like a bit of a crisis, while others see it as more of an opportunity. Regardless of how you see it, it’s certainly a time of upheaval.
I have finally gotten around to reading Jim Collins’ “Good to Great” which has been lounging on my bookshelf for the better part of several years. While there are many lessons in the book that firms looking to become “great” should take to heart, there was one observation that the authors made that really struck me as relevant for firms in today’s marketplace – the Stockdale Paradox.
Collins observes that every “good to great” company they examined in the course of the book’s research had faced “significant adversity.” The difference between those companies who became great, and those companies who didn’t is what Collins refers to as the “Stockdale Paradox.”
Continue Reading Great Law Firms Will Embrace the Stockdale Paradox