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Business strategies and the small professional firm: Evidence from the conveyancing market
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Love, James H., Stephen, Frank H. and Paterson, Alan A. (1995) Business strategies and the small professional firm: Evidence from the conveyancing market. Small Business Economics, Volume 7 (Number 6). pp. 457-468. doi:10.1007/BF01112466 ISSN 0921-898X.
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Official URL: http://dx.doi.org/10.1007/BF01112466
Abstract
This paper examines the use of business strategies by firms of solicitors in England. Although still often seen as the epitome of the traditional profession, recent deregulation and liberalisation of the legal services market has forced solicitors to consider the use of more business-like approaches to the operations of their firms. Using the framework provided by John Kay, it is possible to identify ‘distinctive capabilities’ among some firms in the provision of conveyancing, despite the fact that this is a relatively routine service provided mainly by small professional firms. The use of reputation is crucial here. Analysis of the conduct of sample firms suggests that business strategies can be identified with respect to pricing and advertising, and that the advertising behaviour of law firms closely matches the predictions of relevant economic theory. The paper concludes that it is meaningful to speak of strategy among at least some small professional firms.
| Item Type: | Journal Article | ||||
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| Divisions: | Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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| Journal or Publication Title: | Small Business Economics | ||||
| Publisher: | Springer New York LLC | ||||
| ISSN: | 0921-898X | ||||
| Official Date: | 1 December 1995 | ||||
| Dates: |
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| Volume: | Volume 7 | ||||
| Number: | Number 6 | ||||
| Page Range: | pp. 457-468 | ||||
| DOI: | 10.1007/BF01112466 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Restricted or Subscription Access |
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