If we categorize all of our business conversations into the above four buckets, which bucket is the fullest?
Unfortunately, I vote for bucket 4. We end up in bucket 4 because we want to be perceived as being fully informed. Yet, being fully informed takes a lot of solitary, uncompensated effort with no certain prospect
Many lawyers are daunted by the prospect of data, process, and technology. Yet, retooling might not be that hard.
Below is a list of knowledge, skills, and technologies learned this summer by three of my 1L Indiana Law students. The catalyst was a 3½-week program at the University of Colorado Law School in May combined
The graphic above reflects three different types of innovation “outcomes”:
The graphic above, adapted from Rogers, Diffusion of Innovations (5th ed. 2013), shows the distribution of innovativeness among 324 German banks. The innovativeness scale is a count of innovation adoptions from a universe of 12 interactive telecom innovations that were diffusing through the German banking sector during the early 1990s. To help distinguish the early
Every legal innovator, early adopter and change agent shares a common, unifying desire: To speed up the pace of innovation within their organization.
This statement is true whether the context is a law firm, legal department, government agency, bar association, or law school. Over the years, I have commiserated with them all. Although they
The global law firm Gowling WLG has just launched a platform that automates document production for a private placement offering. The video above does a remarkably good job of explaining how the product (called Smart Raise) works. Far from scary and technical, the innovation comes across as simple and inviting. Quite an accomplishment in
As a law professor, I worry about my students’ job prospects. One way to manage this worry is to study clients and to work backwards from their needs. Opportunities tend to find lawyers who follow this discipline.
Yet, making generalizations on law clients in the year 2017 is surprisingly difficult. This point was recently driven
Glass Half Full: The Decline and Rebirth of the Legal ProfessionThe laws of supply and demand have finally caught up with the modern U.S. legal profession,
Are rapidly adopted innovations more valuable and important than innovations that take a long time to take hold? Not necessarily.
Post 011 is part of LE’s foundational series on diffusion theory. Here’s the key point: Speed of adoption is not a reliable guide for an innovation’s importance. In fact, competitive advantage is much more likely to lie among slower ideas where innovators focus on several key factors to accelerate the rate of adoption.
It is difficult to accept an insight this counterintuitive. Thus, we need an illustration.
Continue Reading Fast versus Slow Innovations (011)
Below are two beliefs I carried with me for many years.
Belief 1 still stands. But belief 2, which I viewed as a corollary of 1, recently fell like