The firmwide leader’s group of the Managing Partners’ Forum meets on a monthly basis to explore key topics in a moderated roundtable setting. The same 20 or so CEOs meet regularly, so have formed a peer group which results in very open discussions.
Andrew presented the value of having a digital ambassador on your Board.
To see other keynotes and companies Andrew has presented to in the legal industry, please visit the legal keynotes page.
If strategy is the main focus of most Boards, technology is the key area for investment. 92% of professional firms are looking to increase their expenditure on technology in 2018 compared with 82% in 2017. Yet, despite firmwide leaders feeling very uncomfortable when signing off the technology budget, given its size and their lack of familiarity, almost no firms have appointed a digital ambassador to their Board.
Even when appointed, the extent to which a digital ambassador can make a difference is limited by: their ability to shimmy through the organisation; the constraints on the firmwide leader; the extent to which there is business expertise at the firm; and the extent to which the need for change is recognised and embraced.
The fundamental question is whether a Board is capable of taking and acting on advice. Currently, many appear incapable due to: simply not being professional in how they run themselves as businesses; or the firmwide leader enjoying influence but not power, and expected to change the way partners operate whilst retaining their vote.
Our presenter believes that appointing digital ambassadors is a catalyst for a more effective Board.
More information is available on the MPF website.
Andrew is a regular contributor to MPF events and also presents to Managing Partners at industry events.