Strategic Management of Professional Service Firms

Professional service firms play an increasingly important role in the value creation of today's business as well as public sector organizations. The number of firms is increasing rapidly, and their growth in terms of number of professionals employed is amazing. Strategic management is crucial for the successful development of such firms, but requires a different frame of mind from that of the industrial corporation. This book describes in detail the driving forces behind the challenges involved in the strategic management of a professional service firm. Based on in-depth studies of firms in multiple industries, the book presents a number of examples as well as a framework for the development of professional service firm strategies. The book is written with two audiences in mind: the practicing manager of a professional service firm, and the student of strategy and knowledge based services. With its strong empirical research foundation, however, the book should also be of interest to researchers focussing on managerial issues related to service sector organizations. Bente R. Lowendahl is Associate Professor of Strategic Management at the Norwegian School of Management.