Author(s): Ashish Nanda
Product Number: HLS 08-06
Publication Date: August 29, 2007
Length: 14 pgs
Cost per Copy: $10.00

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Abstract
This note discusses the importance of having a clear and consistent strategy in a professional service firm (PSF) and how implementing strategy is different in PSFs compared to commercial and industrial organizations. The note discusses how practice strategy involves positioning the practice on a spectrum of services and aligning the organization and its professionals to the position. However, practices are continuously subjected to forces that change their positioning. To be successful, practices must dynamically reposition or realign themselves. The note concludes with a discussion of the corporate strategy challenges facing multipractice professional service firms.

Learning Objective
The note provides a conceptual foundation to enrich classroom discussion of professional service firm strategy and positioning.

Subjects Covered
Business Policy
Leadership
Strategy Implementation
Strategy Formulation

Setting
Professional Services