New
White Paper By Bruce W. Marcus
Offered by
Bay Street Group LLC in Partnership with
The Marcus Letter
For the full 12-page white paper, click here for an instant download (PDF).
In an environment driven by four key factors – competition,
regulation, radically new technology, and shortages of talent -- and in which
the regulation of accounting and law firms is more stringent than ever before --
survival becomes increasingly difficult.
For a great many firms these are boom times. Thanks to
Sarbanes-Oxley and other such regulation, the profession is soaring. Too many
other firms, however, are drowning under the same burden.
But boom times can be dangerous times. Growth for the
successful firm can be too rapid and lead to burnout, and, as times change, to
rapid deceleration. In the less successful firms, it can mean being unable to
cope with the new regulation and its demands upon clients, and, in turn, upon
the firms. These firms are too often being swamped, struggling for survival, or
merging in shotgun weddings. Nor can many of these overburdened firms compete
well in this dynamic environment.
Moreover, when today’s success is driven by conditions in the
marketplace, then control of that success is in the arbitrary hands of outside
forces, and not in the hands of the firm itself, further endangering continued
success as the regulatory situation matures.
For the full 12-page white paper, click here for an instant download
(PDF).