How can managing partners adapt to the current business environment?

In a recent Canadian Bar Association National Magazine blog article, practice innovation partner Paul Saunders was quoted on the issue of billable hours versus fixed fees in today’s legal landscape. “Clients increasingly seek non-hourly billing arrangements like fixed fees and other alternative pricing structures … in the past client buying decisions were primarily based on the relationships between clients and the partners of law firms,” said Paul. He notes that managing partners should become more familiar with this, and other similar areas involving change management, as it will help them evolve to meet new client requests and industry standards.