New Book Review: "Managing the Professional Service Firm"

Recently posted book review for Managing the Professional Service Firm, by David H. Maister, Free Press, 1993, reposted here:

This text is a classic resource on the professional service firm, and as a consultant this reviewer appreciates the accumulated wealth of knowledge the author graciously decided to share. The content that Maister provides here is practical and very accessible, and consists mainly of articles published separately over a 10-year time period within such publications as "Sloan Management Review", the "Journal of Management Consulting", "International Accounting Bulletin", and "The American Lawyer".

While most of these articles refer to professional service firms as partnerships, the vast majority of the material is still applicable to other types of firms, including the limited liability company (LLC). And the title might suggest a management audience, but the content is important for all associated professionals, including new associates. Because this book is so well written, this reviewer also recommends a reading by those considering work in this field, either those still studying at the university or those contemplating a professional transition.

There is no other book quite like "Managing the Professional Service Firm", even though it has been over 15 years since its first appearance (1993) and a host of other texts have entered this space, especially after the late-1990s boom in consulting. The foundation of this book is the simplified mission statement that Maister indicates is the same, with varying refinements, for most professional service firms: "To deliver outstanding client service; to provide fulfilling careers and professional satisfaction for our people; and to achieve financial success so that we can reward ourselves and grow".

Probably no coverage of this book can quite deliver justice to its quality. This reviewer set out to list several of the articles which they consider to be above and beyond the rest, but it was difficult to include all but just a small minority of the chapters. The strength of the content is slightly skewed toward the first half of the book, but strong articles persist throughout the 7 sections covering basic matters such as balancing company composition and profitability, client matters such as listening and marketing to clients, people matters such as motivation and scheduling, management matters such as strategy, partnership matters such as performance and compensation, and multisite matters. Highly recommended.