'Wasteful' ambitions.UK and US firms have been accused of 'wasting money' on global expansion by a top independent law firm consultant.Speaking at a roundtable held by Nottingham Law School in London last week, Stephen Mayson, who also lectures at Nottingham, accused Anglo-Saxon firms of 'cultural imperialism' and suggested many firms are embarking on foreign expansion strategies for the wrong reasons.
He said the motivation is often 'too defensive', for example because firms' own market is saturated, or for competitive reasons.
But the worst reason, he said, is simply following other firms into a jurisdiction: 'That idea of miming others is probably the worst of all global expansion.
You don't need to do it.
Unfortunately, a lot of law firms, English and American, have fallen for it and have wasted an awful lot of money.' He advised law firms to be more sensitive to market conditions and local language and culture: 'We need to encourage lawyers to think about this cultural difference.
But the real issue is what can be devolved across the board and at the same time make money.'He recommended that law firms decentralise to manage foreign offices effectively and integrate them into a global brand.
'Imperialism will kill them,' he warned.Anne Mizzi
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