Managing Risk and Maximizing ROI

Bio: tiny.cc Steve Kortanek is a business bankruptcy lawyer who has practiced in Wilmington for over 19 years. He concentrates his practice in the areas of business restructuring and bankruptcy, as well as bankruptcy litigation. His clients include chapter 11 debtors, senior management, official committees, secured lenders, trade creditors, landlords, asset purchasers, estate representatives, and major creditor and equity holder constituencies. Mr. Kortanek's industry and issue experience in the bankruptcy context covers a wide array including retail, manufacturing, telecommunications and internet businesses, general contracting, health care, horticulture, transportation, life science and other intellectual property matters, by way of example. His active bankruptcy litigation practice includes complex valuation litigation and claim litigation, as well as significant experience in preference and avoidance litigation, in several cases managing a large number of adversary proceedings through trial and appeals. Mr. Kortanek serves on the panel of Mediators by appointment of the Delaware Bankruptcy Court and has successfully mediated numerous matters. He is actively involved in the Delaware bankruptcy bar, including several years of service on the Standing Local Rules Committee and membership in The Delaware Bankruptcy American Inn of Court. Mr. Kortanek also lectures and writes on bankruptcy topics to a wide audience of other restructuring professionals.



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Lawyers Leading and Managing Change

Traditionally law firms have relied on a command and control structures, leadership style - great in times of crisis, not so great when you're self-motivated, decisive people who are willing to take responsibility for their actions.

In my experience the legal profession seems to lag behind when it comes to planning for change. Take the recent wave of layoffs, a significant number of companies. The redundancy problem has once again exposed somelawyer / Manager seeming inabilityto deal with difficult situations in acompassionate and sympathetic manner. This is lacking in interpersonal skills have their weakness is exposed (see again) for all. As important as the correct procedure looks for the welfare of individuals affected by the change.

The big question is how to motivate lawyers in the future. Motivation of the "redundancy survivors", which is not lucky enough to retain their jobs, be easy.

The often hung carrot ofPartnership is to appear a less attractive option. Companies that cut to the bone and thrown overboard no "slack" can findthat there is a serious threat to their business during holidays, sickness and layoffs find. Customers will also be sensitive to the change of personnel, with their work. Customers are increasingly looking for value for money and demand a higher level of customer service, they will not be thrilled if the level of service drops, while the new person up toSpeed on the file. (A word to the wise - either they will be thrilled when they pay for the privilege!)

So what can we do? As we all know managing professional staff provides its own challenges to the best of times!

Actively engage other sectors is to ensure and manage the change process that reduces the risks. They plan to avoid a burglary in productivity. An interesting parallel is in the university sector. The tensions have arisen between the teachers and staff issimilar to that between the lawyers and support staff. I am in the design and implementation of a variety of programs that change of universities involved in order. Leading and Managing Change (for managers) and management of change, allowing (for staff) Workshops for the smooth implementation of change and also the manager with sufficient knowledge and skills to mediate, navigating rough seas.

What plans do you have to equip your lawyer / managers with the skills? My tip is to understand how the teams andPeople react to changes.

Managers should be preparing for a decline in productivity and a plan to minimize it.

Managers should know what they and their employees tick. You need to communicate their vision for the future, drivers of change continues in a positive manner.

Bruce Tuckman, the team dynamics found that the teams have investigated different life cycles - they play an important role in understanding why teams react and behave in certain ways. According to Tuckman model of teamExpect your team to go through a storm and even mourning phase.

Until next time and best wishes

Jane Wintringham, Leading Women Lawyers

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