Research On The Competitive Strategy Of Shandong Shunxiang Law Firm

China's legal services market was initially formed in the mid-1980s.In the 1990 s,with the rapid development of our country's economy,the enterprise business scope is more and more wide,rising demand,legal services also gradually expand to the financing of the stock funds,mergers and acquisitions,new energy,futures and other emerging areas,accelerating legal service personnel and institutions.By the end of 2017,the number of practicing lawyers in China has exceeded 365,000,with more than 28,000 law firms,and the legal service market is growing rapidly and competition in the industry has increased.Founded in 1997,Shandong Shunxiang Law Firm has experienced nearly 20 years of development and is based on the local community.It is a well-known comprehensive law firm in Shandong Province and won the title of "Outstanding Law Firm in China".The business of Shun Xiang is involved in many fields such as legal advisers,civil and commercial litigation,mergers and acquisitions,and so on.Ji'nan headquarters has more than 100 full-time lawyers.It has provided high quality legal services for nearly 100 government agencies,large and medium-sized enterprises,banks,non bank financial institutions and so on.It enjoys certain popularity in the industry.However,in recent years,large-scale well-known law firms in Beijing and Shanghai have entered the Shandong market with intensified competition in the legal services market in Shandong.In addition,the shortcomings of the institutional mechanisms in Shunxiang over the years have gradually become apparent.Some high-paying lawyers have transferred to other places,Insufficient talent pool and slow development of high-end businesses have led to a decline in revenue,which poses a great challenge to Shunxiang's development.Against this background,this paper studies the competitive strategy of Shandong Shunxiang Law Firm.This article combines the data of lawyer industry in Shandong Province,the business distribution and charging data of Shunxiang in the past three years,combines the theories of strategic management and competitive strategy,applies PEST analysis method and five forces model to its external environment Analysis,through the Shun's resources,capabilities,value chain analysis of the internal environment were analyzed.At the same time,SWOT analysis was used to study Shunxiang's competitive advantages and disadvantages,and its challenges and threats were analyzed.Through the above analysis,Shunxiang's vision,mission and strategic objectives were formulated and feasibility analysis was conducted on the cost leadership strategy,the concentration strategy and the differentiation strategy.The cost leadership strategy and the centralized strategy were not suitable for Shunxiang.The current situation,Shun Xiang should adopt competitive differentiation strategy.At the same time,it puts forward a series of measures to implement the differentiation strategy in a targeted manner:establishing a differentiated decision-making and distribution mechanism for law firms;improving the differentiated management system of law firms;optimizing the training system for differentiated lawyers in law firms;Differentiated legal services;Construction of law firms differentiated marketing system.In order to ensure the implementation of the strategy,we further put forward the safeguard measures for implementing the strategy:enhancing the cultural construction of law firms;establishing the brand image of law firms;establishing a scientific information management platform;and actively establishing strategic alliances.This article applies the theory of strategic management and competition strategy to the research of competition law of law firms,analyzes the internal and external environment of Shunxiang by scientific strategic analysis tools,clarifies Shunxiang's mission,vision and strategic goals,Choose a suitable Shunxiang's competition strategy,and put forward practical strategies and safeguards.This article will help to improve Shunxiang's competitiveness,break the bottleneck of law firm development,and create a professional team of lawyers to provide theoretical basis and support for Shunxiang's fierce competition in the legal services market.