Turning knowledge into value in professional service firms

Abstract: Purpose – The purpose of this paper is to present and discuss thefindings of research into the value perception of knowledge management amonglawyers and staff from among the top ten global law firms. Design/methodology/approach – Interviews were conducted with lawyers as well as knowledgemanagement (KM) service providers within the selected law firms. The resultswere then analysed by statistical means and compared to previous findings inliterature. The methodology is inspired and broadly based on a research paperinto the value perception of information by Broady-Preston and Williams.Findings – The findings are that respondents showed strong support for the valueof KM to law firm success through concepts such as improved efficiency, qualityand other drivers for better performance. Research limitations/implications –The survey in the paper itself was limited to the top ten global law firms andis therefore not representative of the entire professional service sector or thelaw firm sector. Practical implications – The results in the paper indicatestrong support from the internal customer side for the notion of KM adding valueto the business of a law firm. Originality/value – Prior to this paper there hasbeen little research into the value perception of knowledge management withinthe professional service