The new rules of law
An OC&C Insight on Legal Spend OptimisationSaturday 02 August 2008
Historically, legal has not been a primary lever of bottom-line improvement strategies. This is understandable. The legal function is unique with its own language, culture, and objectives, and deciphering the nature and fair value of specific legal activities can be difficult for non-practitioners.
In particular, procurement specialists have had difficulty defining their role within this complex spend area, caught between delivering savings and mitigating business risk. For companies entrenched in ‘bet-the-company’ litigation, the situation is amplified. The tendency is for outside council to leave no stone unturned, consequently driving up legal fees, yet the benefit of incorporating spend management processes is considered untimely and risky.
Enter the dragons' den
The Chinese dragons dominate the top end of the 'OC&C China 50' study of the largest 50 FMCG companies in China - 7 out of the top 10 companies are from China or Taiwan and 60% of the list as a whole is occupied by the local players
Recalibrate to win
India had been on a dream run for the last 3 years, but the year 2008 came as a sudden jolt
Size isn't everything
Whilst all good competitive strategy can be traced back to first principles, you may think that reaching back to biblical times is a step (or perhaps several steps) too far.