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The Fannie Mae Law Firm?
What do Coca-Cola, Intel, Nippon Tel & Tel, Merck, Toyota, and Novartis have in common? Top 10 most valuable global corporations by market capitalization in 1998, today they are replaced by PetroChina, Industrial & Commercial Bank of China, Apple, BHP Billiton, China Mobile, and Petrobras. (Only GE, Microsoft, Royal Dutch Shell, and Exxon Mobil managed to be on both Top 10 lists.) In a world without the protection of the profession, fates can and do change quickly. Or think of the companies that were praised in the book “Good to Great.” Where are Fannie Mae and Circuit City now? The space next to some Wal-Marts is still vacant. Factors that led organizations to greatness yesterday might not help in the future. And new competitors pop up and take over.
How About Law Firms?
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