Many firms experienced lower demand due to the impact of covid-19. However, some were better positioned than others to withstand the shift in the economy. Are there common traits among these firms that enabled them to outperform their peers? How can other firms emulate these to improve their prospects?

Research undertaken by the Thomson Reuters Institute outlines some key characteristics of firms that consistently rank high across a range of key financial metrics, including overall profits, revenue per lawyer and average profit margins. While the study covers 160 US firms, there are points that UK firms should consider.

So-called ‘dynamic’ firms that rank among the top quartile across all of these metrics, have a ...

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