Abstract

Business analysis, in the environment and industry context, on frequent basis is a necessity in today's rapidly changing business environment. This paper provides a comprehensive research analysis of FosterQuan, LLP, one of the largest immigration law firms of America. Moreover, the legal service industry analysis, change management, competitive forces assessment, key success factors, industry attractiveness analysis and recommendations are also elaborated in the document.

FosterQuan Research Analysis

Driving Forces of Change Analysis

The changing trends in the legal service industry and the overall economy have led the legal service industry to adopt measures that were previously no incorporated in their business model.

Reversal Trend in Collection

Average profit per partner and revenue per lawyer fell for firms in America, post recession. This decline was due to slow business growth and an increase in head count for large firms during the period. The trend is a reversal from historical trends, in which the top law firms have generally increased their collective share of the industry (Ross, p.108). the company is recommended to control the expenditures on nonessential legal services It may also go for smaller regional offices and branches to save funds and deal with this change.

Transparency and the Role of Technology

The rules regarding immigration have become very strict in the recent times. Authentic and legal documents are required in every phase of the process. FosterQuan may incorporate advanced technology systems for data management and verification process.



Performance-Based Pricing

The recession has led to a dramatic shift in the business model of industry players. Traditionally, clients have been billed for work on an hourly basis. Many clients are critical of this because it does not provide incentive for firms. However, the current model makes this difficult, and many companies end up paying high-profile firms hundreds of dollars per hour for work that is being completed by lawyers fresh out of law school. The company may take this an opportunity by creating awareness among the companies of this practice. It could enhance its client base in this manner.

Increasing trend of Immigration

The industry in which the company operates caters to the immigration related legal services. The past era has experienced an increasing trend in of people migrating from their home town to foreign countries for job or educational purposes. The company may take advantage of this changing trend by engaging in aggressive marketing strategies. It is recommended that the company target companies who are heavily employing foreign labor.

Competitive Forces

Threat of New Entrants: Moderate

The threat of entry into an industry depends on the barriers to entry along with the reception from the existing competitors (Walker, p.46). In case of legal service industry, in which the targeted company operates, this threat is moderate. One of the reasons is that to start up a law agency, one need to get license form a credible law society. It also requires a regulatory supervision from that society. Initial investment in this business is relatively low, including rent, communication devices, stationary and other nominal expenses. The most important factor that hinders ...