Professor Michael Porter of Harvard Business School described the 5 forces which affect the strategic position of any business.

The stronger the forces are the more it is important to understand what is going on.

From being a strategic backwater the Legal Services market is now beginning to heat up and the forces are getting stronger.

The five forces are:

Competitors

Suppliers

Customers

New Entrants

Substitutes

This brief article by Andrew Hedley  explains why firms need to understand their situation better if they are to thrive in a more dynamic environment.