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Cravath System
The Cravath System is a set of business management principles first developed at Cravath, Swaine & Moore. John Oller, author of ''White Shoe'', credits Paul Drennan Cravath with creating the model in the early 20th century, which was adopted by virtually all white-shoe law firms, fifty years before the phrase ''white shoe'' came into popular use. The Cravath System has been adopted by many leading law firms, management consulting firms, and investment banks in the United States. Components Paul Cravath built a reputation handling complex lawsuits for the new electrical industry. Devising the Cravath System, he enlarged the law office and professionalised it by establishing full-time librarians, a recruiting system focused solely on the highest-ranked law schools, and partners who specialized. Robert Swaine describes the fundamentals of the Cravath System in the beginning of Volume 2 of the history of the Cravath firm. These include: ; Recruiting staff:Paul Cravath sought to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cravath, Swaine & Moore
Cravath, Swaine & Moore LLP (known as Cravath; ) is an American white-shoe law firm headquartered in New York City. The firm has additional offices in London and Washington, D.C. History In 1854, former college classmates William H. Seward (later Abraham Lincoln's Secretary of State) and Richard M. Blatchford merged their respective law firms, forming Blatchford, Seward & Griswold. Blatchford served in the New York State Assembly, and as U.S. Minister to the State of the Church. His son, Samuel, also a partner at the firm, served as a federal district court and appeals court judge, was appointed to the United States Supreme Court, in 1882, by President Chester Arthur, serving for 11 years until his death; he was the first person to serve at all three levels of the judiciary. Seward served as both Governor and Senator from New York, supported the 1865 passing of the Thirteenth Amendment, and negotiated the 1867 purchase of Alaska from Russia in a transaction that his opponent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lockstep Compensation
Lockstep compensation or seniority-based compensation is a system of remuneration in which employees' salaries are based purely on their seniority within the organization. For example, in the legal profession, where this system is most commonly found, all law school graduates hired by a law firm who graduated in the same year receive the same base pay regardless of background, experience, or ability. These associates will also receive automatic annual pay raises, bonuses, and promotions. Alternatively, some law firms implement a lockstep compensation system starting with partners or partner-track associates. During the Great Recession, some law firms began replacing the lockstep system with "merit-based" systems. Proponents of the system have argued that lockstep compensation promotes loyalty, discourages intra-office competition, reduces the need for perpetual performance assessment, and provides for more flexible work structures. These benefits, however, are limited to situati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Training
Training is teaching, or developing in oneself or others, any skills and knowledge or fitness that relate to specific useful competencies. Training has specific goals of improving one's capability, capacity, productivity and performance. It forms the core of apprenticeships and provides the backbone of content at institutes of technology (also known as technical colleges or polytechnics). In addition to the basic training required for a trade, occupation or profession, training may continue beyond initial competence to maintain, upgrade and update skills throughout working life. People within some professions and occupations may refer to this sort of training as professional development. Training also refers to the development of physical fitness related to a specific competence, such as sport, martial arts, military applications and some other occupations. Training methods of all types can be improved by setting specific, time-based, and difficult goals. This allows for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recruitment
Recruitment is #Process, the overall process of identifying, sourcing, screening, shortlisting, and interviewing candidates for Job (role), jobs (either permanent or temporary) within an organization. Recruitment also is the process involved in choosing people for Unpaid work, unpaid roles. Management, Managers, human resource generalists, and recruitment specialists may be tasked with carrying out recruitment, but in some cases, Public sector, public-sector employment, commercial Employment agency, recruitment agencies, or specialist search consultancies such as Executive search in the case of more senior roles, are used to undertake parts of the process. Internet-based recruitment is now widespread, including the use of Artificial intelligence in hiring, artificial intelligence (AI). Process The recruitment process varies widely based on the employer, seniority and type of role and the industry or sector the role is in. Some recruitment processes may include; * Job analysis f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The American Legal Profession
The history of the American legal profession covers the work, training, and professional activities of lawyers from the colonial era to the present. Lawyers grew increasingly powerful in the colonial era as experts in the English common law, which was adopted by the colonies. By the 21st century, over one million practitioners in the United States held law degrees, and many others served the legal system as justices of the peace, paralegals, marshals, and other aides. Colonial era From their inception, the American colonies followed the English common law tradition. Legal procedures in the 17th century were quite informal, with judges discussing issues directly with the people involved in the case. Citizens generally represented themselves, which resulted in benefits to some and disadvantages to others. The solution was to hire a professional lawyer. By 1700, both judges and judicial procedures had become much more formal; to win a case, a client needed a lawyer to handle th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lobbying
Lobbying is a form of advocacy, which lawfully attempts to directly influence legislators or government officials, such as regulatory agency, regulatory agencies or judiciary. Lobbying involves direct, face-to-face contact and is carried out by various entities, including individuals acting as Voting, voters, constituents, or private citizens, corporations pursuing their business interests, nonprofits and Non-governmental organization, NGOs through advocacy groups to achieve their missions, and legislators or government officials influencing each other in legislative affairs. Lobbying or certain practices that share commonalities with lobbying are sometimes referred to as government relations, or government affairs and sometimes legislative relations, or legislative affairs. It is also an Industry (economics), industry known by many of the aforementioned names, and has a near-complete overlap with the public affairs industry. Lobbyists may fall into different categories: amateur lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Civil Law (common Law)
Civil law is a major "branch of the law", in common law legal systems such as those in England and Wales and in the United States, where it stands in contrast to criminal law. Glanville Williams. '' Learning the Law''. Eleventh Edition. Stevens. 1982. p. 2.W J Stewart and Robert Burgess. ''Collins Dictionary of Law''. HarperCollins Publishers. 1996. . Page 68. Definition 4 of "civil law". Private law, which relates to civil wrongs and quasi-contracts, is part of civil law, as is contract law and law of property (excluding property-related crimes, such as theft or vandalism). Civil law may, like criminal law, be divided into substantive law and procedural law. The rights and duties of persons ( natural persons and legal persons) amongst themselves is the primary concern of civil law. The common law is today as fertile a source for theoretical inquiry as it has ever been. Around the English-speaking world, many scholars of law, philosophy, politics, and history study the t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Esprit-de-corps
Morale ( , ) is the capacity of a group's members to maintain belief in an institution or goal, particularly in the face of opposition or hardship. Morale is often referenced by authority figures as a generic value judgment of the willpower, obedience, and self-discipline of a group tasked with performing duties assigned by a superior. According to Alexander H. Leighton, "morale is the capacity of a group of people to pull together persistently and consistently in pursuit of a common purpose". With good morale, a force will be less likely to give up or surrender. Morale is usually assessed at a collective, rather than an individual level. In wartime, civilian morale is also important. Definition Military history experts have not agreed on a precise definition of "morale". Clausewitz's comments on the subject have been described as "deliberately vague" by modern scholars. George Francis Robert Henderson, a widely read military author of the pre-World War I era, viewed m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clique
A clique (AusE, CanE, or ; ), in the social sciences, is a small group of individuals who interact with one another and share similar interests rather than include others. Interacting with cliques is part of normative social development regardless of gender, ethnicity, or popularity. Although cliques are most commonly studied during adolescence and middle childhood development, they exist in all age groups. They are often bound together by shared social characteristics such as ethnicity and socioeconomic status. Examples of common or stereotypical adolescent cliques include athletes, nerds, and "outsiders". Typically, people in a clique will not have a completely open friend group and can, therefore, "ban" members if they do something considered unacceptable, such as talking to someone disliked. Some cliques tend to isolate themselves as a group and view themselves as superior to others, which can be demonstrated through bullying and other antisocial behaviors. Terminology With ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Silo
An information silo, or a group of such silos, is an insular management system in which one information system or subsystem is incapable of reciprocal operation with others that are, or should be, related. Thus information is not adequately shared but rather remains sequestered within each system or subsystem, figuratively trapped within a container as grain is trapped within a silo: there may be much of it, and it may be stacked quite high and be freely available within those limits, but it has no effect outside them. Such data silos are proving an obstacle for businesses wishing to use data mining to make productive use of their data. Information silos occur whenever a data system is incompatible, or not integrated, with other data systems. This incompatibility may occur in the technical architecture, in the application architecture, or in the data architecture of a data system. However, since it has been shown that established data modeling, data-modeling methods are the root ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Part-time Job
A part-time job is a form of employment that carries fewer hours per week than a full-time job. Workers are commonly considered to be part-time if they work fewer than 30 hours per week. Their hours of work may be organised in shifts. The shifts are often rotational. According to the International Labour Organization, the number of part-time workers has increased from one-quarter to a half in the past 20 years in most developed countries, excluding the United States. There are many reasons for working part-time, including the desire for a less stressful schedule, having one's hours cut back by an employer and being unable to find a full-time job. The International Labour Organisation Convention 175 requires that part-time workers be treated no less favourably than full-time workers. In some cases the nature of the work itself may require that the employees work part time. For example, some amusement parks are closed during the winter months and keep only a skeleton crew on hand fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Up Or Out
Up or out, also known as a tenure or partnership system, is the requirement for members of a hierarchical organization to achieve a certain rank within a certain period of time. If they fail to do so, they must leave the organization. Examples Private sector "Up or out" is practiced throughout the accounting industry in North America, most notably at the Big Four accounting firms, which also practice this policy in their branches in other countries. Up or out is also practiced in the investment banking industry, where third-year analysts and third-year associates who will not be promoted are asked to leave the bank. The management consulting industry also practices up or out, where it is commonly regarded as a sign of the industry's "hard-nosed approach to doing business," with Bain & Co and McKinsey & Company being the two consultancies most closely associated with the approach. According to Leslie Perlow, up or out is also employed at Boston Consulting Group. Among m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
