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  • ACCs 2013 Corporate Counsel University May 19-21, New Orleans

    This material is protected by copyright. Copyright 2013 various authors and the Association of Corporate Counsel (ACC).

    Materials may not be reproduced without the consent of ACC. Reprint permission requests should be directed to ACCs Legal Resources Department at ACC: 202.293.4103, ext. 338; legalresources@acc.com

    Monday, May 20, 2013

    9:00 AM 10:30 AM

    101 - Adding Value: Strategic Planning and

    Demonstrating Success

    William Potter

    Attorney

    Frederick Stein

    SVP, General Counsel and Secretary

    Redbox

  • Faculty Biographies

    William Potter

    Attorney

    Frederick Stein

    SVP, General Counsel and Secretary

    Redbox

  • Session700AddingValue:StrategicPlanningand

    DemonstratingSuccessWilliamC.Potter,C.O.O.&GeneralCounsel,Creations,LLC

    andFredStein,GeneralCounsel,Redbox

    (ActOneEstablishingYourRoleandSettingUpALegalDepartment)

    WilliamC.Potter(ActTwoStrategicBusinessPlanning:MakingYourLegalDepartmentan

    EffectivePartnertoYourCompanysBusinessUnits)

    FredStein(ActThree:GoalSettingandMetrics)

    1

  • ActOneEstablishingYourRoleandSetting

    UpaLegalDepartmentWilliamC.Potter&FredStein

    TheslidesforthisportionofthepresentationarebasedonslidesoriginallypreparedandpresentationspreviouslygivenbyJamesW.Peck,CorporateVicePresident,GeneralCounsel&Secretary,Nypro,Inc.,andJamesM.

    McGrew,ClientRelationsExecutiveatOgletreeDeakins,LLC

    2

  • Question#1:WhoisYourManagementTeam?

    MeetandGettoKnowtheManagementTeam Meeteverymemberofmanagementand,justasimportantly,

    theirrespectiveleadershipteamsandadministrativeassistants. Totheextentyoucan,interviewthem:

    Learntheirbackgrounds,interests,managementstyles,petpeeves.

    Learnaboutthecompany,thebusinessandindustry. Learntheirpreconceivednotionsoflawyersandthendefy

    them! Firstimpressionsmatter.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    3

  • Question#1:WhoIsYourManagementTeam?

    MeetandGettoKnowYourTeam Dothesamewithyourdepartment Gettoknowyourstaff

    Strengths Needs Beginthestrategicplanningprocess

    Youarenowamanager Learnyourcompanyshumanresourcesrulesandprocedures

    GettoknowHR lookforopportunitiesforHRmanagementtraining,ifneeded

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    4

  • Question#2:HowDoYouLetYourBusinessPeopleKnowYouAreAboutBusiness?

    Getintheboatandgrabanoar.Letthebusinesspeopleknowyourebusinessfocused.Youreheretopartnerwiththemtosolveproblemsandcreatesolutionssotheycanrunthebusiness.Learnthebusiness.Critical.Strivetobecomeanexpert.Gotothefloorimmediately;demonstrateinterestandexcitementinthebusinessofeachofyourclientsandtheirrolesandthendemonstratethatyourskillsandbackgroundcanmaketheirliveseasier.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    5

  • Question#2:HowDoYouLetYourBusinessPeopleKnowYouAreAboutBusiness?

    Learntheindustry.Learneverythingyoucanabouttheindustry.Askmanagementaboutkeyassociations/industrygroupstojoin;subscribetoindustryperiodicals.Learntheculture.Relearntheculture.Inotherwords,makenoassumptions.Askquestionsandaskforhelp.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    6

  • Question#3:WhoAreYourClients&HowDoYouServiceThem?

    BOD/CLevelExecutivesExecutiveVPsMidLevelExecutivesDowntoEntryLevelManagers.ExternalClientsVendors,Customers,Others

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    7

  • Question#3:WhoAreYourClients&HowDoYouServiceThem?

    Client/customerservicementality.Theseareyourclientssotellthemyouwillrefertothemassuch.Thereisonegoodthingaboutlawschoolandlawfirmtraining:Aclientservicementality.Beaccessibleandresponsive.Thisisatopissue.Giveyourclientsyourhomenumber,yourcellnumberandanyothernumberyoumayhave.

    Lunchesorotheropportunitiestonetwork:Dothemearlyandoften.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    8

  • Question#3:WhoAreYourClients&HowDoYouServiceThem?

    Askifyoucanattendclientstaffmeetings.Thesooneryouknow,thequickeryoucanhelpyourclientsavoidproblemsandcapitalizeonopportunities.

    Becomepartofthefabric.Strivetobecomeknownasakeybusinesspartnerandadvisor notjustthelegaldepartment.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    9

  • Question#4:HowDoYouLearnYourRole?

    BecometheSecretarytotheBoard.Getsyouaseatatthehighesttable(BoardofDirectors)evenifatfirstyourethereonlytotaketheminutes.Whileyourethere,gettoknowyourBoardpersonally.Offertohelptheminanywaypossible.Theyareyoursecondmostimportantconstituencynexttoyourownboss.Becomea(orthe)contractsignerinyourCompany.Givesyouaseatatthetableonlegalandbusinessissues.StartwithNDAsifnecessaryandbuildfromthere.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    10

  • Question#4:HowDoYouLearnYourRole?

    READ,READ,READ.GetyourhandsonanythingthatexplainstheCompany:Articles,ByLaws,Boardminutes,registrationstatements,keycontracts,proxystatements,pressreleases,etc.Reviewthewebsite,everyword.Reviewanyintranet.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    11

  • Question#4:HowDoYouLearnYourRole?

    Timeforaroadtrip I.Assoonaspossible,gettotheplantsorotherlocationsawayfromHQ.ItswherethemoneygetsmadeandmanyofyourimportantclientsmaynotbeatHQanyway.Gettoknowthekeyplayers.Timeforaroadtrip II.Gopersonallymeetallofyourlawfirms,orhavethemcometoyou.FindoutwheretherelationshipsarebetweenlawfirmattorneysandtheCompany.Candidlydiscussyourexpectation,petpeeves,etc.LawfirmscanbegreatsourcesofknowledgeaboutyourownCompany.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    12

  • Question#4:HowDoYouLearnYourRole?

    Deliverearlyandnoticeablesuccesses.TRANSLATION:SAVEMONEYASAP!! Lowerthecostofoutsidelegalservices.StudytheACTValueChallengeanditssuccesses considervaluebillingarrangements.Enlistthehelpoflawfirmsthatarelikeminded.LearnhowthecompensationstructureoftheCompanyworks,especiallyforseniormanagementandframeyourcostreductionmeasuresinthoseterms,i.e.,youreloweringcoststoimproveprofitabilityinkeyareasthatwillthenbenefitallemployeesintermsofbettercompensation.Itsasimple,butimportantmessageandwilldemonstratequicklytoyourclientsthatyougetit.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    13

  • Question#5:HowDoYouBecomeaCorporateCommunicatorandNOTaLawyerCommunicator?(Also,knownasbeingaTeamLeader/MemberandnotMr./Ms.DivaLawyer!)

    Communicateascrisply/conciselyaspossible,especiallytotheCEOandtheBoard.Also,andthisiskey,avoidtheuseoflegalese.Communicatetimelyandmeetalldeadlines justlikeinprivatepractice.Hireonlylawfirmsthatdothesame.

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    14

  • Question#5:CorporateCommunicator/TeamLeaderMember

    BeOKwithbeingoverruled.Embraceitastherightbusinessdecision,evenifithaslegalrisk(solongasitsnotillegal).Explaintoyourclientswheretherealrisksare,theBettheCompanyClauses,andwhytheyreallycantcrossthoselines.Trainandsurvey,surveyandtrain.Theyreyourclients,solooktothemforadviceandguidance.Whatsimportanttothem?

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    15

  • Question#5:CorporateCommunicator/TeamLeaderMember

    Keepaskingforhelp.Admitthatyourestilllearningthebusinessandstillneedtheirhelp.Marketingisnotadirtyword.Indeed,itsessential.Whatisyourbrandwithintheorganization?Whoelseisgoingtoshowcaseyoursuccesses?Findappropriatewaystodemonstrateyourwinsandsavings.DoaYearEndReport keepitto5pages,butensurethatthekeyvictoriesandachievementsgetvisibility.Also,promotethesuccessesofyourteam(onceyougettohireateam,thatis!).

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    16

  • Question#6:HowDoYouGetfromPointAtoPointBtoPointZAndDemonstrateIt?

    Strategicallyplan.Runyourdepartment/functionlikeabusiness.Developabusiness/strategicplan.(AndListentoBilinActTwo!)Metrics,MetricsandMoreMetrics! Develop,implementandmonitorrelevantmetricsforyourLegalDepartmentandyourCompany(AndlistentoFredinActThree!)

    FirstDaysasGC:6Questions,Answers&Actions

    OnWhichtoThrive

    17

  • AllTheDaysofYourLifeasGC:1LastSuperCriticalPointofAdvice

    OnWhichtoThrive

    ENJOYYOURSELF!BeingaGCisaHOOT!

    Theremaynotbeabetterpositiontofulfillyouasaprofessionalandaperson!

    ManyfolksinourprofessionwouldlovetobeaGC,onlyafewarechosen!

    Enjoytheride!!

    18

  • ActTwo:StrategicBusinessPlanning

    MakingYourLegalDepartmentanEffectivePartnertoYourCompanys

    BusinessUnits

    ByWilliamC.PotterC.E.OS..&GeneralCounsel

    Creations,LLC

    19

  • I. Introduction.A. WhatTypeofLegalDepartment/G.C.

    isWantedatyourCompany?B. ValueofBusinessPlanC. EstablishmentofBusinessPlanD. UtilizationofBusinessPlanE. Examples

    StrategicBusinessPlanning

    20

  • A. TypesofLegalDepartments/GeneralCounsels1. StaticRole

    a. Limitedparticipationindefiningcorporatestrategies

    b. Emphasisoncompliancec. Primarilyreactiveandautonomous

    StrategicBusinessPlanning

    21

  • 2. ProactiveRolea. Seektomergecorporatelegalparameterstothe

    corporatestrategicbusinessplanb. Fullinvolvementindevelopmentofcorporate

    businessstrategiesc. Reducedemphasisoncompliance

    StrategicBusinessPlanning

    22

  • 3. MiddleRole HolisticApproacha. Proactive,futurefocusb. Complianceroleisnotlostintheshuffle

    autonomyisimportantc. Requiresun

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