25 years since 'P2': Taking stock and charting the future of professional firms

Michael Smets, Tim Morris, Andrew Von Nordenflycht, David M. Brock

Research output: Contribution to journalArticlepeer-review

24 Scopus citations

Abstract

In this article, we introduce the theme of the special issue, reviewing and analyzing 25 years of the professional partnership, or P2, stream of research. We structure our analysis around the three dimensions of control that structured the original P2 paper - strategic, operating, and financial control - and their underlying drivers: knowledge intensity, professionalized workforce, and low capital intensity. We then introduce the five papers selected for the special issue, positioning each relative to the conceptual scheme of the research field as a whole. We then identify a set of themes that are poised to dominate professional firm research for the next quarter century - namely internationalization, changing career and work-life preferences, de/re/regulation, and technology. These analyses lead us to a new set of PSF dimensions, which we present as an emerging picture of this dynamic field of research and practice.

Original languageEnglish
Article numberjox006
Pages (from-to)91-111
Number of pages21
JournalJournal of Professions and Organization
Volume4
Issue number3
DOIs
StatePublished - 1 Oct 2017

Keywords

  • de/re/regulation
  • internationalization
  • knowledge intensity
  • partnership
  • professional services
  • technology

ASJC Scopus subject areas

  • Business and International Management
  • Strategy and Management
  • Organizational Behavior and Human Resource Management

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