2014 futures conference remarks by thomas l. sager ballard spahr, llp october 16, 2014
TRANSCRIPT
2014 FUTURESCONFERENCE
Remarks by
Thomas L. SagerBallard Spahr, LLP
October 16, 2014
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Safety and Health
Environmental Stewardship
Respect for People
Highest Ethical Behavior
2014 DuPont Core Values
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DuPont in 1802 DuPont in 2014
64,000 employees
> 300 sites
> 90 countries
Hundreds of thousands of DuPont products and customers
$35.7B in sales (2013)
40 employees
1 site
1 country
1 product
12 customers
$15,116 in sales (1804)
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DuPont’s First Outside Counsel
Alexander Hamilton
• Outside counsel from 1802-1804.
• Died in 1804 duel with Aaron Burr; each using DuPont gun powder.
• Widely regarded as the father of the U.S. banking system (as we knew it).
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DuPont’s First Outside Counsel
Alexander Hamilton
• Outside counsel from 1802-1804.
• Died in 1804 duel with Aaron Burr; each using DuPont gun powder.
• Widely regarded as the father of the U.S. banking system (as we knew it).
“Though widely regarded as a fine lawyer, Hamilton was selected as DuPont’s counsel primarily because he spoke the same language as the Company’s leaders.”(The History of DuPont Legal, Gamble, et al. 2003)
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DuPont Legal’s Evolution
Phase 1. Creating the Vision & Selecting the Partners: “Convergence”
Phase 2. Vision into Action: Creating the Model
Phase 3. Action Into Results: Measuring Success
Phase 4. An Era of New Leadership: Emergence of Practice Groups
Phase 5. Global Convergence
Phase 6. Power of Collaboration
Phase 7. New Reality
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Phase III
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Metrics: Measuring Success
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Performance Metrics
• Credibility
• Discipline
• Precision
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Performance Metrics
Core Metrics
• Key Performance Indicators
• Compliance
• Efficiency
• Best in Class
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Supporting the New DuPont
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Holliday Challenge
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Transforming For Our Third CenturyTransforming For Our Third Century
1802 1830 1850 1900 1925 1945 1990 2000 2050 2090
Birth
Growth
Maturity
Birth
Growth
Maturity
Birth
Growth
Explosives
Chemistry,Energy
Chemistry, Biology. . .Knowledge - Intensive Solutions
Maturity
Six Sigma
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DuPont Legal: Supporting the “New DuPont”
Agility
• Increase speed, responsiveness and execution
• Stay ahead of the curve
Productivity
• Improve earnings and costs
• Higher volume of transactions
• Identify Plaintiff opportunities
• Leverage resources
Specificity
• Define value, understand process, and measure effectiveness
• Reduce risk
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Phase VI
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Power of Collaboration
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DuPont
DuPont Legal
Legal Practice Areas
Team
Risk Management
Improved client service Cost Control
Competitive Edge
Collaboration
AgilityConsistency
AwarenessEfficiency
Best Practices
Collective Wisdom
Process Standardization
Productivity
Sustainability
Growth
Competitive AdvantageCompetitive Advantage
Leveraging Knowledge
Innovation
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Six Sigma
Driving Continuous Improvement
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Meeting Client Needs Since 1999
• Leadership
• Communication
• Cultural Change
• Results
Six Sigma in Legal
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STREAMline Projects
Project: Recoveries
Project: Records Compliance
Project: Corporate Patenting
Project: Confidential Disclosure Agreements
Project: Off Shore Document Management
Project: Litigation
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How Does Six Sigma Work in theDelivery of Legal Services?
• Provides Business Value
• Addresses Cost and Legal Risk Management
• Prioritizes Problem Solving
• Builds Communication through Teamwork
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New Reality
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Corporate Legal’s New Reality
• More volatile, complex, uncertain environment.
• More Rapid Globalization
• Skills/Education
• Information
• Competitors
• Business opportunities
• Increasing corporate regulation, scrutiny and mistrust.
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New Challenges
• New Foes
• New Theories
• New Business Models
• New Competitors
• New Geographies
• New Regulations
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Legal decisions/actions have value only to the extent they preserve or enhance business options.
New Reality = New Belief
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• Are our people equipped for the “New Reality”
• Do our attorneys possess collaborative intelligence in order to provide truly creative solutions to your most challenging issues?
• Are our attorneys capable of spotting business critical issues before they emerge?
New Resources
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• Lawyers who see opportunity in uncertainty, not just risk
• Legal at the speed of business
What Do We Need?
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Global Outsourcing of Legal Support Services
• Recognize the commodity work and move it to low cost regions.
• Allows shift of lawyer and paralegal work to more strategic issues.
Monitoring and Early Warning System
• Dashboard to sense and respond to “red flags”
• Anticipate future scenarios before they happen
• Adjust legal and business strategy based on changes in assumptions & external environment
New Tools & Relationships
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New Tools & Relationships
Strategic Risk Management Process
• Assessment of complex liabilities using scenarios
• Wide-ranging risk identification (e.g., Cyber Security)
• Generate innovative strategic options to avoid/mitigate risk
Strategic Decision-making
• Systematically avoid impact of biases, traps, and pitfalls
• Identify new opportunities for value creation
• Improve overall quality of decision-making and outcomes
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Driving Better Outcomes
• Critical Thinking• Decision-making• Real Options• Scenario Planning• Systems Thinking• Peripheral Vision
SocialResponseCompetitor
Actions
IndustryPerformance
Regulatory/PolicyShifts
IP Claims
Key External Uncertainties
Flexible Legal Strategies
More Upside/Less Downside
Business Return
Pro
ba
bil
ity
TechnologyChallenges
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