10.3 Bulstrode, Barker and Bennett is a successful firm of solicitors operating in a small town. Bulstrode died some years ago, Barker has retired, but Dexter Bennett still works in the business as senior partner. There are three junior partners, and Dexter has called a meeting of the partners to discuss the decisions they should make on the following proposals:

a) The conveyancing department is very busy. Would it make economic sense for the firm to employ another solicitor in that department?

b) The firm currently specializes in conveyancing and litigation work. The town’s principal specialist in divorce work has just retired, and Bennett thinks there is an opportunity to pick up some extra business.
He knows a highly experienced divorce specialist who is currently working for a large firm in London.
She could be persuaded to move if she were offered a position as a junior partner.
What information are the partners likely to need (both financial and non-financial) in order to reach the right decisions on these proposals?
Exercises: Answers Available on the Instructors’ Section of the Book’s Website