“ ...lawyers are at the coalface when implementing instructions, and are in a position of maintaining a steady dialogue with clients that may be vulnerable to the shift in the investment climate. Clients should be encouraged to maintain a dialogue with stakeholders. Stakeholder dialogue ...goes beyond the narrow group of employees, investors and lenders
....So what difference can lawyers make? If they actively participate in the stakeholder dialogue, they can help to identify issues at an early stage when the need for change may not always be apparent to clients....They can encourage companies to constantly reassess ..prospects and business plans and be better placed to help take remedial action before it is too late. Ventures that succeed will listen, embrace change and adapt quickly. The same, of course, applies to law firms”.