Tom Brokaw once asked a series of candidates in a town hall debate, “What don’t you know and how will you learn it?” This funny question is actually a good way of thinking about how to tackle many issues around which we don’t have complete knowledge. We know that we want to be expert enough to ask the right questions, but we may lack sufﬁcient expertise to know what those questions are.
Donald Rumsfeld, during a Department of Defense news brieﬁng, once famously broke down the world of “unknowns” in to three categories. There are “known knowns.” These are the things we know that we know. However, there are also “known unknowns.” These are things we know that we don’t know. And lastly, there are “unknown unknowns.” These are things we don’t know we don’t know.
The challenge for some claims executives who are looking for the right legal spend management business partner is that they may have a fair number of unknown unknowns. In other words, they may not be sure what to ask about, what to look for, and how to ﬂush out the philosophies and practices of their potential new business partner.
This article will summarize a few known knowns about effective legal spend management. This will help you focus and direct your questioning – ensuring that you ﬁnd a partner that will deliver truly effective solutions for your business.