Strategy Consulting at the Crossroads: Technical Change and Shifting Market Conditions for Top-Level Advice

Abstract

In the 1990s, the market for strategy consulting firms changed markedly. The growth of IT-related advice, and the entrance of new competitors into strategic advice, emerged as new market determinants. In spite of stable growth, strategy-consulting firms are facing increasing competition from service providers that had originally specialized in other fields of consulting and related activities. This article outlines the changes that triggered the shifts in the consulting market structure, and refers to evolutionary economics, information economics and embeddedness theory in order to explain them. It discusses the possibilities for strategy consulting firms to cope with these challenges, and concludes with a discussion of the broader developments in the light of current events.

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