Changes in the Client-Consultant Relationship
The recession of the early 1990s was the first — and so far only — time that modern Consulting firms have encountered any significant decline in the demand for their services.1 By contrast with other sectors, the problems suffered by consultancies were comparatively light, but they were still sufficient to produce redundancies and insolvencies. The experience was a shock for the industry: accustomed to an environment of continuous growth, consulting firms were poorly prepared for the operational efficiencies required by the new market conditions: many saw a sudden and dramatic fall in profits.
KeywordsIntellectual Capital Consult Firm Management Consultancy Dramatic Fall Witch Doctor
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- 3.Eileen C Shapiro, Fad Surfing in the Boardroom: Managing in the Age of Instant Answers, Reading, MA: Addison-Wesley, 1996, p. 211.Google Scholar