The consultancy fee monopoly has become a pressing concern in recent years, raising questions about the fairness and competitiveness of the consulting industry. The term refers to the phenomenon where a few large consulting firms dominate the market, charging exorbitant fees to clients while stifling competition from smaller, innovative players. This review aims to provide an in-depth analysis of the consultancy fee monopoly, its causes, consequences, and potential solutions.
For a consultancy to achieve fee-setting power, one or more of these conditions must exist:
