Since the 1960s the US government has fueled a tumultuous business environment with a drastic increase in laws and regulations. Lawyers, accountants, computer and network specialists, and management consultants staff the professional services industry. As simple narration gave way to complex legal documents, lawyers proliferated. We live in a litigious society in which there is now a surplus of lawyers, creating stiffer competition. Companies and government agencies often bring in hired guns with expertise in key areas to fight their legal wars.
Law firms specializing in high-tech or intellectual property issues are the industry's stars.
Accountants are second only to lawyers in terms of revenues and tasteless jokes. Andersen Worldwide is locked in a continuing struggle with Andersen Consulting , which is aching to divest itself of its parent. Not without some arrogance have the Big Five begun making inroads into legal services and forging deeper into consulting arenas, prompting cries of protest from lawyers and raising charges of conflicts of interest. Much of the industry's growth is occurring overseas, particularly in the Pacific Rim, eastern Europe, and the Commonwealth of Independent States. The Big Five are well placed to take advantage of the growing need for consultants in developing countries.