This study report provides European management consulting firms' assessment of trends and currently prevailing business models in the industry. It depicts the different threats and opportunities that consulting firms with different business models, consulting foci, sizes, leverage ratios, international orientations, and geographical footprints face; it also reveals these firms' adaptation strategies. Based on an analysis of a survey of 311 consulting firms from 26 European countries, the report highlights the most interesting results. This includes general development patterns of the European consulting industry as well 15 specific key insights for a consulting firm's strategy and industry, alliances, professionals, clients and projects, and economics.