Nearly a third of my university friends have, or currently work for a management consultancy firm. Maybe I did the wrong degree, or just fell in with a bad crowd?
Either way, I can understand the appeal. The work they do is incredibly diverse: spending a couple of weeks looking at food sourcing for a retailer, a month developing strategy for a bank, and then 3 months developing smart meter systems with a utility company (just as an example). But increasingly they also work with pharma.
These firms not only compete head to head with specialist life sciences consulting firms (such as Campbell Alliance), but increasingly with agencies. They’re now taking on design, development and, yep, communications work too.
So it helps to understand how they work, as well as what they think. This week the sources come from the top consulting firms:
- McKinsey & Company– the most prestigious, and the most prolific when it comes to thought leadership. Their Mckinsey Insights blog and app is fantastic. Try: A Digital Prescription for Pharma Companies
- Deloitte – 2016 Life Sciences Outlook report is worth a read
- Accenture– writing on 5 trends disrupting healthcare and they’ve done a jazzy interactive infographic on the use of analytics in healthcare (the style is better than the content, however)
- PwC – writing on new ways and models to deliver care
- Boston Consulting Group – a solid thought piece on defining health care outcomes
And, if you only read one thing: work through pages 17 to 22 of Mckinsey’s “Beyond the Storm”. An excellent overview of how to launch new molecules, and the role of market shaping activities.