Job Fields in CONSULTING & ENTREPRENEURSHIP

Consulting

Companies of all kind of branches are repeatetly hiring consulting companies in order to either receive support for the companies‘ management in business strategy development and/or with the developement and implementation of certain projects if the company needs to outsource expertise.

Known big management consultancies like BCG, McKensey, etc., which do consulting for all branches and topics, are popular for high income and a lot of travelling, but are also known for high level of work and stress. Nevertheless, it enables to build up a great manifold network and to gain knowledge and expertise for various industries and markets in a short time. There are also smaller management consulting companies which are specialized on certain branches and topics. Furthermore, there are also so called “boutique” consulting companies, which are only specialized on consulting for one topic or branch, such as the pharma/healtcare/life science branch. The smaller the company is that you start at, the more tasks and responsibilities you will be exposed to at entry level position.

Key topics for consulting are e.g. digitalisation/IT implementation, business strategy development, human resources, sales, marketing, pricing, customer relations management, change management, reorganisation, supply-chain-management, innovations and growth, mergers and acquisition, and sustainability.

Key topics for pharma consulting are e.g. product life cycle management, pricing and market access, business unit strategy, market analysis, commercialization, product launch strategy and management, forecasting, implementations of new health care regulations.

Job Positions:

Analyst, Consultant, Senior Consultant, Principle

Skills:

Analytical & strategic skills, intercult. comm., stress-resistance, quick understanding, customer focus

 

 Links with further information

Analyst/ Consultant:  

 

Source: Gramlich, P., Bodewits, K. (2018). PhD! And, next? A guide for natural- and life scientists. Munich: NaturalScience.careers https://www.brandeins.de/magazine/brand-eins-thema/consulting-2019/interaktives-ranking-und-bestenliste    https://www.iqvia.com/de-de/solutions/research-and-development/consulting  

Entrepreneurship

Entrepreneurship comprises the process of setting up, launching and executing a new venture. During your scientific research and discoveries, original ideas might arise and the plan evolves to translate these into services or products. As launching a new service or business brings along some risks and demands full time commitment, it is crucial to firstly critically evaluate and prepare the business idea: is there a market need and commercial potential, do you have the required skills or do you need further resources, do you have a business plan and forecast, what kind of founding is required and how can it be secured, how would you approach networking and marketing?

As Entrepreneur you mostly start off rather small and can either work self-employed as a freelancer or as a company founder. You may start your own business firstly as only employee, which implies tasks from decision making of a CEO to simplest administrative functions of an assistant. Also, you might decide to get started together with few other people as co-founders, whereby every person covers another expertise relevant for the offering. Depending on your companies business focus, the need for founding will greatly differ. While some service companies manage to start off self-financed, businesses with technological innovations need to raise a lot of money. One can receive informations regarding founding possibilities through chambers (e.g. IHK), start-up organizations, credit institutes and venture capital firms, among others.

Starting your own business is very time consuming and rather non-profitable at the beginning, but if well prepared, it can be very rewarding long terms in regards to the motivation of successfully running your own thing and generating greater profit than as an employee.

Job Positions:

Company founder, freelancer

Skills:

Self-management & orga, creativity, business understanding, networking, financial management

 

 Links with further information

Freelancer:  

Company Founder: 

 

Source: Gramlich, P., Bodewits, K. (2018). PhD! And, next? A guide for natural- and life scientists. Munich: NaturalScience.careers; https://en.wikipedia.org/wiki/Entrepreneurship  https://phdcareerguide.com/career-information/entrepreneurship/