The sheer complexity of the inner workings of a life sciences company makes change—micro or macro—a challenge. As a result, hiring a management consultancy is often a consideration for companies facing change.
When the right consultancy is brought in, the scale of organizational transformation that can be achieved is nothing short of impressive. Unfortunately however, the right management consultancy isn’t always hired.
We talk to a lot of companies that are reticent to bring in outside help. And it’s no wonder, when the consequences of hiring the wrong consultancy often include ineffective processes and reduced efficiency, not to mention high cost.
In order to dispel any unnecessary concerns, and to discuss the necessary ones, we’ve written this blog with the purpose of helping you make an informed decision when hiring a management consultancy.
Misconception 1: The same results could be achieved using existing internal resources
This is a common misconception amongst those who have little to no prior experience with business transformation, or who have relatively tight budgets.
What companies need to recognize however, is that attempting to implement business change using existing team members is unlikely to be as effective as bringing in outside expertise. Your existing team members are experts in manufacturing and getting your product to market, not improving business processes and solving efficiency problems.
Moreover, their time would be split between keeping the ‘lights on’ and fixing the problem—a recipe that rarely produces the results you’re after.
At Enterey, years of experience has taught us that business transformation and strategic realization requires dedicated thinking and resource.
Working with a management consultancy like ours means you have a team of experts who are entirely dedicated to seeing the ‘bigger picture’ in order to develop and implement solutions that get you to your goals.
Misconception 2: Management consultants won’t take the time to understand the business, and will simply implement a ‘one-size-fits-all’ approach
This ‘misconception’ is actually rooted in some truth. Sometimes bigger management consultancies do implement ‘best practice’ solutions, simply repeating processes that proved successful in other companies rather than investigating the individual needs of the current company.
The problem is, when this approach is taken (one that isn’t molded to the unique requirements of the company in question) details that are vital for sustained success get missed.
One of the benefits of working with Enterey, which eliminates this problem, is that we don’t parachute in or operate from afar. We take the time to get to know your business and the people who make it work before we start strategizing or implementing new processes. This ensures that the changes we bring about work not just now, but long into the future.
Misconception 3: The life sciences industry is complex, and a management consultancy won’t ‘get it’
One could argue that there are few other industries as complex and intricate as the life sciences industry. Because of this, many life sciences companies fear that cross-sector management consultancies simply won’t have the insight and experience needed to help it achieve its goals.
These concerns are valid—it’s like asking a general surgeon to perform your heart surgery… What if you could have a cardiothoracic surgeon do it instead?
The peace of mind brought about by their expert knowledge and first-hand experience would be invaluable. And it’s the same for your business.
With Enterey, you’re getting the specialist you need.
We only work in the life sciences industry, which means we’re able to focus on the challenges and issues that are unique to the sector, and truly understand how to overcome them.
With over 15 years’ experience reducing risk, improving efficiency, and implementing change for life sciences companies, we definitely ‘get it’.
Hiring a management consultancy to help you through a change process can be a daunting prospect. After all, you and your employees will have to work closely with them for however long the process takes, and they will have access to private/sensitive information.
It’s therefore incredibly important that you hire the right management consultancy for you. If you’re looking for an experienced, specialist consultancy to drive your life sciences company towards its goals, get in touch with our CEO, Mike on email@example.com.