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Digg It - Management Consultancy Interviews - Planning To Succeed
The following article arose from discussions between Mindbench and its clients about where candidates go wrong in interviews. This prompted us to carry out a qualitative survey with clients, candidates, HR personnel and recruitment consultants involved in the management consultancy sector to establish some of the ke
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
y skills and major pitfalls of ...
Recruitment is buoyant - so is the number of candidates
The current market for recruitment at management consultancies is highly bouyant – indeed it appears set to reach record levels this year. However the competition for these positions is still intense, with record numbers of
Recruitment is buoyant - so is the number of candidates
The current market for recruitment at management consultancies is highly bouyant – indeed it appears set to reach record levels this year. However the competition for these positions is still intense, with record numbers of
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
BAs looking for work in the sector! There are over two hundred applicants for every role in strategy consulting - the vast majority of these will be screened out at the C.V. stage and go no further – but if you do get through to the interview stage the following advice may prove highly valuable.
Understand whom you
Understand whom you
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
are applying to
A significant skill-set in consultancies of all types is research – and the less published information available the more important consultants become to their clients – and the more these skills are tested. It is very important that you don’t waste time in the interview room – also that you display
A significant skill-set in consultancies of all types is research – and the less published information available the more important consultants become to their clients – and the more these skills are tested. It is very important that you don’t waste time in the interview room – also that you display
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
a genuine interest in the company and it’s work – good research is the key! Research the company on the internet – not only on their own website, but follow any links they may give, search press articles, industry associations and look at their clients’ sites. Try to fully understand what type of work they do and w
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
at is it like to work for them. Know which industries and sectors they operate in and who their major clients are. Never be afraid to pick up the telephone and ask other people’s opinions. Talk to anyone who has worked in the sector or ideally at that firm! Again, a good recruitment consultant should be able to pu
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
you in touch with such people.
As in life – it is all about selling! In this case you are there to sell yourself into the consultancy – make it easy for them to hire you! Show them how your qualifications, qualities and experience will match and enhance their own – but you can only do this successfully if you und
As in life – it is all about selling! In this case you are there to sell yourself into the consultancy – make it easy for them to hire you! Show them how your qualifications, qualities and experience will match and enhance their own – but you can only do this successfully if you und
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
erstand what they do and who for. Corporate culture has become more important in recent years and consultancies in particular have embraced this idea. Again their website should furnish you with a good overview of how they see themselves as a work-environment – but remember, this is how the like to see themselves.
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
Speaking with a current or former employee will give you a better insight.
The ideal candidate
First of all we discussed the key characteristics that a candidate should possess and - crucially - be able to demonstrate during the interview process:
• Strategic thinking - is this candidate able to think in term
The ideal candidate
First of all we discussed the key characteristics that a candidate should possess and - crucially - be able to demonstrate during the interview process:
• Strategic thinking - is this candidate able to think in term
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
of strategic direction?
• Analytical rigour - does this candidate think in a logical, methodical way?
• Mathematical ability – does the candidate have the mathematical aptitude to cope with financial modelling, understanding of statistical analysis, corporate financial reporting etc
• Commercial awar
• Analytical rigour - does this candidate think in a logical, methodical way?
• Mathematical ability – does the candidate have the mathematical aptitude to cope with financial modelling, understanding of statistical analysis, corporate financial reporting etc
• Commercial awar
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ness - is this candidate able to think in terms of pricing, competitive environment etc?
• Intellectual curiosity - is this candidate sufficiently curious to go beyond the surface and seek out the detail and underlying reasons?
In addition to identifying these specific qualities a number of less tangible
• Intellectual curiosity - is this candidate sufficiently curious to go beyond the surface and seek out the detail and underlying reasons?
In addition to identifying these specific qualities a number of less tangible
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
facets were mooted. These are traits that a consultancy would ideally like all it’s consultants to have, but are rather more difficult to identify or display:
• Drive – has the candidate demonstrated the necessary levels of drive and ambition so far in their career?
• Focus – can the candidate demonstrate
• Drive – has the candidate demonstrated the necessary levels of drive and ambition so far in their career?
• Focus – can the candidate demonstrate
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
the ability to ignore distractions and follow the main thrust of a project?
• Ability to manage people – has the candidate shown a willingness/ability to manage others, in any environment? This can be managing down (staff, subordinates), managing colleagues or managing upwards
• Commitment – is there a wi
• Ability to manage people – has the candidate shown a willingness/ability to manage others, in any environment? This can be managing down (staff, subordinates), managing colleagues or managing upwards
• Commitment – is there a wi
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
lingness to work long hours and under pressure
• And finally, “Depth of character” – this last trait proved the most difficult to define.
The following quotes from Consultancy Recruitment Heads were inciteful in summarising their views:
“As long as the candidate is reasonably intelligent and willing
• And finally, “Depth of character” – this last trait proved the most difficult to define.
The following quotes from Consultancy Recruitment Heads were inciteful in summarising their views:
“As long as the candidate is reasonably intelligent and willing
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
to work hard we have in place training plans and mentoring systems that will enable us to pass on all the skills our consultants need to fulfil their roles – the one thing that you cannot teach is character... and it’s probably the most valuable trait of all!”
“How do you recognise it in interviews? We look at th
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
prepared responses that candidates give to the more predictable questions, and we also try to ask them some questions they won’t be prepared for! But ultimately - you know it when you see it!
Successful interviewing
It is in the consultancies’ interests to allow you an opportunity to sell yourself to them. They
Successful interviewing
It is in the consultancies’ interests to allow you an opportunity to sell yourself to them. They
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
want you to be able to demonstrate your qualifications, your abilities, your enthusiasm and – to some extent – your personality!
You need to be able to do this effectively and efficiently – so BE PREPARED!
Preparation will allow you to speak fluently about whichever facet you are called upon to discuss – as well a
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s talking about yourself and your achievements in a structured and logical manner. These are all highly attractive abilities in a consultant!
The best way to prepare for this is PRACTICE!
• Think about the questions you are likely to be asked
• Search on the internet and in libraries for further exampl
• Think about the questions you are likely to be asked
• Search on the internet and in libraries for further exampl
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
s
• Talk to the recruitment consultant or the interview co-ordinator
Work out some answers to these questions that allow you to show your best qualities and highlight your achievements. We would also highly recommend that you practice answering these questions out loud. Find some friends or colleagues an
• Talk to the recruitment consultant or the interview co-ordinator
Work out some answers to these questions that allow you to show your best qualities and highlight your achievements. We would also highly recommend that you practice answering these questions out loud. Find some friends or colleagues an
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
arrange to spend some time asking each other interview-style questions and listening to responses. Discuss your own and others performance – there is no substitute for ‘performing’ in front of other people!
The ultimate goal in these situations is a difficult balance to achieve:
“Be prepared - sound spontaneous!
“Be prepared - sound spontaneous!
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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