What is Management Consultancy in Practice?
Management Consultancy in Practice is part of the MSc in Entrepreneurship and Innovation programme. It provides an opportunity for students to tackle real challenges faced by established organisations. At the beginning of the course, students receive project briefs from various companies containing background information, problem statements and a project scope. Based on this information, the students are asked to select their preferred companies before groups of four or five students are formed and assigned to become the consultant team for each client company.
My Client Company
Infix Support Limited is a clinician-led, cloud-based technology company developed to tackle today’s unique healthcare needs. Infix is a start-up company that was established 3 years ago by CEO Matt Freer, an anesthetist, who wished to create a tool that would optimise theatre utilisation in hospitals by making the scheduling process more efficient and user-friendly.
Following a successful launch with NHS Lanarkshire, Infix: Schedule is currently being trialed with Lothian NHS, soon to be adopted by Forth Valley. There is also a second product called Infix: Preop, which is a cloud-based product integrated with patient record systems to streamline the pre-operative assessment process and allow remote patient access.
Our Project Scope
The objective of our project was three-fold: i) to take stock of Infix’s current position in the industry with regards to existing and new competitors; ii) to identify emerging trends in the healthcare industry and: iii) to formulate effective strategies to grow the business.
To achieve these objectives, both our student team and the client had to agree on specific deliverables. This included conducting a SWOT analysis, developing a report on emerging industry trends within a 2 to 5-year timeline, determining marketing best practices, and providing recommendations for market entry strategies in the United States.
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My Consulting Experience
Speaking to my student consulting team, it is clear that many factors helped to make this project a success. For example, the way each member focused on a specific aspect within the project ensured our team worked efficiently. Jamie Law said, “My role was to provide insights into emerging trends in Infix’s sector, focusing on their unique selling points. It was inspiring to see how the team embraced the challenge of developing products that can scale in a heavily regulated industry.” Cynthia Fernandez said, “My role was to conduct a SWOT analysis and evaluate the potential impact internal and external factors may have on the company. This hands-on experience allowed me to apply the theories and concepts I’ve learned throughout the course to a real-world setting.” The consultancy project also allows for collaboration between businesses and students to form a relationship that spans beyond our University experiences. Jamie said, “Now I look forward to following Infix’s continued growth and success in the future!” Others in the team reflected on the value that participating in this project will add to their future careers. Christine Gunawan said, “The consultancy project offered by the University of Edinburgh Business School is a major reason to apply for the MSc in Entrepreneurship and Innovation programme. The experience has been extremely positive, and will make me stand out in job applications within the consulting industry.”
Personally, I think anyone who wishes to pursue a career in consulting would benefit from this course. I enjoyed sharing experiences with other student groups about the challenges they faced when working with their clients and, through these discussions, we discovered multiple approaches to help build trust and negotiate effectively. One lecture even included a panel discussion with industry experts to provide us with tips on how to succeed in our consultancy projects – we felt thoroughly supported from beginning to end. The overall experience was extremely helpful to develop lasting skills for my future and I highly recommend it to other students.
Pik Tze is an MSc Entrepreneurship & Innovation student (2022-23)