Is corporate strategy easier to survive than consulting?

Hi there,

1) What should I pay attention to in order to survive? 

Possible activities you may consider before joining are:

1. Learn about the company and industry on your own with self-studying
2. Organize networking lunches with current employees (ideally alumni of your university) to learn more about your employer

Below you can also find some tips for the first weeks I usually recommend – you are probably familiar with most of them, but it may be good to review them:

1. Take notes during meetings/discussion with your manager – this will help you to remember details and will show you care about them to the team.
2. Always double-check. The first impression is very important when you join a new company: if you show you are reliable from the beginning, you create a reputation of a reliable person. Double checks should be done on expectations for your job, your Excel analysis, your slides – basically everything.
3. Define priorities before starting any set of tasks. The majority of the results usually come from a subset of activities – this is true also for your tasks in consulting. You have to identify which they are and prioritize them – the application of the so-called 80-20 rule or Pareto Principle. Alignment on priorities and expectations is particularly important with your manager at the beginning of the project.
4. Socialize with your colleagues and start to build a network. You should build a good network within the company. A good start is key to develop good relationships long-term. More difficult to do during COVID – but there may still be opportunities for virtual gatherings. Try to take advantage of as many as possible to build connections.
5. Organize your private life activities. You want to organize your calendar to leave some space for personal activities (sport/ friends/ family). This is not easy but can be managed if you organize well, and long-term will be critical to keep a balance between work and private life. Also, it is better to align with your manager/teammates from the beginning on your core needs, so that there are no surprises later­ on.
6. Ask for feedback every two-three weeks – this will show you are proactive and willing to learn.
7. Ask for help when you don't know what to do – better to let know you are in trouble with meeting a deadline than missing the deadline.
8. Be social and respectful with the support staff – these people are great and influential as well in the company.

2) And is corporate strategy easier to survive than consulting?

In theory it should be less demanding but it depends on the company. It would still be good to try to understand what you could improve given the feedback you received before in consulting and work on that.

Best,

Francesco

Why are you approaching this in terms of “survival”? How are you going to enjoy what you do ? Consulting didnt work out for you..not a big deal. Its not for everyone. Take some time to reflect and pay attention to all the things that worked well and that didnt work well. Learn from this and put it into practice.

Corp Strat in Start-up will have different set of challenges. No job is perfect and will have its ups and down. Please have a look at this article where I provide plenty of tips and guidance on career moves and choosing between firms. I hope this provide some clarity to you- https://www.preplounge.com/en/articles/how-do-i-know-which-career-is-right-for-me

All the best.

Hi there,

In general, internal strategy is significantly less demanding than consulting (by its very nature). However, this rule applies more to large institutions.

Tech startups are known to be particularly scrappy/hardworking - I do not know your tech startup, but you do need to investigate the culture and work ethic of the firm in order to better understand how intense it will be.

In Corporate Strategy its critical to know the company and the business well. The faster you become a specialist in the business and the organization, the faster you will become a valuable resource. 

Unlike in consulting, where in ~6 months you become knowledgeable enough to perform well in a subsequent project in the same area, here it takes a bit longer, because the level of specialization required is much higher. 

You will also have to live much longer with your own mistakes. If you build a good reputation with your counterparts, that will help you a lot as time goes by. Working well with the “client” is even more important. Becoming good at “client” interviews, workshops, presentations, getting buy-in, supporting decision making is paramount.

On the other hand research loses some importance (usually relevant sources are known, and you resort more to internal knowledge and to the knowledge you build over the years… and research is frequently more about knowing WHAT information exists in the organization and WHO has it). “Recycling” previous project analysis is also relevant. In other words, research is now KNOWLEDGE MANAGEMENT.

Analytics loses some relative weight as well.

One other different aspect is that you don't need to be 100% bullet proof on everything. And this changes how you manage projects. In consulting, you go 100% ready with multiple backups to deal with objections. In internal consulting, sometimes you can leave those backup analysis to a later stage (and you only do them if you really need them). There is also more flexibility to change or even cancel a project, if your findings support that course of action.

Hope this helps!