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British Medical Journal

Designing a Global Portfolio Strategy in a churning market

British Medical Journal
Client British Medical Journal
Region UK
Sector Media, Entertainment and Technology
Offering Organisation Design, Strategy
Board alignment Leadership alignment Operating model development Strategic narrative Strategy Target Operating Model (TOM) Values and behaviours

The Challenge

The arrival of fresh leadership at BMJ, the leading global Medical Publishing company, coincided with some long developing trends reaching the tipping point. The Group’s venerable and prestigious portfolio of journals, with diverse audiences, partners and product strategies, needed to find the most advantageous answers to multiple strategic shifts –including digital first business and commercial models, threatening ‘open platform’ competition, and changing needs across both customer and contributor groups.

We were tasked to help develop and agree new strategies at both Group and portfolio level, which would together enable the Group to sustain its core values, impact and quality while taking advantage of opportunities to sharpen competitiveness, realise potential value in the portfolio, and maintain relevance in a new era.

Our Approach

  • We supported the Strategy Director, CEO and leadership team to review and refresh the overall Group corporate strategy in line with the new leadership’s ambition, and to secure shareholder and Board support for the new direction
  • We analysed internal data, external thinking and internal inputs and feedback to determine the key impacts, implications and opportunities arising from the major disruptive trends in the market – and to baseline the Group’s responses so far
  • We helped the team develop a new Global Publishing Strategy, deciding on clear strategic priorities, overall commercial & market strategy responses to major trends, individual product objectives and how to reshape / consolidate the portfolio
  • We developed a new product portfolio architecture and strategic decision support approach, to enable the Group to continuously monitor, adjust and drive commercial performance as the market evolves further over the coming years
  • We designed the high level Target Operating Model needed to put the strategy into effect, and enable high performance, clear commercial accountability, and greater operational synergy across the business

Key Outcomes

  • Group corporate strategy revising the company’s values, strategy and impact in line with new leadership priorities and Group performance targets
  • Global Publishing Strategy reshaping the overall product strategy to bring greater coherence and focus to the portfolio
  • Target Operating Model for publishing to drive key performance areas, improve strategic flexibility and agility, and make best use of the Group’s scarce and expert people

What our clients say about us

“Q5 were dedicated, insightful and passionate about helping us find the right way through a complex set of strategic challenges. They worked closely with our team to make sure our strategies focused on our true priorities and reflected the actual realities of our business, and kept us focused on not just coming through an uncertain time, but finding ways to thrive and perform”

Chris Jones, CEO
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