“Engaging in digital ecosystems requires a new set of managerial skills and capabilities. How quickly companies develop them will determine if they succeed in the ecosystem economy.”

This Week’s Must Read comes from an insight piece from Mckinsey, in which the consultants discuss the need to change traditional management approaches in face of the ecosystem economy and how companies can build an effective ecosystem strategy.

Read the full article: “Management’s Next Frontier: Making the Most of the Ecosystem Economy”, written by Jürgen Meffert and Anand Swaminathan.

• Cognizant To Acquire Netcentric For Digital Marketing: Cognizant is acquiring Netcentric and UK digital agency Zone to dramatically build up its digital marketing offerings in Europe. | Donovan Jones, Seeking Alpha
• Brexit’s impact on talent could hit UK’s £7billion consulting sector: The UK’s management consulting sector, which grew four times faster than the economy in 2016 (up 7.5 per cent to £7.3bn), could be hit by talent shortages because of Brexit. | Top Consultant
• Iran’s $850 Million Consulting Potential: Significant opportunity is seen present in the Iranian consulting sector, which is estimated to have a potential worth up to $850 million. | Financial Tribune
• Consulting in the Age of Disruption – MCA Annual Report 2017: In its Annual Report 2017, the MCA (Management Consultancies Association) examines the revolutionary changes impacting the consulting industry and its clients. | MCA Press Releases

• 5 Success Factors for Effective Participation in Global Data Synchronization (GS1/GDSN): Companies that perform better are those that invest in supporting business processes, data governance, internal data structures and external data collaboration. | Bhavana Jotwani, Camelot Digital Excellence Blog
• Agile is Not the Same as Agility: Agility only comes through the thoughtful design of vertical and horizontal structures, governance forums and practices, and clear decision rights. | Kates Kesler
• Design A Digital Procurement Transformation Plan: Procurement organizations must begin their journey without delay. From culture to IT systems, through to governance and supplier relationships, the time to act is now. | Oliver Wyman
• Rethinking Design to Maximize Margins from New Products: DfX offers an alternative development strategy that leverages the expertise of all design and manufacturing stakeholders. | Adrienne Trangle-Pelleg, Tefen

• What Consulting firms Have to Solve to Win at Advertising: Consultancies may want to replace agencies at the head of the advertiser’s table, but industry wide fears of that happening anytime soon are overhyped. | 4-traders
• Top Business Frameworks for Management Consultants: Framework allows consultants to address a client’s business issue in an organized, thorough, and efficient manner. Learn about Business Frameworks. | David Tang, Flevy

• Interview Hacks: Explaining Porter’s Five Forces: Do you know about Porter’s Five Forces? Or do you need a little review? Check out this article to learn how to apply this model to specific scenarios. | Vault Blog
• How to Break Into Consulting: Insights from three consultants in different fields on how you can make it in the consulting world. | The Muse Editor