below is a mckinsey analysis of my possible career options. a mckinsey or GE matrix is a common marketing strategy tool that plots the strength of a product versus the attractiveness of the market. if two or more products are placed in one matrix, then you have a business portfolio analysis. in an oversimplistic sense, it helps identify products with a competitive edge, although we know the real world is full of variables that we cannot control.
let's just say that biostat, pedia and radio are three options out of the many. now i won't deny nor confirm that these three are my top considerations, but i thought that it'd be easier to contrast the difference between pediatrics and radiology doctors, and as well as someone involved in research. also, i know for a fact that these things tend to change, so i'll just cross the bridge when i get there.
the size of the circle dictates the perceived market size, and the size of the pie is the perceived market share. the arrows indicate the perceived direction of each entity in the future.
doing pedia in my province is a no-brainer; there are a lot of pedia patients, and the current inverted demographic pyramid of our population just tells me that more adults in the future will bear more kids.
doing biostat is a different matter, since there are fewer slots in the academe or government, but being good at a specific skill that only 5% of all current medical students are even considering as their future career will expand the market size considerably.
radio is a rather contentious area; technology will likely push the supply-demand curve forward, but will your personal market size increase? probably not, even in the provinces, where even a small number of radiologists are capable of providing their services to multiple hospitals; they're an efficient lot.
i realized that the mckinsey matrix is useful in plotting the complexity and in elaborating the variables involved, but it does not provide a ready answer. this is also true with regards to other market strategy tools. it is always up to the market strategist to decide whether to divest the concept entirely, to focus on a niche market, to further differentiate the product, or to think out of the box and innovate new ideas.