consulting, Competitive Intelligence
Competitive Intelligence is a structured business process to collect information and produce insights on your competitors to meet the short and long-term planning needs of the organisation. Its most frequent application is to either develop or fine-tune strategies and plans. Typically Competitive Intelligence is structured around an 'Intelligence Cycle' and contains five components: Planning, Research, Analysis, Dissemination/ Action, Feedback. It is a cycle because of the feedback loop, ongoing competitor monitoring, the steady flow of customer requirements and incoming competitor information.
In a period of Super Competition companies should strengthen their CI capabilities. Competitive Intelligence can provide early warning of new competitive threats, assesses the competition's likely response to new strategy options, and helps protect the company's margins and market share. Fine- tuning strategies and business critical activities can define the margin between success and failure.