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Competitive Intelligence

Competitive Intelligence

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Published by Avayant Kumar Singh

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Categories:Types, School Work
Published by: Avayant Kumar Singh on Mar 19, 2010
Copyright:Attribution Non-commercial

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11/18/2012

WHAT IS COMPETITIVE INTELLIGENCE ?  The purposeful and coordinated monitoring of the Competitor(s) within the Marketplace.

 To gain foreknowledge of your Competitor s plan and to plan your business strategy to Counter vail their plan.  It involve * Tactical collection level. * Integration into existing info infrastructure. * Analysis and Distribution of info *Calculation of Business decision.

Competitive intelligence is an ethical and legal business practice, as opposed to industrial espionage which is illegal. The focus is on the external business environment. There is a process involved in gathering information, converting it into intelligence and then utilizing this in business decision making. CI professionals emphasize that if the intelligence gathered is not usable (or actionable) then it is not intelligence.

Competitive intelligence is the core of competitive strategy Questions that firm ask while implementing CI How do we most usefully define the company's mission, its strategic intentions, its objectives and its strategic choices? What do we need to know to develop and to select strategies which are not only successful, but sustainable? What new products should we build and which markets should we enter and how? How do we implement our competitive strategy?

GE understands its core competencies, and is able to achieve either first or second place in any of the diverse businesses it enters; if GE cannot be a leader in an industrial sector, it will divest itself of the business!

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