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Competitive Intelligence. An Introduction INLS 227 Fall 2002 Business Reference Sources and Services. Presented by Amy Davis, SILS, UNC Chapel Hill 2002. What is Competitive Intelligence?.

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competitive intelligence

Competitive Intelligence

An Introduction

INLS 227 Fall 2002

Business Reference Sources and Services

Presented by Amy Davis, SILS, UNC Chapel Hill 2002

what is competitive intelligence
What is Competitive Intelligence?
  • “Competitive Intelligence is a systematic and ethical program for gathering, analyzing, and managing external information that can affect your company's plans, decisions, and operations”

Source: Society for Competitive Intelligence Professionals

what ci is not
What CI Is Not...
  • Corporate Spy

Source: Society for Competitive Intelligence Professionals

ci and ethics
CI and Ethics
  • “Economic espionage represents a failure of Competitive Intelligence”
    • SCIP’s Code of Ethics states:
      • Professionals must accurately disclose their identity when soliciting information
      • Respect all requests for confidentiality
    • Good competitive intelligence uses publicly available sources:
      • Published information sources
      • Interviews
    • CI professionals can ethically discover information in a fashion similar to that of journalists and other researchers.

Source: Society for Competitive Intelligence Professionals

the goal why use ci
The Goal - Why Use CI?
  • Early Warning
    • Good competitive intelligence allows decision makers to prepare for changes in the market
    • Act instead of react

Source: Society for Competitive Intelligence Professionals

the ci cycle
The CI Cycle

Planning &

Direction

Feedback

Collection

Analysis

Dissemination

Source: Society for Competitive Intelligence Professionals

the ci cycle step one planning direction
The CI CycleStep One - Planning & Direction
  • Working with management to determine information needs
    • Develop effective communication, interviewing and presentation skills
    • Know the organizational structure, culture and environment
    • Know your internal and external capabilities
    • Conduct an information resource gap-analysis
    • Articulate findings about intelligence needs into the cycle

Source: Society for Competitive Intelligence Professionals

the ci cycle step two collection activities
The CI CycleStep Two - Collection Activities
  • Collecting information a legal and ethical manner.
    • Sources used:
      • Primary
      • Secondary
      • Internal
      • External
    • Must be able to ensure validity of sources
    • Recognize patterns and anomalies in information
    • Formal research skills are crucial

Source: Society for Competitive Intelligence Professionals

the ci cycle step three analysis
The CI CycleStep Three - Analysis
  • Interpreting data and drawing meaningful conclusions for recommended actions
    • Arguably the most important step in the cycle.
      • Raw data itself cannot usually contribute to key decision making and strategy

Source: Society for Competitive Intelligence Professionals

the ci cycle step three analysis1
The CI CycleStep Three - Analysis
  • Guidelines for analyzing data
    • Use inductive and deductive reasoning
    • Employ alternative and creative thinking
    • Be familiar with analytical models and know when and why to use them.
      • Ex. Risk assessment, Opportunity analysis and Trend analysis
    • Recognize gaps in information
    • Know when to quit!

Source: Society for Competitive Intelligence Professionals

the ci cycle step four dissemination
The CI CycleStep Four - Dissemination
  • Presenting key discoveries to management
    • Organize findings and convey them with assertiveness and diplomacy
    • Accentuate the positive
      • Cost savings
      • Competitive advantage
    • Modes of dissemination
      • Custom reports
      • Databases
      • Training seminars
      • Personal communications

Source: Society for Competitive Intelligence Professionals

the ci cycle step five feedback
The CI CycleStep Five - Feedback
  • Evaluating the response of management and decision makers is crucial to determining success of CI endeavor.
    • Be sure to capture all feedback to incorporate in future projects
    • Use this dialogue to determine future information needs.

Source: Society for Competitive Intelligence Professionals

competitive intelligence tricks of the trade
Competitive IntelligenceTricks of the Trade
  • CI Professionals use a variety of tools and techniques
    • Wargame Exercises: Use alternative competitive scenarios to test “what-ifs”
    • Patent Tracking: Reveal areas in which competitors are likely to make breakthroughs
    • Data mining existing information
    • Creating psychological profiles of key management figures in competing companies
    • Use trade shows and conferences wisely

Source: Society for Competitive Intelligence Professionals

competitive intelligence tools of the trade
Competitive IntelligenceTools of the Trade
  • Advancements in technology have improved efficiency and impact of CI programs
    • Corporate Intranets
    • Data management programs
    • Data mining programs
    • Text retrieval and classification
    • Patent searching
    • Still lacking in systems to analyze data

Source: Society for Competitive Intelligence Professionals

competitive intelligence sources
Competitive IntelligenceSources
  • Primary Sources
    • Internet
    • Financial Reports
    • Government Documents
    • Annual Reports
    • Speeches
  • Secondary Sources
    • Internet & Online
    • Edited TV/Radio Programs
    • Analysts’ Reports
    • Newspapers & Magazines

Source: Society for Competitive Intelligence Professionals

competitive intelligence sources1
Competitive IntelligenceSources

Source: Society for Competitive Intelligence Professionals

competitive intelligence who uses ci industries
Competitive IntelligenceWho Uses CI? - Industries
  • A 1998 survey showed that 82% of companies with annual revenues of more than $10 billion have an organized intelligence function
  • Top Industries with CI groups
    • Chemical/Pharmaceutical
    • Communications/Telecom
    • Computers/Hi Tech
    • Defense/Aerospace
    • Financial Services

Source: Society for Competitive Intelligence Professionals

competitive intelligence who uses ci internal customers
Competitive IntelligenceWho Uses CI? - Internal Customers
  • Competitive Intelligence is most utilized by the following departments:
    • Market Planning & Research
    • Research & Development
    • Business Development
    • Product Planning
    • Strategic Planning
    • Financial Planning

Source: Society for Competitive Intelligence Professionals

competitive intelligence where does ci reside
Competitive IntelligenceWhere Does CI Reside?
  • The Competitive Intelligence function can operate out of a wide variety of departments in an organization. Prominent examples include:
    • CI Department
    • Market Planning, Research, or Analysis
    • Strategic Planning
    • Information Center or Services
    • Business Development/Product Planning
    • Financial Planning

Source: Society for Competitive Intelligence Professionals

competitive intelligence project examples
Competitive IntelligenceProject Examples
  • Identification and assessment of competitors for start-up, niche consulting firm
  • Company information
    • Organizational
    • Financial
  • What’s the other guy doing?
    • Marketing efforts
    • Product release

Source: Society for Competitive Intelligence Professionals

competitive intelligence for more information
Competitive IntelligenceFor More Information….
  • Society for Competitive Intelligence Professionals
  • Educational Programs and courses
    • George Washington University
    • UCLA
    • Rutgers
  • CI Consulting Firms
    • Brief seminars

Source: Society for Competitive Intelligence Professionals

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