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Competitive Intelligence

Competitive Intelligence. Paula R. Davidson. Competitive Intelligence. What is it? Evolving assessment of an industry and the behavior of competitors within the network of environmental factors to develop a competitive edge. Competitive Intelligence.

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Competitive Intelligence

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  1. Competitive Intelligence Paula R. Davidson

  2. Competitive Intelligence What is it? Evolving assessment of an industry and the behavior of competitors within the network of environmental factors to develop a competitive edge.

  3. Competitive Intelligence • CI is only helpful if accurate and reliable information is stored, retrieved, and analyzed in a systematic and efficient way. • CI uses only information that can be obtained legally and ethically. • CI is used in training, mergers and acquisitions, restructuring, marketing, pricing, advertisings, R&D, and other ways.

  4. CI Starting Points • What information do you need? • Establish priorities • Assign accountability and responsibility – might involve additional training • Establish easy communication of information gained • Consider various resources

  5. Tools in CI • Government agencies, Online databases, Investment resources, Individual companies, Surveys and Interviews, Observations, Benchmarking, Defensive CI, Reverse engineering • Customers • Software, Commercial services • Web sites, Search engines, News groups, Subscription services, Publications, Networking

  6. Five Step CI Program • Define Requirements • Collect and Organize • Analyze • Report and Inform • Evaluate

  7. CI Profiles • Build Competitor Profiles • Identify Competitor Strategies • Competitor Reaction Profiles

  8. Is CI Worthwhile? • Cost Versus Benefit • The Value of Knowledge • The Cost of Knowing • Calculating Return on Investment

  9. CI Advice from the Experts Leonard Fuld – author, pioneer, founded consulting firm Fuld and Company in 1979 • http://www.dejanews.com – tracks online discussion groups, road map to strategies • http://patents.ibm.com - archives 2 million patents • Profiles! – bios, articles of top managers • Job Postings – CareerPath, Monster, others • http://www.newslink.org and http://www.newsworks.com – searches local papers where companies are headquartered, often reporting more details more frequently – Look locally! • Home pages

  10. CI Advice from the Experts Marc Friedman – Manager of Market Research at Andrew Corp. • http://www.corptech.com – info on 45,000 high tech companies; 170,000 executives • Search Engines! – www.excite.com • Worth paying for – http://www.firstcall.com and http://profound.com • Home pages

  11. CI Advice from the Experts Tracey Scott – past President of Society of Competitive Intelligence, founded MindWorx Group • Conference proceedings – companies put their best people forward, people information is better than secondary information • http://www.altavista.com and http://metacrawler.com • Home pages, but be wary – companies post the most optimistic notions • Social news – Look Locally!

  12. CI Advice from the Experts Edee Edwards – electronic-library specialist for Pacific Northwest National Laboratory • Search engines are sporadic – don’t take no for an answer • Worth paying for – industry databases http://stbeasy.cas.org for Science and Technical Information Network

  13. Reverse Tools in CI • Phantom Interviews • False Flag Job Seeker • Seduction

  14. Competitive Intelligence • Knowledge encompasses: competitors, technology, legal and regulatory changes, suppliers, materials, industry and market trends, political and economic changes.

  15. Competitive Intelligence Conclusion • Create Plan of Attack • Explore and implement appropriate tools • Effectively manage your information assets • Continue to evaluate and evolve • Think creatively

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