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In most companies in India, competitive intelligence is not primarily done by CI professionals. Many functions are interested in competitive intelligence. Sales, marketing, strategy, product development, are the common ones. But finance, HR , procurement and others also need it. They all generally gather competitive information as part of their regular functional roles . The Topple rate is a measure that a McKinsey consultant devised in 2007. It measures the rate at which companies lose their leadership position or switch ranks. The ranking in this context is done on the basis of return on assets (ROA). For example, if the topple rate is 40%, it means that if you an Most companies undertake annual strategy planning exercises (STRAP) to lay down the plan for the coming year. They undertake market/business research and competitive intelligence to support their planning. Some of this research is backward looking – How much did the market grow last year? What did my competitors do? Some research is forward looking – Any businessman will tell you that knowing how your competitors sell their wares and at what prices is simply good business practice. But how do you get this information? Is it Ok to do mystery shopping? As in all other aspects of business, while (most times) there is clarity on what is legal and what All businesses everywhere undertake some kind of CI; they cannot survive without it. Even mom and pop stores do – although very informally. In India, it is mainly the large companies and multinationals that have formal competitive intelligence activities. How do they decide how much formal CI they should do? Here are some observations.. CI The banking, financial services and insurance (BFSI) sector is the largest consumer of Indian IT services. In 2011 BFSI contributed almost 50% to the $60 billion IT exports market. Appeal of low infrastructure costs, highly skilled IT workforce and higher profit margins keep bringing business from global BFSIs to India. For over a decade they |
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