The blog tries to capture the irony represented by the ValueNotes research that almost all the CXOs feel that the economy and their industry will under perform; most feel that they can outperform their competitors because the fundamentals are good
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Examples of competitive intelligence failures and blind spots are cited to emphasize the importance and value of CI to an organization. A recent one is the failure of Blockbuster to see opportunity to take its business online – a blunder that cost it its very existence. In India one of the oft quoted example is I understand that competitive intelligence is important. But why are competitive intelligence needs always urgent? Most companies that approach us for intelligence, want it in a tearing hurry. That some kinds of tactical intelligence is often required immediately is understandable. Sales teams often need intelligence on potential customers and competitors very urgently when they are If I was asked this question only 5 years ago, I would have hesitated in responding. Competitive intelligence was “nice to have”, but few companies were ready to commit resources and budgets for it. I recently had the opportunity to interact with several senior CI practitioners from companies operating in various sectors such as IT, As a competitive intelligence professional in an emerging economy, documentation is my pet peeve. Business and economic growth in developing economies will be higher with greater transparency and information, all other things remaining unchanged. The argument is simple. Under-documentation is a big impediment to decision making. It makes informed decision making very expensive. This In the real world, it is impossible to have perfect information on the competitive environment, although that is what everyone would ideally like to have. In order to stay ahead of the game, senior managers are required to take fast decisions. They do the best they can based on whatever inputs they have available Ever played “20 questions”?* You win if you ask smart (the right) questions. Successful CI is a little like playing 20 questions. |
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