Comprising Of Interviews of 30 Competitive Intelligence Executives at 19 Companies, "Managing The Competition: Turning Competitive Intelligence Into Strategy" Is Right Up Your Street.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c81916) has announced the addition of Managing the Competition: Turning Competitive Intelligence into Strategy to their offering. Learn how top corporate competitive intelligence organizations use competitor data to drive strategy and market success. The secret to competitive intelligence (CI) success is rooted in the function's structure, effective communication and organizational empowerment. Specifically, it is a combination of formal CI operations and intelligent tools - with support from internal stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. - that serves as the key to developing a powerful CI team. To determine exactly how world-class companies proactively manage competitors, the author researched how top-flight competitive intelligence groups: collect competitive information, synthesize To create a whole or complete unit from parts or components. See synthesis. findings into critical action steps, disseminate dis·sem·i·nate v. dis·sem·i·nat·ed, dis·sem·i·nat·ing, dis·sem·i·nates v.tr. 1. To scatter widely, as in sowing seed. 2. data to key stakeholders and integrate recommendations into strategy to effectively manage competition. Comprising of interviews of 30 competitive intelligence executives at 19 companies, "Managing the Competition: Turning Competitive Intelligence into Strategy" takes an in-depth look at: structure, information gathering, communication and information use. This study will provide you with the tools to develop a leading-edge CI function and manage the competitive landscape to consistently succeed. Managing the Competition: Turning Competitive Intelligence into Strategy profiles a class of companies that demonstrate successful practices in their competitive intelligence functions. By studying these companies, your organization can gain a deeper understanding of how leading companies collect, analyze and integrate competitor information into strategy. After reading this report, you will understand how world-class companies structure CI groups, the key performance drivers used to optimize CI operations, the best methods to communicate competitive information and how companies turn competitive data into strategic decisions. This report identifies proven methodologies for improving corporate CI functions and transforming them from merely data gatherers to integral components of their strategic decision-making process. Performance metrics Performance metrics are measures of an organizations activities and performance. Performance metrics should support a range of stakeholder needs from customers, shareholders to employees [1]. enable executives to perform gap analyses and identify areas needing improvement. Metrics metrics Managed care A popular term for standards by which the quality of a product, service, or outcome of a particular form of Pt management is evaluated. See TQM. are an important complement to the qualitative best practices included in this study report. Best Practices, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control analysts collected and analyzed the following key findings and metrics: - Competitive intelligence groups structures - Staffing metrics - Reporting relationships - CI strategic impact - CI's impact on functional areas - Tools and techniques to convert competitive intelligence into strategies - Effective CI communication methods - CI training hours per year - CI skills and capabilities Key Findings The success of any competitive management group is a function of its operational processes and capabilities. Certain CI groups are better positioned to manage the competitive environment because of their structure, reporting relationships, collection tools, analytical techniques An analytical technique is a method that is used to determine the concentration of a chemical compound or chemical element. There are a wide variety of techniques used for analysis, from simple weighing (gravimetric) to titrations (titrimetric)to very advanced techniques using and skills and capabilities embedded Inserted into. See embedded system. within their core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
- The greatest strategic impact of competitive intelligence on managing the competition results from an empowered centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. structure, with decentralized de·cen·tral·ize v. de·cen·tral·ized, de·cen·tral·iz·ing, de·cen·tral·iz·es v.tr. 1. To distribute the administrative functions or powers of (a central authority) among several local authorities. function-specific groups - The competitive intelligence group's structure can be directly tied to the impact it will have on brand team strategies. The differences between a centralized CI group and a decentralized one vary in the effectiveness each has on managing the competitive environment. The report shows that centralized CI groups are better positioned to impact overall brand strategy, whereas decentralized groups are highly successful at affecting tactical initiatives. The ideal structure is a strong empowered centralized structure with function or brand-specific groups more closely aligned to those functional or brand teams. - Company-wide support for competitive intelligence is vital to the success of the group - The appropriate level of support is vital to the success of CI groups since multiple stakeholders must buy into the groups' recommendations to make the process valuable. Senior support is important to establishing legitimacy and importance, while sales rep support and trust is linked to gathering critical field-level data. One CI group established a competitive network to circulate cir·cu·late v. cir·cu·lat·ed, cir·cu·lat·ing, cir·cu·lates v.intr. 1. To move in or flow through a circle or circuit: blood circulating through the body. 2. competitive intelligence through the organization, collect competitive information from internal sources, and raise credibility and awareness of their goals and role. - Empower competitive intelligence groups to take a greater leadership role in developing and implementing competitive strategies - Embedding 1. (mathematics) embedding - One instance of some mathematical object contained with in another instance, e.g. a group which is a subgroup. 2. (theory) embedding - (domain theory) A complete partial order F in [X -> Y] is an embedding if a culture of competitive intelligence throughout the company encourages company-wide support of CI initiatives. Benchmark companies embed em·bed also im·bed v. em·bed·ded, em·bed·ding, em·beds v.tr. 1. To fix firmly in a surrounding mass: embed a post in concrete; fossils embedded in shale. CI capabilities throughout the organization by proactively pushing information out to users, establishing regular communication with groups, conducting informative seminars and by establishing reciprocal relationships with key stakeholders. With multiple departments supporting CI activities, competitive intelligence teams can leverage their influence to develop and implement recommendations to brand strategy. Content Outline: Executive Summary - Project Overview - Report Structure and Organization - Key Project Findings - Best Practice in Competitive Management - Best Practice Index Chapter 1: Structuring for Maximum Competitive Intelligence Impact Chapter 2: Optimizing Competitive Intelligence Capabilities Chapter 3: Communicating Competitive Intelligence Chapter 4: Turning Data into Strategy List of Charts & Exhibits Turn Competitive Intelligence into a Competitive Edge. Managing competitive intelligence is about understanding competition. It is about gathering information, using industry information as a source at the right time and turning the gathered information into winning strategy to reach business-specific goals. Strategy developed based on Competitive Intelligence gives a company its Competitive Edge. The comprehensive study report, "Turning Competitive Intelligence into Strategy," addresses industry-specific key questions on how to effectively manage CI and turn intelligence into strategy to achieve the best potential performance for the company. The report includes 15 in-depth case surveys and in-depth interviews with 30 top CI executives at best-in-class companies, such as AstraZeneca, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Merck, GlaxoSmithKline, Kodak, Eli Lilly Eli Lilly can refer to:
"Competitive intelligence continues to be an evolving function in many companies," said Best Practices Research and Publishing Manager Cameron Tew. "Those companies that implement effective strategies and processes for disseminating dis·sem·i·nate v. dis·sem·i·nat·ed, dis·sem·i·nat·ing, dis·sem·i·nates v.tr. 1. To scatter widely, as in sowing seed. 2. and analyzing competitive intelligence tend to have the greatest corporate impact." The report also serves as a guide on managing and implementing Competitive Intelligence throughout the company to achieve dynamic results. The report focuses on areas including: - Structuring for Maximum Competitive Intelligence Impact - Optimizing Competitive Intelligence Operations The variety of intelligence and counterintelligence tasks that are carried out by various intelligence organizations and activities within the intelligence process. Intelligence operations include planning and direction, collection, processing and exploitation, analysis and production, - Communicating Competitive Intelligence - Turning Data into Strategy Among the key findings in the report: - A centralized structure for your CI function can have the greatest strategic impact on managing the competition. "It boils down to how important strategy figures into corporate philosophy," a manager of new product development said. "You can focus on strategy or visions or on tactical execution. If you don't place value on strategy, then it will be hard to put CI in place" - Company-wide support for competitive intelligence is vital to the success of the group. "You have to have senior management air cover," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the associate director of marketing at one Top 10 pharmaceutical company. "You bring up things people don't want to hear. So, you have to have the mandate to do what you're going to do." - Empower competitive intelligence group to take a greater leadership role in developing and implementing competitive strategies. "At some point, you have to transition from having a corporate champion to becoming a culture in the company," said one competitive intelligence leader. "I've worked hard at not only doing good work but trying to get the concepts embedded into the company." Companies Mentioned: - 3M Pharmaceuticals - Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. - Amgen - AstraZeneca - Bayer - Boehringer-Ingelheim - Bristol-Myers Squibb Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were - Eli Lilly - GlaxoSmithKline - IBM - Immunex - Kodak - Merck - Pfizer - Proctor A person appointed to manage the affairs of another or to represent another in a judgment. In English Law, the name formerly given to practitioners in ecclesiastical and admiralty & Gamble Pharmaceuticals - Progress Energy - Roche - SAS - Wyeth For more information visit http://www.researchandmarkets.com/reports/c81916. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion