Fuld Competitive Intelligence Center Features Exclusive T. Boone Pickens Interview in May; Intelligence Advice From Oil Magnate: 'Don't Rush the Monkey.'.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 11, 2000
Whether he was spying with field glasses on a rival's drilling floor from half a mile away or attempting a hostile takeover, Texas oilman and entrepreneur T. Boone Pickens has relied on competitive intelligence for much of his success.
In an exclusive interview with competitive intelligence guru Leonard Fuld on the Fuld Competitive Intelligence Center (www.factiva.com) during the month of May, Pickens expounds on his career, which began with founding MESA Inc. in 1956, the United Shareholders Association 30 years later, and six new businesses, including the development of a quail habitat.
Pickens tells Fuld that the most important types of competitive intelligence you need in a business deal are: the history of the prospect, the risk reward, and advice from knowledgeable people.
"When you want to make a deal, you have a tendency to ignore some warnings that may show up," Pickens said. "Objectivity, or the lack of, has tripped me up. Patience is important. I sometimes say, 'Don't rush the monkey and you'll see a better show.'"
Reflecting on his long career, Pickens admits that attempting a hostile takeover after the Gulf deal was a mistake and that he now reaps enjoyment from businesses that reuse or more efficiently use natural resources rather than take from the earth. His latest venture is building a quail habitat, which entails cleaning up the air and developing water.
Asked what advice he would give to other entrepreneurs, Pickens said to focus on people, not technology.
"Be careful and hope you're a good picker of people. You will make some mistakes, but not much different than a football coach. It won't be technology; it will be the people that will disappoint you," he said. "Get more education than I did and then be patient and work your ass off."
The Fuld Competitive Intelligence Center provides business professionals, from managers to CEOs, with powerful company, industry and trend analysis tools that help them efficiently compile, evaluate and act on competitive intelligence and make timely, strategic decisions.
Factiva(TM), a leader in delivering and integrating global news and business information on corporate desktops around the world, launched Fuld's groundbreaking competitive intelligence resource in the award-winning Ask Dow Jones section of Dow Jones Interactive.
Each month, the site features an exclusive interview with a top CEO or other well known executive. The interviews, all conducted by Fuld, uncover each executive's competitive strategies, challenges and successes. Already featured have been Robert Crandall, the former chairman & CEO of American Airlines, and Herb Baum, president of Hasbro Inc. In June, the site will feature Chris Galvin, Chairman and CEO of Motorola.
Besides exclusive CEO interviews, the Fuld Competitive Intelligence Center offers a Competitive Intelligence Primer and an interactive introduction to competitive intelligence basics -- covering topics such as information analysis, research techniques, global information interpretation and competitive intelligence program organization. In addition, the site's Strategic Intelligence Organizer provides a complete checklist of information revealing the best competitive practices used by successful companies.
Fuld & Co. (www.fuld.com), a research and consulting firm, is an international leader and pioneer in the field of competitive intelligence. Founded in 1979 by Leonard M. Fuld, a recognized competitive intelligence expert, Fuld & Co. is based in Cambridge, Mass., and has affiliates throughout the world. The company's client roster includes more than half the Fortune 500.
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|Date:||May 11, 2000|
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