saurabh mahajanPMP, ITIL, PRINCE2| vodafonePune, Maharashtra, India
Hello All,
Do you take into consideration Competitive Intelligence before making strategic decisions for your organizations or for that matter in project management ?
If yes, then would like to know your approach and implementation of the same. Saving Changes...
Let we start with the definition of Competitive Intelligence.
It’s the process of ethically collecting, analysing, and disseminating accurate, relevant, specific, timely, foresighted and actionable intelligence regarding the implications of business environment, competitors, and the organization itself.
Why Intelligence?
Intelligence is usually ahead of its time, and exploits analytics pertaining to past behavior for provision of much required insight into course of events.
Categories of Competitive Intelligence:
Market Intelligence This highlights acquisition and analysis of information pertaining to trends, geopolitical issues and regulations in a firm’s market.
Competitor Intelligence This involves monitoring and analysis of key competitors, budding competitors, new competitors and probable competitors.
Partner Intelligence This involves keeping tabs on every individual and organization that has a form of value network with the value chain of a particular firm.
Customer/Prospect Intelligence This embraces continuous identification and analysis of demographic factors, budget cycles, key internal influences and key focus areas of customers/prospects.
Technical Intelligence It entails examining every accessible research and development report and allied technical application in order to keep track of competitive technical know-how, make out business alternatives, and generate appropriate and well-timed warning signal to decision makers.
Three Types of Intelligence: ?
Recurrent Intelligence: It’s done to be abreast with activities and is not connected to a specific strategic or tactical decision. ?
Reference Intelligence: It’s used as groundwork for specific strategic or tactical decision and regularly demanded. ?
Strategic Intelligence: This encompasses broad spectrum of issues and is classically structured to a specific strategic decision.
How does CI improve Business Performance?
Lessens costs
Boosts sales
Captures alliance opportunities
Discover gainful acquisition prospect
Clamps down on competitors’ profits and sales
Enhances defensive strategies
Improves organizational agility
Achieve first-class status for higher prices
Provides leverage for outwitting performance barrier Saving Changes...
saurabh mahajanPMP, ITIL, PRINCE2| vodafonePune, Maharashtra, India
WOW !!!!
That was awesome post Sameh. You actually increased my knowledge on CI. This will help me in studying it much deeper.
Thanks Saurabh for the question and THANK YOU Sameh for such an insightful post. We do consider CI in some of it's form. The way you have elaborated has given more viewpoints to consider. Saving Changes...
saurabh mahajanPMP, ITIL, PRINCE2| vodafonePune, Maharashtra, India
Just a query on this
Can we apply CI (by project manager) for internal projects ? Here we can see what best practices are applied by other projects? What hurdles they are facing ? How company policies are impacting them ? etc etc Saving Changes...
