Monday, May 09, 2022

What is competitive intelligence?

Competitive intelligence is a systematic program of analytical and intellectual process for gathering and analyzing information about competitors’’ activities and general business trends to further strengthening the future competitive position of the organization.

It is a management discipline that propels the decision maker to smarter more successful decisions, thereby minimizing risk, avoiding blindsided and getting it right the first time.

The traditional function of competitive intelligence has been to explain and predict competitor behavior in order to guide strategy.

The importance of intelligence is increasing for business. Competitive intelligence is often forward-looking, providing corporate strategic planners with potentials response scenarios of competitors to various strategic options.

Competence, technology and processes are the essential elements needed in the implementation of successful intelligence independent of what organization chosen to establish. It is also a continuous process undertaken as part of the overall strategy as well as an outcome.
What is competitive intelligence?

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