|
Developing CI Strategies
When
conducting a competitive review, there can be several intelligence
topics to be explored, an exorbitant amount of information and sources
available and the end users may become overwhelmed if there is not
a primary focus to your research. Initiating a competitive
review requires one mandatory step. The direct need for the competitive
review needs to be defined - what specific questions are to be answered
to serve the needs of decision makers? If this is not done,
the CI effort may prove to be worthless. Successful
Competitive Intelligence requires acquisition, analysis and interpretation
of information to meet the needs of the decision maker. Always
formulate the CI objectives first.
Presentations
1)
Introduction to Competitive Intelligence
Click
here to view a brief introductory presentation on Competitive
Intelligence.
2)
Conducting a Competitive Review
Click
here to view a presentation on the steps used in the review.
3) Analyzing
Competitive Forces Using Michael Porter's "Five Forces"
Analysis
Introduction
to Michael Porter's
Five Forces Analysis
4) Preparing a
S.W.O.T. Analysis
Click
here to view a brief introductory presentation on preparing a
Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis
- which is a great foundation for Competitive Intelligence Activities.
NOTE: These presentations are in PowerPoint.
If you do not have PowerPoint installed on your computer click
here to download a free PowerPoint Viewer from MicroSoft.
There
are 6 Steps in the Basic CI Process
- Planning – at the strategic,
tactical and operational levels. CI coordination and integration
is key. Learn More>
- Identification and classification
of competitors – current and future potential competitors. Learn
More>
- Define Intelligence Requirements
- focusing on needs (vs. wants) and a specific outcome you want
to achieve. Learn More>
- Determine how your results will
be credible, trustworthy and actionable by decision makers.
- Develop a systematic intelligence
collection and analysis capability then gather intelligence developing
competitor profiles with "apples-to-apples" comparative
benchmarks.
- Establish two way communications
between the CI analyst and the users of the information. Disseminate
and explain findings and make necessary adjustments to intelligence
requirements and begin Step 3 again.
Then, by defining the needs of the research, the competitive review
strategy can then be structured. Depending on the needs, some strategies
and tactics may entail:
- Operational review: A review of the organization's
operations to determine what is actually known about the competitors;
their people, their operations, strengths, weaknesses, opportunities
and threats.
- Products and Services Review: Determination
of a company's products, services, points of differentiation,
pricing, benefits, features, methods of production and distribution.
- Alliances: Research into partnerships, vendors,
technology solutions, and platforms.
- Competitor Matrix: Development of a list of
companies with products and capabilities in the same industry
sector containing similar attributes. Consider applying the Market
Effectiveness Capabilities Assessment (MECA) methodology developed
by Jean-Claude Larreche in his Competitive Fitness of Global Firms
initiative at INSEAD.
Learn More>
- Compilation of surveys/overviews of trends:
Interact with marketing and sales people to obtain their views.
- Acquisition of facts: figures and financial
data.
- On-site observations
- Analysis and recommendations: the most important steps!
Download
a Whitepaper entitled: "Using Sales and Marketing Intelligence
to Improve Performance".
Words
of Wisdom
"Plans
are nothing; planning is everything."-
Dwight D. Eisenhower
If you have
any suggestions, comments or questions, please contact The
Competitive Intelligence Center.
|
