Posts Tagged 'strategic objectives'

I don’t need Competitive Intelligence, I work for the Government!?

Recently I visited a BI-seminar where I exhibited on Competitive Intelligence basics. Afterwards I spoke to several people who wanted to discuss whether or not Competitive Intelligence would do them any good. Especially government or semi-government employees struggled with the necessity of CI in their particular situation. “We don’t have competitors” was one of the most heard phrases. Most likely that isn’t even true, but even if it is, I’d like to quote Seena Sharp here from her excellent book “Competitive Intelligence Advantage” where she explains the difference between competitor and competitive intelligence:

Competitive Intelligence – Think Big, Start Small (II)

In the previous post we investigated whether or not I should consider practitioning Competitive Intelligence in my restaurant ‘Chez Jérôme’. We designed a partial action plan based on my strategic goals and based upon that, I decided that it was most definitely useful to invest some time and effort (and scarce means) in CI. In this post I will focus on the next steps, now that we decided to go through with our Competitive Intelligence ventures. I will also address some tools that you can use to support your process, which are by the way not Competitive Intelligence tools because that is too big an investment for the size of my restaurant (see my post “The Synergy between Competitive Intelligence and Social Media” for my definition of competitive intelligence tools).

Competitive Intelligence – Think Big, Start Small (I)

When we hear success stories on Competitive Intelligence (or other related professions such as Business Intelligence), the companies in question often have mature CI systems in place, with lots of supporting software, contracts with (expensive) content providers or news sources and many CI professionals to support decision makers in their tough task of guiding their company through stormy weather. Of course that makes sense because these companies have much more visibility in the market than small companies, the stakes are higher and the struggle to beat competition is drawing more attention, especially when it is a publicly traded company. But that doesn’t mean that smaller companies with ditto budgets cannot gain serious advantage by practitioning CI. In fact I think the effect per invested coin of your choice may even be larger and CI may even be more vital for these companies. Let’s have a closer look at that in this post.