Building and Sustaining Winning Competitive Intelligence Organizations
In today’s fast changing business environment, the competitive intelligence organization can play a vital role in corporate success by helping companies anticipate and deploy strategic responses to external threats and opportunities. CI, however, is a relatively new corporate function, is often not fully understood, and is often underdeveloped and undervalued.
This study can help executives learn how top corporate competitive intelligence organizations use data to drive strategy and market success. To determine how best-in-class companies proactively manage their CI functions to sustain efficiency and profitability, Best Practices, LLC researched several major topic areas: (1) creating and communicating CI value, (2) optimal structure and alignment, (3) resource levels, (4) key primary and secondary intelligence.
Best Practices, LLC completed this study in two phases involving a total of 54 different companies representing more than a dozen different industries. Each phase involved a survey instrument as well as separate in-depth telephone interviews with selected CI program executives. Surveys were focused on collecting quantitative data, while interviews collected qualitative data and management insights.
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Industries Profiled:
Biotech; Pharmaceutical; Aerospace; Banking; Financial Services; Computers; High Tech; Insurance; Manufacturing; Consumer Products; Health Care; Telecommunications; Professional Services
Companies Profiled:
Amgen; Sanofi-aventis; Boehringer-Ingelheim; Boeing; Centocor; Citigroup; EDS; Eli Lilly; Fidelity Investments; IBM; Kraft; Merck; Motorola; Novartis; Procter & Gamble; Raytheon; Roche; Rockwell Collins; Shire Pharmaceuticals; Takeda; Trane; Weyerhaeuser; Wyeth
Study Snapshot
This research is focused on several major topic areas: (1) creating and communicating CI value, (2) optimal structure and alignment, (3) resource levels, (4) key primary and secondary intelligence sources, (5) high impact CI activities, and (6) effective stakeholder relationships. Specific areas of coverage include:
· Tactics for increasing CI value and recognition
· Current and ideal departmental alignment for maximum effectiveness
· Operating budget levels and trends
· Average compensation and bonus potential for CI staff by individual job level
· Outsourcing of CI activities
· Practices for gathering intelligence from internal and external customers
· Top five most impactful activities
· Average numbers of company products supported and competitor products tracked
· Methods for building trust with internal customers and collaborators
· Most effective internal communication approaches
· Essential skills, experiences and attributes for employee success in CI roles
· Program performance measurement
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Key Findings
Among the findings that emerged from this research are the following:
Best organizational fit: Organizational placement or “fit” of the CI function significantly impacts its ability to influence and engage decision makers. Strategic planning and business development are the locations most often cited by study participants as desirable departmental homes.
Customer focus: High performing CI organizations operate within a framework that emphasizes customer focus to shape projects that have maximum impact. Top organizations target and serve critical customer segments that have the greatest impact on the business, personally engage with these customers to understand their business needs, and become instrumental in providing intelligence to inform their customers’ most important decisions. World class CI groups understand the specific needs of each customer and create custom deliverables to meet their individual requirements.
External customers: External customers are a rich source of competitive intelligence because they talk with competitors and receive competitor product pricing and features information on a continuous basis. Customers also use competitor products and can identify weaknesses in them. However, tapping into this rich resource is a challenge for most CI groups.
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Related Research:
Educating The Market: Creating Value Through Support of Continuing Medical Education
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STUDY OVERVIEW
With limited information on actual return on investment for expenditures toward support of Continuing Medical Education activities, Pharmaceutical and Biotechnology companies are anxious to understand the value of CME support and strategies for ensuring investments provide appropriate impact on healthcare practitioner behaviors and patient outcomes... (ID PSM-223)
Companies Profiled: Alcon Laboratories, Sanofi-aventis, Wyeth Pharmaceuticals, TAP, more ...
Price: $5995.00 Free Excerpt Available
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