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Best Practice Database
Competitive and Business Intelligence » Contracting Vendor/ Outsourcing
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Metrics, Graphics, Summary Matrix
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"Effective Competitive Intelligence Stakeholder Relationships & Communications"
Successful CI leaders and staff know that intelligence organizations (see definition at end of abstract) must be well connected with their key stakeholders to sustain the function’s effectiveness. They build close relationships with their internal customers and collaborators to ensure the CI function is attuned to the most important issues facing the company at any given time. In turn, deep understanding of business issues enables CI to create high value analyses that help shape strategy and win corporate trust.
This cross-industry report provides benchmarks and insights that managers and executives can use to build and sustain high-performing, well-recognized CI organizations. This study delivers insights into building effective relationships with stakeholders and preferred methods of communication with stakeholders.
· Principal CI Customer Groups Served
· Internal Customers that Elevate the Role of CI
· Effective Teaming with Collaborators, Especially Sales
· Methods of Building Trust for CI
· Best Practices for Communicating CI Findings
Many of the data graphics in this presentation provide averages for the full benchmark class as well as separate averages for pharmaceutical and non-pharmaceutical industry segments. This segmentation strategy was adopted due to the high volume—46 percent—of participation from the pharma industry.
· Corporate Functions that Use CI Services
· Top Internal Customers that Elevate Role of CI (also includes a response matrix)
· Percent of Companies' with Various Groups that Collaborates with CI
· Dissemination Methods for CI Findings
· Preferred Communication Methods & Frequency
· Methods for Gathering Feedback on CI Function
· Format and Frequency Preferences for Specific Customer Communications
SAMPLE KEY FINDINGS
· 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.
· Savvy CI leaders continuously monitor stakeholder needs to deliver results that are consistently insightful and actionable. Some organizations become virtual internal consulting agencies.
The research was conducted in two phases that involved 54 companies across 15 different industries. Each phase involved a survey instrument as well as separate in-depth interviews with selected CI program executives. Surveys were focused on collecting quantitative data, while interviews harvested qualitative data and management insights.
“CI” (Competitive Intelligence) – For purposes of this study, the term “Competitive Intelligence” (or “CI”) is defined as actionable knowledge and insights about competitors and the competitive environment. CI process includes gathering, analyzing and disseminating actionable information and insights. Activities include SWOT analyses, competitor product profiling, industry audits, scenario development, value chain analysis, etc. Functions of corporate librarians are excluded.
If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.