Creating a Competitive Intelligence Function
4-consulting offers a full competitive intelligence function and it can also assist you to set up your own competitive intelligence group.
Your Competitive Intelligence Policy
Don’t think about setting up a competitive intelligence function for your organisation unless you first have a clear idea of its purpose.
Good competitive intelligence means saving money and opening new opportunities. Your business can save money by understanding suppliers and input costs better; by anticipating competitive price moves; or by learning about new products, technology and patents. You can create new opportunities by learning about competitor strategy; by obtaining partners or revealing acquisitions; or by researching new markets.
Get the competitive intelligence team to cut its teeth on key strategies that are planned. By analysing the impact of these opportunities from the point of view of the competitive environment they can add real value, improve decisions and save a potential disaster. If a competitive intelligence cannot add value in this kind of key decision area then it will never be of use to your organisation
Your Competitive Intelligence Objectives
The key to making a competitive intelligence team effective is to set clear, measurable objectives:
