I was recently asked by a prospective client to summarize how I could help his company develop and implement a competitive intelligence process. While I tend to follow certain steps in setting up a CI process, I was taken aback since this company’s industry is such a specialized niche within financial services, and I am not a “one size fits all” consultant. Here are some of the takeaways that apply to any industry.
I just read a fabulous article by Ulla de Stricker entitled “Creating Influence through ‘Being There’ published in SLA’s July/Aug 2009 edition of Information Outlook. While the article targets librarians and information professionals, most of Ulla’s ideas benefit anyone, including competitive intelligence managers. I notice they also align with the practices of cooperative intelligence–especially cooperative leadership and cooperative connection.
“Ask not what your country can do for you, but what you can do for your country!” While this quote came from his older, brother, former President John F. Kennedy, I believe Ted Kennedy lived this quote for at least the 47 years that he was a senator from Massachusetts.
SCIP just announced that its formal merger was consummated with Frost & Sullivan’s Institute. This merger is a sign of the times: it’s hard for associations to survive in this tough economic climate. But I think it’s more than that: the association model is changing not just due to competition from other associations, but for people’s time and easy access to connections formerly made through associations via social media.
When marketing and R&D are truly focused on understanding and acting on customer needs, it makes both of their jobs easier and their results more productive! This is a powerful competitive weapon since this is not the case at many companies. Perhaps R&D can be masters of the art of possibility while Marketing can master the art of the Possible– that is what customers want and are willing to pay for.
Those who don’t take advantage of technology and pharmacology might be at a competitive disadvantage, increasingly so in the future. Today we are getting smarter through what Jamais Cascio describes as intelligence augmentation, which helps us make connections and see patterns in order to avoid being overwhelmed by this information glut. By 2030, we’ll live in a world where sophisticated foresight, detailed analysis and insight and augmented awareness will be commonplace. Many professionals will use simulation and modeling in their daily work as the supporting technology will be readily available. Read how.
The Deloitte Center for the Edge recently got my attention with its findings that competition is intensifying globally with a US return on assets dropping consistently across 15 different industries by 75% over the last 40 years! The Shift Index consists of 3 indices: Foundation, Flow and Impact, plus 25 other metrics that together quantify the stock, pace and implications for change. Successful firms will shift from what’s worked in the past, scalable efficiency to scalable learning.
Think Apple Computer when you think about a successful company by these “Shift Index” standards. It’s no coincidence that Apple customers enjoy the experience of using its products. I think a lot of what this long-term study concludes with is what good competitive intelligence has been preaching for YEARS. Keep reaching out and connecting both internally and externally and build on the intelligence you gather. Stay connected with people through all the means technology allows you to reach them. Isn’t this the foundation of a good early warning system?
Read excerpts from Chris Kenneally’s interview with AIIP leaders Marcy Phelps and Linda Rink and find out about this great organization of 600 information professionals in over 20 countries who run their own businesses and support businesses which range from start-ups to Fortune 1000 companies. AIIPers do a lot more than simply find information: many members provide analysis to help clients make sense of the information, and provide ongoing updates.
Read this remarkable turnaround success story about how Todd Wille’s cooperative leadership and management brought back the customers to Unify Corporation and boosted the morale of the workforce during a very difficult time when the company was under investigation from fraud, they were almost bankrupt, and it seemed like all they could do was fail! I applaud Todd Wille, winner of the 2008 turnaround executive award!
Many of us in CI are very good at digging up good insightful data and providing relevant analysis. We’re not so good at the human issues of connection and communication, which is where librarians run circles around many of us. Librarians get where their role is in the company, that it’s evolving and provide it with a spirit of service and giving. They also know what they don’t know and learn about it.