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Competitive Intelligence
8732INDUSTRY SNAPSHOTLoosely defined as the legal and ethical collection of information regarding the operations of rival corporations, the term "competitive intelligence" implies an almost academic quest for knowledge. In pursuit of competitive intelligence, analysts, librarians, and research specialists study documents and survey computer databases in an attempt to identify trends and help manufacturers produce safer and otherwise improved products. In some cases, competitive intelligence may more correctly be called "corporate espionage." This second application entails a variety of possibly illegal and largely unethical practices, such as foraging through trash cans, bribing employees, and wiretapping phones and offices, with an ultimate goal of undermining a company's opposition. By the early twentieth century, the industry of information gathering, in its various formations and practices, had been elevated to a professional pursuit.By 2006, more than 3,000 professionals belonged to the Society of Competitive Intelligence Professionals, and many more were employed by companies of various sizes to scope the competition. Most large companies, such as Motorola, Procter and Gamble, AT&T, and Kraft, had dedicated internal resources to the endeavor. Called by various names, including Competitive Intelligence (CI), Market Research and Analysis, and Strategic Planning, these departments had a single goal, to stay one step ahead of the competition. Mid-sized firms, which cannot justify the expense of full-time staff, often contracted with independent firms on a project basis. The increasing number of firms established primarily to scope the competition signaled the growing market for this service.Heading into the later years of the first decade of the twenty-first century, some kind of competitive intelligence was considered a key part of a company's operations. According to Information Management Journal, "CI is so critical that...See the full content of this document
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