Page 1

==== ==== The List Building Academy -- Teaching The Best Strategies For Success In Your Chosen Business! ==== ==== ID: 4071096 Author: Brent Cohagan Date Published: Apr 07, 2010 Title: Competitive Intelligence in the Business World Summary: Don't be fooled. The business world is extremely competitive. The difference between success and failure may very w... Body: Don't be fooled. The business world is extremely competitive. The difference between success and failure may very well be found with those who have Competitive Intelligence. Operating a business requires a certain amount of business savvy. Operating a very successful business means taking that savvy up a notch. Experts in the competitive intelligence field have the skills to provide their client with the competitive edge by accumulating intelligence about competitors, the products they produce and the customers that purchase them. This valuable information can provide a client with the strategic approach that can introduce success.Defining Competitive IntelligenceIn simple terms competitive intelligence is nothing more than intelligence gathered about the competition that will offer benefit to another. It is important to note here that unlike Commercial Espionage the act of Competitive Intelligence is perfectly legal. This ethically sound practice permits an expert to pursue intelligence and then analyze it for the value of its content. Experts in the field realize that if the information gathered does not offer benefit than it is not intelligence at all but rather simple information. Therefore they pursue intelligence with vigor and skill until beneficial content is produced.Achieving Competitive IntelligenceThe ability to obtain the edge when it comes to early detection of various market opportunities and risks is unparalleled in the business world. Detection can come from numerous methods and avenues. Analyzing newspaper clippings, examining market statistics and exploring financial reports are just a few approaches to competitive intelligence. A qualified professional can analyze recent trends and observe events and developments that could lead to beneficial intelligence. This intelligence is not geared towards competitors alone but rather to the complete competitive environment and all related information that may be deemed beneficial and actionable.Business Comparison Through Competitive IntelligenceNumerous major companies that market around the globe have realized the vitality of CI and have established departments specifically designated to its practice. CI can not only protect a company from the threats that plague the market but can provide the organization with strategic options as well. When you break it down CI is comparing your company to the competitors in your field of expertise. Companies need to know where they are strong and where they are weak in relation to others. By gathering the right intelligence a company can make better decisions that may provide them with the edge on a specific product or service.Does Competitive Intelligence WorkHave no doubt in your mind that CI does work and is being practiced around the globe at this very moment. Consider all of the ongoing business warfare that exists on the global market. Airlines for example are constantly changing their prices on flights to entice the customer to fly with them. Fast food chains are constantly running promotions in anticipation of

gaining the edge in the market. If a company has CI experts analyzing the situation they can stay one step a head of the curve. They can eliminate surprises and have more time to react to the changes when they surface.The VerdictThe use of qualified private investigator allows a business or organization to sustain the competitive edge required to make sound strategic decisions geared towards growth. The intelligence field is vast and ever changing. Experts change with it and do the homework that allows companies and organizations to make the transformation successfully as well. In the world of global business competitive intelligence induces power and progress and presents those inclined to harness numerous opportunities for success. The verdict is clear; the practice of competitive intelligence is essential and here to stay. Brent CohaganPresidentSkorpion Investigations, Inc.[]

Article Source:

URL: ==== ==== The List Building Academy -- Teaching The Best Strategies For Success In Your Chosen Business! ==== ====

Competitive Intelligence In The Business World

Read more
Read more
Similar to
Popular now
Just for you