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Building and Sustaining Impactful Competitive Intelligence Organizations
Best Practices LLC, Aug 2007, Pages: 132
This research is focused on several major topic areas: (1) creating and communicating CI value, (2) optimal structure and alignment, (3) resource levels, (4) key primary and secondary intelligence sources, (5) high impact CI activities, and (6) effective stakeholder relationships. Specific areas of coverage include:
- tactics for increasing CI value and recognition
- current and ideal departmental alignment for maximum effectiveness
- operating budget levels and trends
- average compensation and bonus potential for CI staff by individual job level
- outsourcing for CI activities
- average numbers of company products supported and competitor products tracked
- methods for building trust with internal customers and collaborators
- most effective internal communication approaches
- essential skills, experiences, and attributes for employee success in CI roles
- program performance measurement
In today’s volatile business environment, unforeseen market shifts can blindside an unwary company and nullify product forecasts, sales strategies, and development plans, virtually overnight. World-class companies improve their chances for success by using competitive intelligence to help them anticipate and respond strategically to external change.
The competitive intelligence organization plays a vital role within top companies by providing senior management and key decision makers with actionable insights they need to reduce risk, identify emerging business opportunities and improve investment decisions. It is therefore critical that CI groups conduct the right activities with the right level of resources to ensure their companies can maintain a long-term competitive edge.
This cross-industry report provides benchmarks and insights that managers and executives can use to build and sustain high-performing, well-recognized CI organizations. The study discusses how top companies achieve long-term success through thoughtful development of each major program element including:
- Organizational structure & alignment – optimal fit within the corporation
- Resource levels – adequate budget, competent staff, and effective compensation rates
- Leadership – ideal role of the CI head
- CI activities, tools, and techniques – creating high impact analyses
- Stakeholder relationships – integrating CI with internal customers and collaborators
- Demonstrating and promoting CI value
Some of the sample findings of the report include:
- More than half of the organizations participating in the study established CI functions within the last five years.
- Strategic planning and business development are the departmental homes where interviewed executives think CI should reside.
- The average CI operating budget is $821,613, although budgets varied widely across study participants. The average salary for a CI head is $148,709.
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