“Given the priority of competitiveness in modern companies, practitioners of competitive intelligence (CI) need to come to terms with what business and competitive analysis is and how it works. More importantly, they need to be able to convert the wealth of available data and information into a valuable form for decision making and action. Collected data must be converted into intelligence. This is accomplished through analysis.”
— Craig S. Fleisher and Babette E. Bensoussan, Strategic and Competitive Analysis: Methods and Techniques for Analyzing Business Competition. Upper Saddle River, NJ.: Prentice Hall, 2003
Over the years a few very disturbing characteristics, somewhat pervasive in the entrepreneurial minds of independent business owners and senior-level executives, have become more and more apparent. Specifically, as they relate to the issue of competition the characteristics have manifested into such statements similar to the following:
“We are completely different than anything you have ever seen, therefore, we just don’t have any competitors.”
“Competition? We don’t worry about the competition. We make them worry about what we are doing at our firm.”
“No one competes with us. We are one of a kind.”
Unfortunately, every one of these statements and those that are similar produce the same result…if not immediately more than likely very soon…those making the statements are going to experience shrinking markets, margins, and brand loyalty. The price of denial and ignorance is substantial.
If you do not suffer from this type of denial and would like to know more about applying the benefits of professionally acquired and distilled competitive intelligence, especially in how the benefits of CI will enhance your strategic planning and the realization of your desired vision (outcome) please contact HeinSight…before the fact!™ …today!
“Competition…can afflict an industry. Left undetected, competition may intensify and spread, threatening the survival of all but the hardiest competitors. Early detection of competition can help firms avoid its worst consequences. An important role of the strategic analyst is to diagnose the competitive conditions of the marketplace and anticipate when they are likely to turn virulent.”
— David Dranove and Sonia Marciano, Kellogg on Strategy: Concepts, Tools, and Frameworks for Practioners. Hoboken, NJ.; John Wiley & Sons, Inc.