Definition Of Competitive Intelligence ( Ci ) Essay
CI is ‘the collection of information, internal, external and from competitors, but also from customers, suppliers, technologies, environments, and potential business to provide early warning and help to predict the moves of competitors, customers, and governments’ (Calof and Wright, 2008, p. 723; Gilad, 1996).
Competitive Intelligence is the process of collecting, analyzing, and distributing actionable intelligence about customers, producer, suppliers and competitors, so as to help the receiver of this actionable intelligence to make an informed decision about organisational strategy.
Competitive Intelligence (CI) comes from shadows of company "secret agent (spy) vs. secret agent" stereotypes, but now present day CI experts are legally and ethically collecting, studying, and making use of information about the abilities, vulnerabilities, and intentions of their competitors, and tracking developments within the universal competitive environments. CI practices generate value to the organization. As you read further, I will indicate to you what value CI presents to an organization, what are its advantages of CI and whether it is a stigmatized practice or not.
3. The value that CI provides to organisations.
The big payoff for Competitive Intelligence is that it will point out weaknesses that you have internally because of the strengths of your competitors. CI allows senior managers and executives in…