		Webizus Monthly Newsletter

"If a cat does something, we call it instinct; if we do the same thing, for the same reason, we call it intelligence."

--Will Cuppy

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In today's information age, frequent surprises by competitors are a clear indication of disregard to the availability of information. Many firms practice Competitive Intelligence without formally naming it as CI & no formal CI processes. However with global competition, CI is neither something that can be done 'by the way' or remain an added responsibility in a job profile nor can it be practiced by a single individual. CI has become everybody's job as it involves all the functions of a business. Information collection performed by CI professionals center around the sophisticated use of published material, databases, and on-the-record interview techniques.

Technology has made data gathering & analysis much more cost effective, but it does not make CI instantaneous. Therefore the lure of using unethical or illegal practices remains. It could make information collection faster in the short term, but does not help in the long term. It is wishful thinking to say that no company indulges in illegal practices. The number of cases pertaining to business espionage is a case in point. If the convicted company has a compliance plan in place, it stands a better chance in the case, although it is not under legal obligation to do so.

It is important to measure the ROI on CI investments. Positive ROI is possible only when CI is strongly integrated with strategy, i.e., the intelligence gathered is acted upon. ROI measurement efforts can be started with 'need based' CI, which is more straightforward to measure. If knowledge management is classified into internal & external, CI is one of the most critical knowledge gained from the external environment. No wonder most CI success stories talk of derailing their competitor's strategy by timely action on the intelligence gathered.

The complete gamut of CI can thus be represented as:

Assimilate - > Analyze - > Act

where information is assimilated from various sources, it is analyzed to form a complete picture & necessary action is taken on the basis of the information available. CI, as a tool for decision making & strategizing, is only limited by the foresight of the management team. For example, some of the greatest threats to companies have come from other industries which could provide a substitute product or service offering greater value. A CI exercise that limits itself to competitors in its own industry would be less beneficial than one which scans for competitors providing similar utility.

Myths:

A CI professional has to have good connections
CI professionals are known to work across industries, where they have to develop new connections. The basic skill sets remain the same, know the procedural aspects, keep it legal, be ethical. Good connections are required, but can be developed anew. A successful CI professional can repeat the performance in another industry.

CI is spying
This is the age of information overload. There is enough information out there. Conferences, trade shows, meetings & all the bits of information that your sales team gathers. CI is a part of the business; it helps organizations improve their performance & benefits society in the long run. However business espionage does exist & it does involves spying. Congress passed the Economic Espionage Act in 1996, which carries criminal penalties for theft of intellectual property.

A market research firm has the right skill sets for CI
Market research is a good source of information to CI professionals, but may lack the soft skills required by CI professionals.

CI is to help me win & my competitor lose
The knowledge economy places a premium on communities & collaboration among them. Partnering with your competition is a great way to learn about them. Ray Noorda, the founder of Novell coined the term coopetition.

CI is not beneficial for my industry
Although CI is more visible in some industries, there is no company (which is not a monopoly) that cannot benefit from CI, no matter what industry it is in.

Counter Intelligence is safeguarding your own sensitive business information. It is the reverse of CI. A policy needs to be in place defining what constitutes confidential information & the security required to protect such information. Counter Intelligence tries to understand the CI methods used by its competitors & change or update its own security plans accordingly.

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