In a period of super competition, there are more strategic competitive threats and profits are likely to be volatile. Intelligence functions should establish a competitor monitoring system to evaluate and provide early warning of new strategic and tactical competitive threats and opportunities. This is a business critical responsibility in a dynamic competitive environment.
Clearly different audiences in an organisation will have different competitor monitoring requirements, but that is no reason to delay introducing a competitor monitoring system, if your company doesn’t have one. If you do have a competitor monitoring system it is important to check regularly how efficient and effective the system is. Is it well integrated with your competitor profiling program? Is it providing early warning of competitive threats? Is it perceived to be delivering sufficient analysis? Which geographic or product markets fall outside its scope?
Intelligentsia has been assisting companies with the monitoring of their competitive environments since 1990. We can help design and build the monitoring system, track competitor initiatives using primary research, integrate, digest and analyse multiple sources of competitor information and produce or disseminate the monitoring system’s outputs.
Establishing and operating an effective competitor monitoring system is a specialised and resource-intensive activity. Some intelligence units lack the manpower to introduce or sustain such a system; but without a competitor monitoring system an organisation risks ‘flying blind’.
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To learn more about Intelligentsia’s Competitor Monitoring services and how they are helping clients gain early warning of competitive threats – click the above link.
Since 1990, Intelligentsia has helped leading companies perform even better.