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Understand the Power of Competitive Intelligence
Date:4/15/2008

CHAPEL HILL, N.C., April 15 /PRNewswire/ -- "When we fail to win business, these events become sales autopsies. We probe why they went with another vendor, and in the process, we gain a tremendous amount of competitive intelligence." This situation described by a company manager illustrates a late response to gathering critical CI. Whereas, a successful world-class company would gather this information proactively and act on it to strategically develop competitive edge.

Best Practices, LLC's analytical approach 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 CI success through thoughtful development of each major program element including:

-- Organizational Structure and alignment-optimal fit within the

corporation

-- Resource levels - adequate budget, competent staff and effective

compensation rates

-- Leadership - ideal role of CI head

-- CI activities, tools and techniques- creating high impact analyses

-- Stakeholder relationships- integrating CI with internal customers and

collaborators

-- Best Practices - demonstrating and promoting CI value

In addition to helping executives understand how to build an effective CI program, the study presents proven methods for increasing the quality and value of an existing CI groups. The report presents data for the full benchmark class and pharmaceutical segment and is based on insights gathered from 54 companies representing more than 12 different industries. Participants included Amgen, Boeing, Eli Lilly, Fidelity Investments, IBM, Merck, Procter & Gamble, Kraft and Wyeth.

A complimentary summary of "Building & Sustaining Impactful Competitive Intelligence Organizations" is available at http://www3.best-in-class.com
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SOURCE Best Practices, LLC
Copyright©2008 PR Newswire.
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