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Using Guidelines to Reduce Risk and Ensure Effectiveness in Competitive Intelligence Groups
Date:7/7/2011

CHAPEL HILL, N.C., July 7, 2011 /PRNewswire/ -- Creativity and innovation in collecting, analyzing, and disseminating mission-critical data often drive the success of pharmaceutical Competitive Intelligence groups. While there are many approaches to collecting data, CI groups must operate within and adhere to professional guidelines and company policies that reduce corporate risk. Leading organizations understand that effective guidelines strike a balance between reducing exposure to risk and not inhibiting the gathering of critical information.

To help organizations navigate this challenging task, Best Practices, LLC has published "Best Practices in Competitive Intelligence: Establishing Policies & Guidelines that Reduce Corporate Risks." This research study explores CI organizational structure, information sources, data collection methods and operating guidelines utilized by CI groups at leading pharmaceutical and biotechnology companies.

This 52-page report will help organizations understand:

  • How organizations can optimize their CI operations while working within defined guidelines.
  • How CI organizations work with Legal to develop policies and guidelines.
  • Practices for collection, use and sources of primary data —including use of third party vendors for primary data collection.
  • Current approaches to CI resources, staffing and structure.

In terms of managing risk, two-thirds of the organizations that participated in the study said they have formal guidelines and policies in place that govern primary CI data collection. CI leaders who developed guidelines with their legal teams found that they had to educate colleagues in legal about the purpose of the CI function in order to alleviate concerns that competitive activities put their company at risk.

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SOURCE Best Practices, LLC
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