Navigation Links
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.

"One of the things that helped them understand was a diagram of a balance that weighed the risks of collecting competitive information against the risks of not employing our fiduciary responsibility to keep the company competitive and deliver share-holder value. They came to understand that turning a blind eye because we didn't want to address the question of how to do it legally and ethically was actually putting the company at greater risk and the longer we waited, the further we were behind competitively," said one senior director who participated in the study.

Twenty-seven leaders of Competitive Intelligence and related functions at 22 leading pharmaceutical companies participated in the research project, which included field interviews. CI leaders can use this research to help create or maintain policies and guidelines regarding CI operations as well as to compare their data collection practices and resource/structural benchmarks with those of leading organizations.

To learn more about this report, download a complimentary report excerpt at http://www3.best-in-class.com/rr1088.htm. For related research, visit our Best Practices, LLC Web site at www.best-in-class.com/

ABOUT BEST PRACTICES, LLC

Best Practices, LLC serves 48 of the world's 50 top pharmaceutical companies.  For more than 17 years, we have conducted work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.


'/>"/>
SOURCE Best Practices, LLC
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Largest Multi-Centre Evaluation of Radioembolization Using Sir-Spheres for Patients With Inoperable Primary Liver Cancer Published in Hepatology
2. Significant Rise in Survival Rates for Elderly Lung Cancer Patients Treated Using Radiosurgery in Netherlands Detailed at World Conference for Lung Cancer
3. Microtest Laboratories Announces New Fast-Track Toxicity Testing for Medical Devices Using Zebrafish Embryos
4. Lung Cancer Alliance Again Salutes NCI for its Now Published Work on Lung Cancer Screening Study Which Proved a 20 Percent Mortality Benefit for Those at Risk for Lung Cancer Using CT Scans
5. Halozymes Ultrafast Insulin Demonstrates Reduced Variability of Insulin Absorption for Type 1 Diabetes Patients Using Insulin Pumps
6. Multiple Presentations Confirm Clinical Efficacy and High Rate of Patient Compliance Using Provent® Sleep Apnea Therapy to Treat Obstructive Sleep Apnea
7. Study Shows Improved Patient Management and Outcome Using Abbotts Sensitive Troponin Assay
8. Pharmacy College Applications Screened Using Turnitin for Admissions
9. Fredericksburg Nephrology Associates, Inc., Successfully Attests to Meaningful Use Using Acumen EHR
10. Star Scientific Files First Quarter Report, Updates Details of Flint Study Using RCP-006
11. Dermatologist Using Robot for Dermatologic Emergencies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... Research and Markets has announced the ... Tests" report to their offering. ... The World Market for Companion Diagnostics covers the ... analysis in the report includes the following: ... Kits) by Region (N. America, EU, ROW), 2015-2020 , ...
(Date:6/23/2016)... , June 23, 2016  MedSource announced ... as its e-clinical software solution of choice.  This ... best possible value to their clients by offering ... The preferred relationship establishes nowEDC as the EDC ... for MedSource,s full-service clients.  "nowEDC has long been ...
(Date:6/23/2016)... 23, 2016 Roche (SIX: RO, ROG; OTCQX: ... its Elecsys BRAHMS PCT (procalcitonin) assay as a dedicated ... shock. With this clearance, Roche is the first IVD ... solution for sepsis risk assessment and management. ... and PCT levels in blood can aid clinicians in ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... , ... TherapySites, the leading website and online ... Counseling Association. This new relationship allows TherapySites to continue to extend their ... benefits and promotional offers. , "TCA is extremely excited about this new partnership, ...
(Date:6/26/2016)... ... 27, 2016 , ... Quality metrics are proliferating in cancer care, and are ... the eye of the beholder, according to experts who offered insights and commentary in ... Managed Care. For the full issue, click here . , For the American ...
(Date:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified ... be personalized through a fitness app. The fitness app plans to fix the two major ... only offer a one size fits all type program , They don’t eliminate ...
(Date:6/25/2016)... FL (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton Memorial ... Plant City Observer , brings up a new, often overlooked aspect of head lice: the ... closing for fumigation is not a common occurrence, but a necessary one in the event ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... ... athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic procedures as ... City area —Johnson is one of the first doctors to perform the treatment. ...
Breaking Medicine News(10 mins):