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A Competitive Intelligence (CI) Value Model for Companies
Abstract
Competitive Intelligence is a relatively new business process that has been implemented in many large companies in recent years. In many companies it is now a separate unit that reports directly to the CEO. Competitive intelligence practitioners gather public data, analyze it, and report on actionable findings with the intention of improving their company’s competitive position in the marketplace. Best practices in competitive intelligence include strict adherence to a code of ethics as published by the Society of Competitive Intelligence Professionals. Also essential are executive support, education, and integration within the organization’s planning and strategic development process. Use of competitive intelligence by medium and small companies is less prevalent in part because of difficulty in determining value from the process and justification for the cost. In this paper, a value model for competitive intelligence is presented as a means for companies to evaluate the benefits and justify the costs associated with establishing a competitive intelligence unit.
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