#ci basics

[castinsight-blog]

Erroneous

Our recent articles have discussed possible ways of getting the information you need in an ethical way.

One of the best ways of getting to understand a subject you have little knowledge about is to come out with an incorrect statement. Say it in the right environment and you could get a queue offering the right information. "I hear John Smith of Smiths Law firm has put back their Birmingham office move a couple of months" "I have heard that their product launch is struggling and they have decided to put it back until October" "See they have given that Corporate Partner the chop eh. Never saw that coming!" There is a very good chance someone will give you some valuable information without much encouragement.  Until next time Graeme  07866 263078 www.castintelligence.co.uk

[castinsight-blog]

How will Competitive Intelligence affect my business?

Competitive Intelligence will transform your thinking and how you do things, and deliver a better strategic direction to your organisation. If you are able to gather sufficient information about what your rivals are doing and why they are doing it, understand their business model, and isolate and take advantage of their strengths and weaknesses, you will stay ahead of the game.

Competitive Intelligence can improve your productivity, by allowing you to focus on winnable activities and reducing the influence of rumour and industry experience.

Awareness of the competition will improve cross-functional relationships, bringing teams together by getting everyone involved in the information collection and strategic analysis.

It can give you early warning of competitive threats, allowing you to make strategic decisions and actions based on valuable intelligence, not the latest article in the local business press.

In short, CI offers unbiased news, views, truth and relevant analysis for your strategic and operational decision-making.

[castinsight-blog]

Is CI Just About Competitors?

It is also worth noting that CI is not just about your competitors. It can also give you invaluable information about demographics, the economy, other industries, technology, distributors, customers, substitutes, suppliers, government regulation, business prospects, culture and case law.

[castinsight-blog]

Is Competitive Intelligence Just Spying?

It is important to debunk one myth – spying on competitors is a fact of business life, but it is not about rummaging through your adversaries’ dustbins for discarded information.

Snooping on phone records and the theft of other sensitive information is not only illegal, but also a world away from the ever-growing CI industry.  Activities should always be conducted in an ethical way.

[castinsight-blog]

How CI can Help With Business Planning?

CI reduces the possibility of expensive mistakes, build your strategic direction, marketing plans and specific projects upon a foundation of decisions based on intelligence, not rumours or guesswork.

[castinsight-blog]

Can Competitive Intelligence Help With the Appointment of a new TeamMember?

Why wait until the interview to find the best candidate?

You could improve your recruitment strategies by monitoring who the best practitioners are, where they are, and what it may take to get them in your team.

[castinsight-blog]

Can CI Help With Introducing a New Service or Office?

If you are thinking about expanding into geographical market or a new business arena to choose, or introducing a new service or product, CI can help you to understand and anticipate the moves of your rivals and key individuals in those new market segments or areas and, most importantly, the impact such moves may have on your current and future client base.

[castinsight-blog]

Can CI help with Mergers & Acquisitions

CI may not prevent a merger between your rivals from taking place, but it might help you to know about it beforehand, so you can determine what to do about it, with a focused and prepared mind.

It can also assist you (and your customers) in making decisions about your own potential acquisition candidates and investment opportunities, by providing a framework for identifying, assessing and understanding potential problems, strategic and cultural fit across the associated companies, potential predators or rival bidders, and the regulatory climate.