If you knew that your strongest competitor was doubling its advertising budget in the same marketing channel that brings the largest amount of customers to your company, would that information influence your decisions? Understanding your competitors’ advertising strategies may mean the difference in whether or not your marketing efforts succeed. By knowing the channels in which your competitors invests the most, the values they aim to communicate to potential customers and the banner ads that work for them, you are able to gain several strategic benefits.
two new team members were quietly questioning whether they should be honest about the gaps they saw in the business. Is that really such a big deal? How many of us would prefer to keep the peace and avoid being the naysayer? Or prioritize being seen as a team player over identifying problems that may lie in someone else’s department? Or downplay an issue of our own team, hoping we’ll be able to fix it before anyone notices? The truth is that it’s hard to speak up about potentially sensitive issues. The bar for leadership in most organizations is too low. We allow politics to supersede performance. And it’s hurting good organizations. The biggest challenge we face as leaders is rarely about discovering the perfect strategy or developing a smarter product or figuring out the gaps in the business.
As it turns out, fear is a common (and deadly) factor preventing organizations from reaching their full potential to innovate. Sure we can list plenty of “business book” factors such as globalization and macroeconomic forces, but we should consider fear as the real threat to the humans behind innovation. Below we explore four factors that directly impact your company’s ability to innovate and compete- all because of fear..
Intelligence strives to answer the most pressing questions on a decision-maker’s mind. Ask whether or not those practicing CI, including you, are seeking to answer only the “most pressing” questions or are including questions of interest. (In my CI training, I usually divide these into “need to know” and “nice to know”). Unfortunately, I think the answer may too often be “questions of interest” and rarely, if ever, the “most pressing questions”.
We need more than big ideas, or pithy words, or an ultra-clear vision to invent the future. First, we need to be able to let go of the past, unlearn things that no longer serve us. We don’t bother to examine the rules as they’ve been handed down.And this downside – not examining the rules as they’ve been laid down – is not a minor thing; it has a huge cost. It stalls progress. It defeats those with fresh new ideas. It reinforces entrenched interests. When a society accepts the practices, methods, and measures of the 20th century to conceive the 21st century, failure is inevitable. In order to consider new ideas, you have to be willing to let go of ones that no longer serve you.
During this talk we show how market researchers and competitive intelligence professionals can use LinkedIn data and search data to understand more about competitors and market trends. In short, when you have "all" the data - you no longer have to "punt" on the hard questions. (Cascade Insights)
According to the data, yes, the venture capital industry is shrinking. And it has been shrinking for several years. We have documented a trend of industry consolidation since 2009, and our latest analysis confirms that the trend persists. We find that venture capital dollars continue to concentrate increasingly in the hands of fewer and fewer venture capital firms.
Building from my post about intelligence being a well-informed “opinion”, this item in the Wall Street Journal last week reminded me of another story of good intelligence informing smart decisions…highly opinionated intelligence, I might add!The crux of the story is no amount of wishful thinking changes the laws of thermodynamics.
the executives’ failure showed the importance of frames – the set of beliefs and assumptions that you carry in your head to help you understand and negotiate some part of your world. A good frame helps you to figure out what is happening and what options to pick. Framing involves matching mental maps to situations. That will mean, at times, reframing – adjusting your thinking to a new situation. Framing and reframing can sound abstract. But in How Great Leaders Think, the two authors offer some clarity, presenting four frames of leadership to consider
It's time for companies and governments to take the steps that will lead to an evolution in analytics. Gaining commercial benefit from data depends on a hypothesis-led process: carefully formulating business questions that can be addressed by larger data sets and more advanced analytics, acting on the insights generated, monitoring performance changes, and revising procedures in a continuous improvement cycle
Companies face unprecedented business pressures that require both speed and agility. To succeed, their decision-making velocity must increase. Corporations must get better at making quicker pivots, which means one's decision speed is critical. To achieve faster decision-making, companies must understand what behaviors induce speed, and which ones slow it down. They must have a formal process to drive behavioral change and track progress But speed absent quality is certain disaster. Anyone can make quick decisions without much thought. Creating an environment where thoughtful decisions are made is a key consideration that must be woven into the behavioral model. Five common beliefs may be slowing down your company's decision-making ability:
The lead-up to World War I demonstrates the planning fallacy (outlined by Nobel laureate Daniel Kahneman in his terrific book, “Thinking, Fast and Slow”) writ large. In the same way that the narrative fallacy constructs stories to create a make-believe history of grand designs and chess-master-like wisdom (since winners tend to write the accepted accounts), the planning fallacy projects those same fanciful renderings forward with the idea that the future can somehow be managed—and perhaps controlled—despite the lack of any actual historical support for the notion.
A number of recent headline-grabbing announcements of divestments and split-ups by companies are putting the spotlight again on the phenomenon of “core shifting”: how a company, through a sustained process of acquiring and divesting assets, changes the mix of its business portfolio and thus purposefully shifts the core of its activities. What makes such a transformation successful? From our analysis of a number of core shifts and conversations with the CEOs who have undertaken them, we have drawn five keys to success:..
Discovery Patterns operates a world wide network of servers dedicated to trend discovery and competitive advantage enhancing market awareness for businesses, financial organizations, individuals, and political campaigns. This radar captures the streaming of big unstructured data and converts it into the “swarm intelligence” of thousands of writers, commentators, social publishers, researchers and analysts. Hundreds of thousands of articles will be analyzed and patterned in parallel to actual market performances. The graphic radar shows the market force priorities of the Discovery Patterns big unstructured data analytics, with the highest companies, applications and technologies winning the center of the radar space. These trends often precede actual market performances.
When it comes to researching the marketplace, there are different types of competitive intelligence. One of the most important types is ‘competitor’ intelligence—how your competitors are operating in the marketplace. A few things your competitive intelligence data should reveal about the competition:
Think back to your most productive workday in the past week. Now ask yourself: On that afternoon, what did you have for lunch? When we think about the factors that contribute to workplace performance, we rarely give much consideration to food.
When PwC released its annual survey of corporate chief executives for 2014, it was immediately obvious that change is on leaders’ brains: “As CEOs plan their strategies to take advantage of transformational shifts,” the consultancy reported, “they are also assessing their current capabilities – and finding that everything is fair game for reinvention.” It’s no wonder why. For Drucker, the newest new world was marked, above all, by one dominant factor: “the shift to a knowledge society.”
NATO research group SAS-102, with the working title Intelligence Exploitation of Social Media, has gained great attention since its first meeting at the Royal Danish Defence College in the fall of 2013. The group now consists of 30 representatives from 16 different NATO countries as well as several authorities.The purpose of the group is to examine how social media can be exploited in intelligence.
No doubt research offshoring relationships need to have robust institutional and process frameworks at their base. You need a comprehensive contract, service level agreements (SLAs), a defined workflow, processes for feedback and escalation, guidelines for communication, and so on. Additionally, the people managing the partnerships need to be committed to it and must have the requisite competencies to manage them. Without the “right” people, even the best laid out partnerships can fail.
Sincere apologies are hard. A Stanford psychologist claims to have found a way to make them easier. A technique that allows for people's self-protective impulses but still helps them to wholeheartedly admit errors and soothe hurt feelings? Stanford psychologist Karina Schumann thinks she may have found one with her latest research. The trick is to engage in a little self affirmation before you screw up the courage to apologize, she found.
Great competitive intelligence drives decisions, and in practice that requires more than clever analysis and important insights. We’ll focus on connecting with executives by making content more Visible so that our work has the right audience; making information Interactive both literally and conceptually to help engage executives and give them more ownership; and, making information Provocative to drive action. Kevin will cover specific techniques that his team at IBM is using in their competitive intelligence program, and we’ll welcome examples from others during the Q&A session.
a straightforward definition of culture he's developed over the years. "Culture," he says, "is how work gets done in your company." It is the invisible hand that accelerates and decelerates your company strategy. The strength of your culture is actually determined by how well aligned it is to your strategy.
Sometimes, going “by the book” isn’t all it’s cracked up to be. Competitive intelligence, like any other discipline, is constantly changing and professionals must take time to assess if what they’re currently doing is actually beneficial. While every organization is different and requires competitive intelligence for different reasons, some commonly accepted CI techniques and approaches aren’t as effective as believed to be. With that in mind, consider below three competitive intelligence rules to break:.