Competitive Intelligence: Importance and Application in Practice

Gračanin, Šaban; Kalač, Edin; Jovanović, Dejan

doi:10.32728/ric.2015.11/2

Cited by 16 publications

(27 citation statements)

References 6 publications

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“…Competitive intelligence failures can also be caused by error from incoming data or mistakes made by senior management, competitive intelligence professionals and data analysts (Erdelez and Ware, 2001; Tsitoura and Stephens, 2012; Garcia-Alsina et al , 2013). Such failures can have devastating effects in organisations, which may result in the loss of opportunities and profits (Nasri, 2011; Tsitoura and Stephens, 2012; Garcia-Alsina et al , 2013; Gračanin et al , 2015).…”

Section: Introductionmentioning

confidence: 99%

Competitive intelligence failures

Maungwa

Fourie

2018

AJIM

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Purpose Competitive intelligence failures have devastating effects in marketplaces. They are attributed to various factors but seldom explicitly to information behaviour. This paper addresses causes of competitive intelligence failures from an information behaviour lens focussing on problems with key intelligence and information needs. The exploratory study was conducted in 2016/2017. Managers (end-users) identify key intelligence needs on which information is needed, and often other staff members seek the information (proxy information seeking). The purpose of this paper is to analyse problems related to key intelligence and information needs, and make recommendations to address the problems. Design/methodology/approach The study is placed in a post-positivism research paradigm, using qualitative and limited quantitative research approaches. In total, 15 participants (competitive intelligence professionals and educators/trainers originating from South Africa and the USA) contributed rich data through in-depth individual interviews. Findings Problems associated with articulation of information needs (key intelligence needs is the competitive intelligence term – with a broader scope) include inadequate communication between the person in need of information and the proxy information searcher; awareness and recognition of information needs; difficulty in articulation, incomplete and partial sharing of details of needs. Research limitations/implications Participant recruitment was difficult, representing mostly from South Africa. The findings from this exploratory study can, however, direct further studies with a very understudied group. Practical implications However, revealed valuable findings that can guide research. Originality/value Little has been published on competitive intelligence from an information behaviour perspective. Frameworks guiding the study (a combination of Leckie et al.’s 1996 and Wilson’s, 1981 models and a competitive intelligence life cycle), however, revealed valuable findings that can guide research.

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Section: Introductionmentioning

confidence: 99%

Competitive intelligence failures

Maungwa

Fourie

2018

AJIM

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“…Wright, Bisson, and Duffy (2012) state that in order to enter, survive and develop in their industry and markets, firms have to gain competitive advantage. Gračanin, Kalac, and Jovanović (2015) state that competitive intelligence can be a source of competitive advantage, enabling a company to develop and implement strategies that improve business efficiency and effectiveness. One of the ways of gaining this competitive advantage in the market is the application of competitive intelligence strategies in enterprises.…”

Section: Statement Of the Problemmentioning

confidence: 99%

Key Vulnerabilities and the Competitive Advantage among Commercial Banks in Kenya

Waithaka

2021

2641-0249

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Globalization and technological advancement have in a big way altered the business landscape, making it difficult for banks to sustain competitive advantage. The need to enhance competitiveness has forced banks to consider competitive intelligence not only as a tool to guard against threats but also as a mechanism for discovering new opportunities and trends. Competitive intelligence contributes to continuous improvement of the quality of products, services and solutions offered by banks to their clients as well as increasing a firm’s innovative capability. Key vulnerabilities have been identified as one of the strategic inputs of competitive intelligence that a firm needs to focus on in order to gain and sustain competitive advantage. This paper sought to examine the effect of identification and assessment of key organizational vulnerabilities on the competitive advantage among commercial banks in Kenya. The target population for the study were directors or managers in-charge of planning or strategy in each of the forty banks in the country. Primary data was collected using a semi structured questionnaire. The questionnaire was tested for both validity and reliability and was found to meet the required threshold. A response rate of 77.5% was achieved in the study and this was adequate for analysis. The study found that identification, assessment and hedging against key vulnerabilities had significant effect on the ability of banks to sustain competitive advantage. The study therefore concluded that key vulnerabilities should be identified, assessed and hedged against since they could inhibit a company’s strategy from succeeding in the marketplace. The study recommends that banks should raise the level of use of competitive intelligence in monitoring the competitive landscape to enable early identification and assessment of key vulnerabilities, then take steps to hedge the vulnerable areas from being exploited by rivals to the detriment of the bank. The study further recommends that managers should be continuously assessing the vulnerability of their banks with aim of hedging against attack by rivals.

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“…Wright, Bission and Duffy (2012) state that in order to enter, survive and develop in their industry and markets, firms have to gain competitive advantage. Gracanin, Kalac and Jovanovic (2015) state that competitive intelligence can be a source of competitive advantage, enabling a company to develop and implement strategies that improve business efficiency and effectiveness. One of the ways of gaining this competitive advantage in the market is the application of competitive intelligence strategies in enterprises.…”

Section: Statement Of the Problemmentioning

confidence: 99%

Core Assumptions and the Competitive Advantage among Commercial Banks in Kenya

Waithaka

2021

JBSM

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Purpose: This paper sought to examine the effect of verification of core assumptions on the competitive advantage among commercial banks in Kenya. Methodology: The target population for the study were directors or managers in-charge of planning or strategy in each of the forty banks in the country. Primary data was collected using a semi structured questionnaire. The questionnaire was tested for both validity and reliability and was found to meet the required threshold. . Data was analyzed using both descriptive and inferential statistics. Analysis was done with the assistance of SPSS computer packages. Findings: A response rate of 77.5% was achieved in the study and this was adequate for analysis. The study found that verification of core assumptions has a β =0.472 and a p-value of 0.000 which indicates that it has a significant effect on the ability of banks to sustain competitive advantage. The study therefore concluded that verification of core assumptions must be carried out continuously to track their validity on which the company’s strategies are grounded upon. Unique Contributions to Theory, Practice and Policy: The study therefore recommends that banks should raise the level of use of competitive intelligence in monitoring the competitive landscape to enable early verification of core assumptions. The study further recommends that banks should continuously monitor the various core assumptions that were considered during strategy formulation to verify their validity to enable the bank rapidly change the strategy, should the core assumption on which it was grounded on be found to be no longer valid.

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Competitive Intelligence: Importance and Application in Practice

Cited by 16 publications

References 6 publications

Competitive intelligence failures

Competitive intelligence failures

Key Vulnerabilities and the Competitive Advantage among Commercial Banks in Kenya

Core Assumptions and the Competitive Advantage among Commercial Banks in Kenya

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