Competitive intelligence
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This document discusses different types of industries and competitive strategies. It categorizes industries as multi-domestic, global, or regional based on their geographic scope. Competitive strategies include defenders who focus on efficiency, prospectors who focus on innovation, analyzers with two product areas, and reactors without consistency. Hypercompetition creates disequilibrium and change. Competitive advantage comes from knowledge, risk-taking, and cannibalizing own products. Key success factors significantly affect industry positions. Competitive intelligence formally gathers information on competitors through brokers, the internet, espionage, and services to monitor competitors for strategic planning.
Competitive intelligence
- 2. Categorizing International Industries ? Multi-domestic Industries- specific to each ? Global Industries- operate worldwide with ? Regional industries- multinational companies country or group of countries multinational companies making only small adjustments for country-specific circumstances primarily coordinate their activities within regions
- 3. Strategic Types ? ? Defenders- focus on improving efficiency Prospectors- focus on product innovation and ? Analyzers- focus on at least two different product ? Reactors- lack a consistent strategy-structure- market opportunities market areas culture relationship
- 4. Hypercompetition Creates a condition of disequilibrium and change ? Competitive advantage comes from: ¨C ¨C ¨C knowledge of environment willingness to take risks Cannibalization of own products
- 5. Key success factors- variables that can significantly affect the overall competitive positions of companies within an industry Industry matrix- summarizes the key success factors within a particular industry
- 6. Using Key Success Factors to Create an Industry Matrix Competitive intelligence (business intelligence)- a formal program of gathering information on a company¡¯s competitors ? ? ? ? Sources of competitive intelligence: Information brokers Internet Industrial espionage Investigatory services
- 7. Monitoring Competitors for Strategic Planning Primary activity of competitive intelligence is to monitor competitors Competitors organizations that offer same, similar, or substitute products or services in the business areas in which a particular company operates
- 8. ? Forecasting is based on a set of assumptions ? Faulty underlying assumptions are the most frequent cause of forecasting errors Useful forecasting techniques ? ? ? ? Extrapolation Brainstorming Expert opinion Industry Scenario
- 9. THANK YOU