Best Practices, LLC News

Build and Maintain an Effective Competitive Intelligence Group

CHAPEL HILL, N.C., June 18 PRNewswire — A CI head once noted that, "Competitive Intelligence is like oxygen. You have to have it, but the only time you realize you need it is when it is in short supply."

In today's marketing space, most companies need competitive intelligence to effectively deal with a turbulent business environment, it is when the key insights are lacking that people begin to realize how critical competitive intelligence is in helping with:

* Identifying and supporting the company's key decision makers * \"Connecting the Dots\" for corporate leadership * Evolving the group toward increasingly strategic activities and output

By delivering high-impact analyses on competitors' products and operations, a high-functioning Competitive Intelligence group can alert organizations to emerging market opportunities as well as warn them about potential external risks.

Best Practices' comprehensive study covers everything from building well-structured CI groups to developing high-impact CI activities and effective stakeholder relationships. The benchmarking study includes more than 500 metrics, including staffing and salary metrics. In addition to helping executives understand how to build an effective CI program, the study presents proven methods for increasing the quality and value of an existing CI group.

The report presents data for the full benchmark class and pharmaceutical segment and is based on insights gathered from 54 companies representing more than 12 different industries. Participants included Amgen, Boeing, Eli Lilly, Fidelity Investments, IBM, Merck, Procter & Gamble, Kraft and Wyeth.

A complimentary summary of "Building & Sustaining Impactful Competitive Intelligence Organizations" is available at http://www3.best-in-class.com/rr961.htm or contact Cameron Tew, Manager of Research and Publishing at Best Practices, LLC at (919) 767-9246 or ctew@best-in-class.com.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for nearly 15 years; our clients include 43 out of the top 50 pharmaceutical companies.

SOURCE Best Practices, LLC

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