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WITI LEADERSHIP

Leadership Skills: Understanding the Competition (Part 1 of 2)
By Marian Cook



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Below are a few quick high level CI tips for the non-CI professional. These should enable you to participate and anticipate in ways that others in your company can’t.

Before you get started:
    1. Understand who your competitors are. Sometimes they are obvious, other times not. Expand your thinking to include non-traditional competitors that might be able to play in your sandbox.

    2. What is the scope of the competitive information you are looking for? One product, one division, one company or an industry?

    3. To make the competitive information relevant, you need to understand your own organization. For all of the competitive information and sources we list later in the article, make sure you are knowledgeable of your own firm in the same areas so useful comparisons and conclusions can be made.

    4. Determine how to analyze the information. Do you simply pass it on, or should you synthesize it in some way, such as a comparison grid or SWOT analysis (strengths, weaknesses, opportunities and threats)?

    5. Determine what you want to do with the information. You may want to save it to bring up at key meetings, or create a distribution list.

    6. Keep in mind that information is much more readily available for US companies versus foreign ones.