New Competitive Intelligence Benchmarking Report: Right Structure & Alignment With Company Leaders Is Crucial for Optimal CI Output
The Competitive Intelligence unit plays a vital role by providing senior management and key decision makers with actionable information they need to respond strategically to external change. However, CI is a relatively new corporate function, often underdeveloped and undervalued; at most companies the CI group was established only in the last five years.
To be effective, a CI group needs an environment that includes proximity to key customers and/or executives, opportunities for frequent interaction with stakeholders, direct management by an executive champion, functional independence and a seat at the decision table.According to a new study, “Building & Sustaining Impactful Competitive Intelligence Organizations,” by benchmarking leader Best Practices, LLC there is no cookie-cutter approach to structuring CI groups for high performance; rather it is “the emphasis and direction senior leadership place on CI [that] determine the best placement,” states one interviewed executive. However, to achieve better alignment with company decision-makers, 47 percent of companies prefer fully centralization of their CI group.
The comprehensive report, online with a complimentary summary at http://www3.best-in-class.com/rr841.htm, is focused on several major topic areas: (1) creating and communicating CI value, (2) optimal structure and alignment, (3) resource levels, (4) key primary and secondary intelligence sources, (5) high impact CI activities, and (6) effective stakeholder relationships.
Insights and metrics were collected from surveys and in-depth interviews with CI leaders across industries, including Amgen, Boehringer-Ingelheim, Boeing, Citigroup, Eli Lilly, Fidelity Investments, IBM, Kraft, LexisNexis, Merck, Motorola, Novartis, Procter & Gamble, Raytheon, Roche, Sanofi-Aventis, SAS, and Wyeth. Data is presented for the full benchmark class and the pharmaceutical segment.
Sample findings around structure and alignment of the CI group include:
— 64 percent of benchmarked companies have standalone CI departments.
— 26 percent of CI groups report to either strategic planning, 26 percent to marketing and 22 percent report to market research.
— On average, there are only 2.7 levels of management between the CI head and the CEO, which helps achieve greater proximity to company decision-makers.
Download additional findings in the complimentary report summary at:
http://www3.best-in-class.com/rr841.htm or contact our Solution Specialists at (919) 403-0251 or
bestpractices@best-in-class.com.
If you would like to speak to us about how our research can benefit your Competitive Intelligence Organization or other initiatives in your company, please 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 via http://biz.yahoo.com/prnews/070815/clw055.html?.v=98
