Advantage Of Competitive Intelligence

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The concept Competitive Intelligence has a rich tradition (Juhari and Stephens, 2006), and it has strong bases in military science and holds a rich history dating back to more than 5,000 years (Tao and Prescott, 2000).. In the recent history, especially in the management field, this concept has been examined for many times under different titles. For example, Aguilar (1967) and Fahey and King (1977) invented the phrase environmental scanning, which concentrated on how the executives scan their organizations’ environment. Likewise, over time other labels have been utilized in prior studies to identify competitive intelligence. Like: • Business intelligence (Cleland and King, 1975; Pearce, 1976). • Competition analysis (Ghoshal and Westney,…show more content…
In center, Competitive Intelligence helps strategists to understand the forces that act upon the business environment and, more significantly, to develop appropriate designs to compete successfully (McGonagle and Vella, 2002). Guimaraes (2000) provides us with a summary of the benefits of Competitive Intelligence practice in strategic planning: bringing to light business opportunities and problems that will enable proactive strategies; providing the basis for continuous improvement; omit light on competitor strategies; improving speed to market and thereby supporting rapid globalization; improving the possibility of company survival; increasing business volume; providing better customer assessment; and improving understanding of external influences . For the present research, Competitive Intelligence is defined as a “Systematic and ethical process for gathering, analyzing and managing external information that can affect the company plans, decisions and operations (Saayman, et
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