Importance Of Competitive Intelligence Research Articles

A game theory competitive intelligence solution stimulated from a Stackelberg game: A three players scenario

Competitive Intelligence (CI) involves systematically gathering information about the competitive landscape to anticipate rivals’ decisions and secure a strategic advantage. As academic interest in CI grows, the existing literature reflects a diverse body of knowledge. However, few works address the practical aspects of CI comprehensively, presenting viable solutions to its challenges. The motivation behind this paper is not only the scarcity of practical studies on CI but also the importance of CI and its benefits within companies, including improved decision-making and its positive impact on performance and sustainable growth. This study aims to contribute to the literature by proposing a CI solution grounded in game theory. We assert that applying game theory to CI is both intuitive and natural, given that the competitive environment readily lends itself to a game model. Viewing competitors as players, each striving to maximize profit, aligns seamlessly with game theory principles. We chose to consider a scenario with one initiator and multiple followers and model it as a Stackelberg game within the extensive form game framework. The literature review showed that the computational complexity of Stackelberg Equilibrium becomes NP-hard in most game classes with more than two players. This challenge encouraged us to contribute to the literature and focus on a scenario with two followers (three players), modeling the game in the extensive game form. To find a solution to this challenge, we used a modified version of the backward induction algorithm. To assess our solution’s efficacy, we conduct tests on 26 games (26 data instances), comparing results with those obtained using CPLEX and Decision Tree, and MiniMax methods. The ensuing pairwise sign test establishes the competitiveness of our outcomes. This research significantly contributes to the CI literature, offering a game theory-based solution and demonstrating its practical applicability through evaluation.

AI-Driven Competitive Intelligence: Enhancing Business Strategy and Decision Making

In the world of business, the importance of competitive intelligence cannot be overdone. As companies compete for market share and seek to gain an edge over their competitors, understanding the market and their competition becomes increasingly critical. As artificial intelligence continues to evolve, its potential to impact competitive intelligence grows.

БИЗНЕСНИ БОШҚАРИШДА РАҚОБАТ РАЗВЕДКАСИНИНГ ЎРНИ ВА АҲАМИЯТИ

The The article explains the essence of the concept of "competitive intelligence". The author emphasizes the role and importance of competitive intelligence in business management. On the basis of theoretical research, the author has clarified the meaning of the concepts of "business intelligence", "business intelligence", "economic intelligence", "commercial intelligence".

Strategic Marketing: The Importance of Competitive Intelligence in the Decision-Making Process for Strategic Marketing

Corporations' underlying principles have altered dramatically as a result of advances and threats over the previous two decades. Internal and external pressures on businesses have made it necessary for them to keep a careful eye on their surroundings, either to maintain competitiveness or to learn more about potential threats and opportunities. This study aims to determine if and how competitive intelligence might benefit small and medium-sized enterprise (SME) owners in the Kurdistan region of Iraq. Researchers evaluated the direct influence of competitive intelligence on strategic marketing decisions made by SMEs by focusing on five different types of intelligence: market intelligence, competitor intelligence, customer intelligence, partnership intelligence, and technical intelligence. The researchers also used the embeddedness of competitive intelligence as a moderator to assess the effect of competitive intelligence on marketing strategies. The research team used hierarchical multiple regression and the Sobel test to analyze the impact of competition information on the marketing strategies of SMEs in the Kurdistan region of Iraq. Nonetheless, the study quantified the direct influence on strategic marketing decisions made by SMEs by employing five distinct categories of competitive intelligence (market intelligence, competitive intelligence, customer intelligence, partner intelligence, and technical intelligence). Additionally, researchers used competitive intelligence as a mediator to evaluate the impact of competitive intelligence on strategic marketing choices. The study found that in all areas of competitive intelligence (market intelligence, competitor intelligence, customer intelligence, partner intelligence, and technical intelligence), competitive intelligence has a direct and ingrained effect on the strategic marketing decisions made by small and medium-sized businesses.

Competitive intelligence as a game changer for Africa’s competitiveness in the global economy

This article presents a “competitiveness intelligence” conceptual framework developed from a literature review for adaptation by African countries to improve their competitiveness in the global economy. The role of competitive intelligence in national competitiveness has been shrouded with a lot of controversy in this era of trade liberalisation, globalisation and the fourth industrial revolution. We see Africa’s poor performance in the global competitiveness rankings. Research findings, however, show a positive nexus between competitive intelligence and competitiveness, though not much is known pertaining to Africa. The presented conceptual framework will, however, act as a catalyst for the adoption of competitive intelligence by African countries to improve their performance in the global economy. This article is of great importance to policymakers, researchers and academia. Furthermore, given the history and importance of competitive intelligence in economic development, the conceptual framework has the potential to inspire many African countries through subsequent adaptions.

Inteligência competitiva em organizações de serviços: uma revisão sistemática da literatura

É crescente a importância do setor de serviços na economia mundial. Diante de um mercado dinâmico e globalizado, marcado pela concorrência acirrada, a inteligência competitiva – IC pode auxiliar as organizações de serviços no processo de tomada de decisão e na concepção de vantagens competitivas frente aos concorrentes. Nesse contexto, este trabalho tem por objetivo delinear o estado da arte relativo à utilização da inteligência competitiva em organizações do setor de serviços, através da pesquisa e análise de artigos presentes nas principais bases de dados. Este estudo possui caráter teórico-conceitual, compreendendo uma revisão bibliográfica sistemática da literatura, incluindo uma análise bibliométrica e análise de conteúdo. Foram levantadas publicações em periódicos indexados pelas seguintes bases condizentes com o tema da investigação: Web of Knowledge, Scopus, Ebsco, ScienceDirect, e Engineering Village. Os resultados permitem inferir sobre a importância sobre o tema inteligência competitiva para a sobrevivência e aumento da competitividade em organizações de serviços. Por fim, verificou-se a existência de uma lacuna relacionada a estudos prescritivos, com foco em investigações aprofundadas sobre o tema abordado, sendo este tipo de estudo relevante para que a área atinja maturidade.

Competitive Intelligence Information: A Key Business Success Factor

Competitive intelligence (CI) plays a significant role in business management and practice. Management of companies have relied on competitive intelligence information to support decisions to give them an edge over their competitors. Companies use intelligence information to stay abreast and be in tune with the business environment. The purpose of this study is to understand the role of CI, the sophistication and intensity attached to it and examine the degree of knowledge of the processes in a firm. The exploratory study used triangulation and a survey to meet its objectives. Due to the sensitivity of the schedule, only 15 personnel were assigned to this task in the organization. The results indicate that XYZ Company is aware of the role and importance of CI but it is yet to fully utilize its potential. A major finding is that no single coherent CI process is being followed but rather a series of ‘adhoc’ measures are used. This implies that there is the need to develop systematic procedures for generating CI data and streamline the processes used in analyzing such information.

The impact of work experience of small and medium-sized enterprises owners or managers on their competitive intelligence awareness and practices

Background: Information technology has assisted in globalisation, which then assisted in making international trade easier. Consequently, businesses no longer compete with local competitors only but also with international ones, leading to intense competition in all business sectors. Businesses will hardly practice what they are not aware of and therefore needs to know about their competitive landscape. Competitive intelligence (CI) gathers information from both the internal and external business environments, and analyses these for use by decision makers. Whilst awareness of the importance of CI is wide, it is not practiced optimally, making the need for creating awareness of the benefits of CI important.Objectives: The objective of this research was to establish the influence of owners’ and managers' working experience of CI practice and awareness in the small and medium-sized enterprises (SMEs) environment.Method: This research was quantitative in nature and a questionnaire was used to collect data from SMEs owners and managers in The City of Tshwane Metropolitan Municipality.Results: This research indicates that SMEs in the study are aware of CI through education and training. Moreover, the study reveals that the working experience of owners and managers has a great influence on awareness and practice of CI and one should implement training programmes in this domain to assist with building competitive advantage.Conclusion: Small and medium-sized enterprises owners or managers’ years of working experience has a greater influence on awareness and practice of CI. Put differently, years of working experience is a great predictor of CI awareness and practice.

The Relationship between Strategic Planning and Company Performance – A Chinese perspective

What is the relationship between Strategic Planning and Company Performances in Chinese companies? Is there a correlation between Company Performance and the Strategies adopted by these companies, using the Miles and Snow model for Aggressiveness Strategies? And is it possible to say something more about what kind of Strategic Planning gives better Company Performances? We wanted to separate here between the Planning which is related to what is called Competitive Intelligence and other activities related to Planning. The Idea was to be able to say something about the importance of Competitive Intelligence. We also wanted to use more extensive statistical analysis with more variables in light of the criticisms that has been raised about the methodology of previous studies. We found that better planning had a positive effect on a number of key business performance measures. We found that there was indeed a distinction between the different strategies selected and Company Performance. The strategy type named Reactors performed systematically less well than companies who choose one of the other strategies. Moreover we found that there were differences between different planning activities and Company Performance and that activities related to Competitive Intelligence were on the average more important for Company Performance than other Planning activities.

The impact of competitive intelligence and IS support in changing small business organizations

The voluminous body of literature on the management of change, including sub‐areas such as Business Process Reengineering (BPR), Total Quality Management (TQM), and product improvement, implicitly or explicitly propose that company strategic intelligence is a pre‐requisite for change, and that effective information systems (IS) support is a critical requirement for implementing change. While these two hypotheses are exceedingly important, the existing literature contains no empirical evidence supporting them. A field test of how effectively small business organizations are identifying strategic problems and opportunities, how effectively they implement business changes, and use IS technology to do so, was undertaken to empirically test their relationships. Despite the relatively small sample size, the results provide clear evidence about the importance of competitive intelligence and IS support for effectively implementing change in small business organizations. The items used for measuring the main constructs provide further insights into how managers should go about acquiring competitive intelligence and managing IS technology to effectively support business improvements.

Competitive intelligence at LEXIS-NEXIS

Hans Gieskes, president and CEO of the LEXIS-NEXIS Group, described the importance of competitive intelligence (CI) to his company and the ways in which CI is used in his rapidly evolving online information market, in a keynote address to the Society of Competitive Intelligence Professionals' 4th Annual European Conference and Exhibit (held November 4, 1999, in Amsterdam). Some 10 full-time CI professionals are based in various LEXIS-NEXIS business units, and the sales and marketing staffs, in particular, are used to collect competitor data. CI is conveyed through a number of vehicles, including “Rival Reports” and e-mail briefings, as well as through the corporate intranet. CI activities at LEXIS-NEXIS include (1) profiling and monitoring the activities of “traditional” and “nontraditional” competitors, (2) assisting sales by identifying product advantages vs. competitor's offerings, (3) product development support, and (4) alliance and acquisition support. Structured information tools (including the LEXIS-NEXIS database) are employed in conjunction with the corporate intranet to make CI accessible to all employees. At a strategic level, forecasting and scenario analysis are considered key to remaining competitive. © 2000 John Wiley & Sons, Inc.

Exploring manufacturing companies' effectiveness in Competitive Intelligence, IS support and business change

The increase in business competitiveness is forcing manufacturing companies to adopt new technologies to redesign business processes, improve products, and support organisational changes necessary for better performance. The literature on Competitive Intelligence (CI) touts its importance in providing corporate strategic vision to improve company competitiveness and success. To implement their strategic vision (take advantage of strategic opportunities and address problems) manufacturing companies have to implement changes to their business processes, products, and/or to the organisation itself. The voluminous body of literature on the management of change, including sub-areas such as Business Process Reengineering (BPR), Total Quality Management (TQM), and product improvement, implicitly or explicitly propose that company strategic intelligence is a pre-requisite for change, and that effective Information Systems (IS) support is a critical requirement for implementing change. While these two hypotheses are exceedingly important, the existing literature contains no empirical evidence supporting them. Mostly superficial analyses and personal opinions have been published in this basic area. A field test of how effectively business organisations are identifying strategic problems and opportunities, how effectively they implement business changes, and use IS technology to do so, was undertaken to empirically test their relationships. Despite the relatively small sample size, the results provide clear evidence regarding the importance of Competitive Intelligence and IS support for effectively implementing business change. The items used for measuring the main constructs provide further insights into how managers should go about acquiring Competitive Intelligence and managing IS technology to effectively support business improvements.

Exploring the relations between competitive intelligence, IS support, and business change

The increase in business competitiveness forces companies to adopt new technologies to redesign business processes, improve products, and support organizational changes necessary for better performance. The literature on Competitive Intelligence (CI) touts its importance in providing corporate strategic vision to improve company competitiveness and success. To implement their strategic vision (take advantage of strategic opportunities and address problems) companies have to implement changes to their business processes, products, and/or to the organization itself. The voluminous body of literature on the management of change, including subareas such as Business Process Reengineering (BPR), Total Quality Management (TQM), and product improvement, implicitly or explicitly propose that company strategic intelligence is a prerequisite for change, and that effective Information Systems (IS) support is a critical requirement for implementing change. While these two hypotheses are exceedingly important, the existing literature contains no empirical evidence supporting them. Mostly superficial analyses and personal opinions have been published in this basic area. A field test of how effectively business organizations are identifying strategic problems and opportunities, how effectively they implement business changes, and use IS technology to do so, was undertaken to empirically test their relationships. Despite the relatively small sample size, the results provide clear evidence about the importance of competitive intelligence and IS support for effectively implementing business change. The items used for measuring the main constructs provide further insights into how managers should go about acquiring competitive intelligence and managing IS technology to effectively support business improvements. © 1998 John Wiley & Sons, Inc.

Competitive Intelligence: A Status Report on US Business Practices

Recognition of the need for competitive intelligence appears to be widespread and has grown during the past 30 years. However, there appears to have been relatively little change in what is important, in what sources are used and how the information is treated internally. US business seems to recognize the need for competitive intelligence but has not figured out how to use the information effectively or efficiently. In a mail survey, using the Fortune 1000 industrial companies list and the Fortune 500 service companies list, the author describes the changing perceptions, use of and emphasis companies put on the importance of competitive intelligence over three decades.