Competitive Intelligence
What is Competitive Intelligence (CI)?
It is the use of publicly available information about your competition that can help you gain a business advantage. Unlike market surveys, press articles or your own field sales reports that typically recount past activities, CI includes predicting a competitor's next move and becoming aware of change as it happens, before it is too late to act.
Learning which employee of yours a competitor may be trying to hire (or manipulating to gain your trade secrets), what initiatives or technologies a competitor may be introducing within the next few months that will dramatically change your customer perceptions, what kind of pricing deals your competitor is using to rob you of business, or rumors a competitor may be feeding your suppliers, customers and potential partners, are among typical situations CI attempts to uncover.
CEO's Understand Why Competitive Intelligence is Important. At a 1999 international conference in Montreal on Competitive Intelligence, John Pepper, current chairman (and past CEO and president) of Proctor & Gamble, said "I can't imagine a time in history when the competencies, skills and knowledge of the men and women in competitive intelligence are more needed and more relevant to a company being able to design a winning strategy and act on it." "I can't imagine a company not realizing the fundamental need for this today."
Defining Your CI Needs. For a nominal fee, an RNI consultant will meet with you to help you define your organization's specific needs. Based upon those needs, RNI will submit a proposal to you. In most cases, the proposal will consider both internal and external steps that can be taken to enhance your intelligence gathering on a regular basis.
When engaged to assist you, RNI will empower you with current data including competitor initiatives, technological advances and deep backgrounds on the key players among competitors, customers, suppliers and potential partners. At all times, RNI investigators pursue only information that may be gathered legally and ethically.
Six Intelligence Truths.
1.
Be aware that useful intelligence has a short shelf life.2.
Be alert for offbeat intelligence sources (such as counting vehicles in a parking lot to verify number of employees).3.
Be aware of the enemy within. For instance, employees, like citizens or soldiers, can be manipulated by your rivals into giving away secrets.4.
Collecting many little pieces of information is better than one large piece.5.
Your company should have its own intelligence gathering process; however, expert intelligence collectors should be employed to provide the harder to gather information.6.
Your company's sales force should be part-time intelligence agents.
About Research North, Inc. Business Investigators.
Research North, Inc. investigators have been working on behalf of the business community long before the phrase "Business Intelligence" or "Competitive Intelligence" was ever used to describe such a process. Since 1981, RNI investigators have gathered actionable intelligence to assist business clients gain competitive advantages in their marketplaces. One of RNI's first business projects was for a Fortune 100 company experiencing product diversion through its wholesaler network. Not only was the diversion eliminated, but RNI investigators consulted on how to turn this initial loss into a long-term competitive intelligence gathering advantage. Since that time, RNI investigators have tailored many investigations and intelligence gathering strategies to each client's needs.
RNI business investigators work under the direction of Competitive Intelligence Business Consultant, Charles W. Rettstadt and Online Investigations Specialist and Financial Investigator, Patricia L. Lance.
Charles W. Rettstadt, President and founder of RNI, has a master of
arts degree in both criminal justice and public administration. His
practical experience includes two years as a police officer, three years
as an armed forces criminal investigator and ten years as a Special
Agent with the Michigan Attorney General's Office, Organized Crime Division.
He is the author of manuals on public as well as private investigations,
and he has been qualified in federal court as an expert witness on acceptable
investigation practices in Michigan. He has been interviewed on radio,
spoken to focus groups, and he has written many articles on business
fraud. Charlie is licensed by the states of Michigan and Wisconsin
to operate an investigative service, he is a certified fraud examiner,
and he is a licensed insurance adjuster. Charlie has extensive
experience in business matters, white collar crime, labor racketeering
investigations involving union organizing, contract negotiations and
benefit plan abuse. He is of a member of a number of professional organizations,
including the Society of Competitive Intelligence Professionals.
Patricia L. Lance, Online Investigations Specialist and Financial Investigator, has a varied professional, educational and
personal
background, which has proven to be beneficial in gathering information to meet clients' needs. She has a dual degree in Systems Analysis and Microcomputer Management, in addition to twenty years of management and leadership experience, which includes several years in the automotive industry where she was involved in union contract negotiation and conflict resolution. Electronic information gathering is changing daily, and Patty is most expert at gathering all types of business-related information either through new or well-established databases as well as on the ever-changing Internet. In addition to her academic skills, she has spent many years as both a teacher and student of martial arts which has earned her the rank of Second Degree Black Belt and Top-Ten World Competitor.