According to a new study by Cutting Edge Information, competitive intelligence teams struggle to gain organizational visibility, leaving them vulnerable to extinction. It stems from being buried in the company structure. Poor visibility makes competitive intelligence teams expendable to their superiors when it comes time for budget cuts. This study dissects the structural limitations that competitive intelligence teams often face and provides real-world solutions to elevate competitive intelligence to a more visible position within the company. One of the key findings is that companies must remove competitive intelligence teams from under the market research umbrella, which often buries competitive intelligence deep within the organization and stifles their organizational voice.
Budgets and Staffing are Not Rising Fast Enough
When competitive intelligence teams are buried within the organization, they often fall victim to heavy budget cuts or cease to exist all together. The study reveals examples of why competitive intelligence teams are most commonly subjected to budget cuts. Too often, when competitive intelligence teams are buried under another department -- market research -- the overarching department will protect its budget before the competitive intelligence budget. The report provides solutions to avoid these situations.
Many Executives are Making Uninformed Strategic Decisions
Many executives are making under-informed strategic decisions and competitive intelligence is not always looped into top-level choices. This report provides support for the value of competitive intelligence. The decision support that competitive intelligence provides is incomparable and cannot be replaced by market research, for example. This study emphasizes how competitive intelligence teams can get their recommendations into the hands of company leaders.
A Typical Downsizing “Cycle” Lasts About 5 Years
The typical competitive intelligence team will find itself in a cycle of ramp ups and then drastic cuts in resources. Competitive intelligence teams often struggle to remain in place for very long. This sine wave of ramp ups and downsizing that competitive intelligence teams are on is nothing new. It’s a persistent problem that companies will only be free of when they choose to elevate their competitive intelligence function and provide it more autonomy. This report provides best practices, data and real-world case studies to support a more independent competitive intelligence structure.
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