WK 2 - DQ 3 - services will help you know what areas you...

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MGT/498 – Strategic Management University of Phoenix Professor:  TUGTEKIN GOKAYDIN Katie Williams 12/10/2011 Week 2 – Assignments Discussion Question #3: What is the purpose of competitive Intelligence and how is it performed? Well from what I understand from this week’s reading materials, I would have to say that According to (Wheelen, & Hunger, 2010, p. 120), “Competitive intelligence is a formal program of gathering information on a company’s competitors. Often called business intelligence, it is one of the fastest growing fields within strategic management.” Now that we know what Competitive Intelligence is, let us move on to how what the purpose of Competitive intelligence is. Personally, I think the main purpose of competitive intelligence is for the organization to have a sense of what direction their competitors are headed in and how exactly they might integrate this information into their own company to compete with their competitors. I also think having an understanding of your own company’s product or
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Unformatted text preview: services will help you know what areas you need to improve in, which in turn will help you keep ahead of your competitors. Also, researching your company’s main competitors will help you keep your own company on its toes in order to stay one step ahead of your competitors. Know that we know what competitive intelligence means, and what its purpose is, let us move on to how it is performed. I think that when a company or organization does the proper research on their competitors they are indeed using competitive intelligence in one way or another. To sum it up, when a company is using competitive intelligence they are trying to keep their products or services ahead of their known competitors’ products and services. References: Wheelen, T. L., & Hunger, J. D. (2010). Concepts in Strategic Management and Business Policy: Achieving Sustainability (12th ed.). Upper Saddle River, NJ: Prentice Hall....
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