CONTROL YOUR DESTINY OR SOMEONE ELSE WILL!

This month I asked Chris Scott - an Associate here at MindShifts if he'd like to write the content for our monthly Monday Motivation.

CONTROL YOUR DESTINY OR SOMEONE ELSE WILL!

Corporate scandals continue to happen and remain one of the greatest worries and risks for any board or organisation. It may be through the self-interest of directors, a failure to recognise risk, or simply poor decision-making that can lead to these devastating events of varying degrees. 

Taking control of your destiny and using Competitive Intelligence is critically important in determining:

1. How your business can more effectively compete, and; 

2. How it can deliver better value to your stakeholders. 

Competitive Intelligence brings a systematic practice to capturing and analysing information that provides unparalleled insights about competitors, the competitive environment, and predictable trends. And by engaging in this process it drives clearer, more measurable, and actionable solutions; thereby providing significantly greater decision-making insights. 

Many organisations worldwide use Competitive Intelligence to generate greater understanding into the internal and just as importantly the external environment in which they operate.  And in this way make better choices to be stronger, agile, and more profitable in their industry sector.  

As we know, boards and executives are constantly 'bombarded' with challenges and opportunities, and as recently as a year ago, few business leaders were prepared for, trained for, or could have planned for the current environment. Further compounding this is the expansion of the digital world, no matter what kind of business you run, no matter what size you are, you're suddenly competing against companies you've never heard of, from across the country to round the world. 

So, when you create a Competitive Intelligence culture in your organisation you will be gaining insight into information critical to your success from a source outside your traditional approach.  Enterprises with a Competitive Intelligence culture have achieved significantly greater insights into revenue growths, product and service developments, and operational efficiencies. This knowledge has allowed them to tap into cost savings and operational improvements that have demonstrated value and delivered on important innovations and growth.

Therefore, having a Competitive Intelligence culture in your organisation gives you a competitive edge, with greater business insight into better decision making that can gain sustainable market growth and avoid corporate failures. 

If you would like to take a deeper dive into the absolute power of Competitive Intelligence please get in touch with either myself or Chris.