CEOs & Board of Directors
ABOUT COMPETITIVE INTELLIGENCE
Think beyond. Act accordingly.
Strategic Intelligence is a coordinated activity of research, analysis and distribution of information necessary to make strategic decisions.
When strategic decisions are driven by anecdotes, executive intuition and past experience, companies run the risk of making decisions based on biased information. A structured process exists to implement within a company the tools necessary to guide managers and top management when making strategic decisions.
Here are indications that those processes are not well-mastered in the organization:
- Decisions based on anecdotes rather than facts
- Over‐emphasis on “obvious” competitors
- Inability by the executive team to make significant strategic decisions rapidly
- Resistance to question/challenge the existing business model
- Major market shifts have not been anticipated by management
Competia works directly with boards, individual board members and their strategic committees, or with executive teams to provide guidance, and specific tools to create the space for this strategic discussion.
COMPETITIVE INTELLIGENCE FOR THE BOARD OF DIRECTORS
As a board member, you can be held responsible for identifying where the executives might have underestimated a strategic risk, or where they are failing to see a strategic opportunity. You are routinely expected to be a strategy guru, without the relevant tools and support. In a recent article Hays Management revealed that most CEOs simply present strategy theory to the board, rather than engage members on strategic issues.
A McKinsey survey found that corporate directors,
“Want to spend more time on long-term strategy and less time on short-term matters such as ensuring that quarterly earnings will consistently meet market expectations.”
Competia has developed a systematic approach to examine a company’s strategy and lead a discussion around potential “blindspots” – untapped opportunities, or overlooked risks.
Check out these articles about the crucial role of boards in strategy:
- Making the Board More Strategic – McKinsey Quarterly March 2008
- A New Tool for Boards: The Strategic Audit – Harvard Business Review July-August 2005
- Hidden Flaws in Strategy – McKinsey Quarterly, May 2003
COMPETITIVE INTELLIGENCE FOR CEOS AND PRESIDENTS
The power to act, not react.
Setting up a Competitive Intelligence process in your organization will allow you to:
- Ensure decisions are based on facts not anecdotes
- Have a discussion partner that will provide a check and balance to YOUR decisions
- Add value to the market information circulating within your company with analysis and insights
- Allow your management team to be more pro-active rather than reactive to events or changes in your competitive landscape
- Look at your growth strategy in a structured manner
“My role is to facilitate this process, and these discussions – I am not a substitute to your management team, and would never run a competitive analysis on your behalf – but will transfer the knowledge about HOW to do it.”- Estelle, Competia
Engage. Understand. Act. The Competia Advantage.