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Thanks for invite .... SWOT can fit and gives you many many answers
PESTEL analysis usually gives us a realistic picture of the market and its circumstances, hence, we can enter the market with a more calculated approach.
by know the weakness for other and develop ur self to challenge them and beat them
Competitive intelligence is defined as the process of developing actionable foresight regarding competitive dynamics and non-market factors that can be used to enhance competitive advantage. The process of Competitive Intelligence (CI) involves the development of intelligence products, their flow to decision makers on a timely basis, and the incorporation of said intelligence into the decision making process. The tripartite activities of CI do not occur naturally, but must be managed as a core business process to achieve strategic advantage.
While there was evidence that CI efforts assisted in the sharing of ideas, sensitized managers to the value of addressing competitive dynamics, identified new business opportunities, and avoided surprises, there was a lack of consensus on how it influenced the bottom line and whether it was user-oriented (Prescott & Fleisher, 1991; Bardnt, 1994). One technique that addressed the issue was benchmarking. Benchmarking grew in popularity because it was a focused activity that had become an integral part of the quality movement and had a demand as opposed to a supply-driven orientation. That is, managers who want to address a particular issue commission benchmarking studies. The user (demand driven) directs what the CI analysts (suppliers) do. By focusing CI on benchmarking activity, CI analysts were able to address the bottom line issue in a manner that was more tangible than other outcomes such as predicting the effects of industry evolution.
Data analysis is extensive with qualitative input often dominating quantitative data. The intelligence is integrated directly into strategic decisions often through sophisticated information systems. Top management uses CI as one of the ways it shapes the future of the organization and considers it an integral part of the “learning” organization. Thus Competitive Intelligence becomes inseparable from the Strategic Planning. One will not exist without the presence of other.
