Brushing up HBR fundamentals will provide a strong base for investigative reading. Often readers scan through the business case study without having a clear map in mind. This leads to unstructured learning process resulting in missed details and at worse wrong conclusions.
Gathering Competitive Intelligence Have you ever made the wrong decision because you had inadequate information? Have you ever found yourself falling behind the competition and wondering how it happened? Have you ever wondered if there were new markets, sales channels and breakthrough communication programs that could take your product to the next step in sales and profits?
If so, you need competitive intelligence CI.
Many managers will argue they have plenty of information about their industry, competitors, customers and marketplace. So how is competitive intelligence different? The difference is that CI manages information so it becomes the knowledge you need for foresight.
The question all business owners should be asking themselves is not whether they need CI, but rather can they succeed without it? The purpose of CI is to make the best decisions based on the best available knowledge on a given subject.
The rules have changed: The stakes are higher, the game is faster, and the risks associated with bad decisions greater. CI is Td canada trust swot analysis practice of gathering, analyzing and disseminating information on what the marketplace requires demandabout how you and your competitors meet these requirements supplyand how each strives to meet market needs better than the other competition.
The intelligence is then used to help make decisions about the future direction and growth of the company. The right answers come from asking the right questions, and foreseeing events comes from looking ahead.
This is why CI exists and is growing. Knowing what is going on in the marketplace and how it will impact you is the key to market leadership.
|Step 1 - Reading up Harvard Business Review Fundamentals on the Leadership & Managing People||Gathering Competitive Intelligence Have you ever made the wrong decision because you had inadequate information? Have you ever found yourself falling behind the competition and wondering how it happened?|
|Scotia Bank by Justin Szostak on Prezi||Timetric strictly follows a standardized research methodology to ensure high levels of data quality and these characteristics guarantee a unique report.|
This knowledge will help your firm become a strong competitor and seize the market first. The end result is a better chance of lasting success.
Then, promptly use that knowledge to take advantage of opportunities and avoid threats. It should be clear now that whenever you have an important decision to make about the future, you could use the kind of knowledge that CI provides.
Many managers rely on their years of industry experience to make key business decisions that are often based on instinct or "gut feelings. These state-required filings of assets and loan collateral can often tell you how much of a capital investment a competitor is making, the kind of equipment purchased and the manufacturer.
A quick call to the manufacturer can tell you what the equipment is used for, and, therefore, what kind of new activity a competitor is financing.
Other sources of CI include internal and external sources.
Internal sources include those pieces of information you and your employees need to do your jobs, such as technical papers, competitor sales literature, press clippings, annual reports, and the like.
External information would include information found in proprietary databases like Biz dvantage, Lexis-Nexis, Dialog and DowJones, to name a few well known resources. Information also comes from primary and secondary sources. Primary sources are the originators of the information, and often you must interview the source to get the desired data.
Secondary sources represent information that has been filtered through somebody other than the originator of the data, such as news stories and stock analyst reports. CI professionals also differentiate between hard and soft information. Hard information is quantitative, like facts, statistics, raw data, financial information and hard news stories.
Soft information is qualitative, and includes rumors, opinions, anecdote and customer feedback. Which is more important, information gathering or analysis? Data gathering fans say that you must know where the information is and ask the right questions to get everything available.
It must be integrated and analyzed into graphs and charts and other information interpreters so that it can be acted upon. Then, there is a third group that believes each is equally important because if either is flawed, the other will compensate. Analysis can be as simple as developing charts and graphs to show information relationships, or it can be as sophisticated as SWOTanalysis, scenario developing, and benchmarking.
Back to Outline II.What is a SWOT Analysis? It is a way of evaluating the strengths, weaknesses, opportunities, and threats that affect something.
See WikiWealth's SWOT tutorial for help. SWOT ANALYSIS SWOT Analysis for Studio An Organic Resturaunt Business Oscar Barraza University of Phoenix SWOT Analysis I chose to do a SWOT analysis on the business plan of Studio 67 which is a trendy organic medium size restaurant located in Portland, Oregon.
SWOT stands for Strength Weakness Opportunities and Threats. Conducting a SWOT Analysis A SWOT Analysis takes is a method for examining the S trengths, W eaknesses, O pportunities, and T hreats facing a business.
It can give you insight into your company's position in the competitive arena. Browse marketing analysis of more brands and companies similar to TD Bank Financial Group (Toronto Dominion).
The BrandGuide section covers SWOT Analysis, USP, STP & Competition of more than brands from over 20 categories. The Toronto-Dominion Bank (TD) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations.
The profile has been compiled to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and initiativeblog.com: € Toronto Dominion (TD) SWOT Analysis Profile The Toronto-Dominion Bank offers retail and commercial banking, wealth management, and wholesale banking services internationally.
The Canadian Personal and Commercial Banking segment serves personal and small business customers through some 1, branches and 2, .