A process that involves comparing and examining an organization’s processes and practices with other organizations that are considered top performers with the intention of improving performance. Benchmarks that are set may be internal (within one’s organization), external (against another organization), or functional (against a similar function outside one’s industry)

Bi-cultural

Bicultural individuals successfully integrate into and participate in important aspects of two cultures, values, and belief systems. Using such people in competitive intelligence in China is especially valuable in project planning, management and implementation.

Brand Reputation

The mental model that your customers, prospects, employees, partners and other stakeholders have of your company, its products and its services.

China Research Toolkit

The Toolkit brings together a wealth of valuable information and guidance on its use in a single source. It includes databases on Chinese companies, economic information and statistics, search engines and social networking sites. All the sources are reviewed, giving recommendations and any limits on their use. The toolkit then delivers some valuable insights and cultural considerations for conducting primary research in China.

Competitive Intelligence

The ethical practice of researching and analyzing the competitive environment in which an organization operates. Competitive intelligence is a systematic program that supports the strategic or tactical decisions that an organization makes. CI can involve the examination of current and future decisions, actions, or conditions regarding its rivals, suppliers, market, and other aspects of its industry.

Competitor Intelligence

A subset of competitive intelligence, competitor intelligence involves the research and analysis of a rival, versus other aspects of the competitive environment.

Competitor Matrix

A chart that compares your product or service to your competitor(s). A competitor matrix is an analysis tool that helps you establish your company's competitive advantage. It provides an easy-to-read portrait of your competitive landscape and your position in the marketplace. The matrix can be just a simple chart. In the left column, you list the main features and benefits of your product or service. On the top row, you list your company and the names of your competitors. Then fill in the chart with the appropriate information for each company.

Desk Research

Research conducted in the office, usually applied to refer to literature and online research. For more information on the best desk research sources for China studies, see our China Research Toolkit

Ethics

Ethics has been a long-held issue of discussion amongst competitive intelligence (CI) practitioners. Essentially, the questions revolve around what is and is not allowable in terms of CI practitioners' activity. Competitive information may be obtained from public or subscription sources, from networking with competitor staff or customers, or from field research interviews. Competitive Intelligence research is distinguishable from industrial espionage, as CI practitioners generally abide by local legal guidelines and ethical business norms. There is a strict code of ethics followed by reputable CI practitioners, laid down by the Society of Competitive Intelligence Professionals (SCIP). This includes the stipulations that CI professionals:

must abide by all applicable laws - whether domestic or international. Thus bugging, bribery, and other such illegal practices would be a serious breach of the ethical code.

must accurately disclose all relevant information, including one's identity and organisation, prior to all interviews. This ensures that primary research is conducted ethically without misrepresentation. As such it also limits what can be done - and attempts to gain information through lies about one's identity would be viewed as industrial espionage. At the same time, the code of ethics recognises that it may not be in the interests of the research to declare the ultimate purpose for which the information is being gathered - hence it is only required to disclose relevant information to sources such as one's identity, organisation, etc. It is not a requirement to say who the ultimate client is, and so many organisations employ consultants who can be totally honest about who they are while keeping their client's name confidential. Such consultants will say that the information is being collected as part of a benchmarking or industry study, for example. What is not said is that the benchmarking study is being done only on competitors to the client!

must provide honest and realistic recommendations and conclusions in the execution of one's duties. Competitive Intelligence can sometimes uncover unpleasant truths that companies would prefer not knowing. At the same time, not knowing could lead the organisation to failure. CI Professionals need to communicate both the good, and the bad - strengths and weaknesses - even in cases when management would rather stay in ignorance. Further, along with the message, the CI professional should use their understandings to provide suggestions and recommendations for action. If the intelligence gathered is not used but ignored it has no value. As a result, competitive intelligence is a key discipline in enabling companies preserve and gain competitive advantage in their business environment.

Many companies are concerned about keeping their practices above board. One of the ways to ensure this is through internal training and providing employees with clear-cut, written policies (such as in the employee manual) as to what is acceptable practice.

Industry Profile

A profile or study of an industry. A profile may be applied toward analysis in order to produce intelligence. Profile elements provide a description of an industry’s key players, key associations structure, and developments.

Insight

The capacity to discern the true nature of a situation or the act or outcome of grasping the inward or hidden nature of things or of perceiving in an intuitive manner. This combination is essential if information and data is to be processed in a way which informs business strategy.

Intelligence Brief

Preparatory information collected from the intelligence user/client during the in-take or needs-assessment phase of an intelligence project. The intelligence brief includes the requirements, topics, and questions that will drive the intelligence project.

Intelligence Briefing

A concise written or oral presentation that presents the findings, implications, and recommendations from an competitive or market intelligence project.

Interpretation

Opinion regarding a set of facts. A degree of subjectivity is involved on the part of the individual, based on his or her experience, personality, and biases. Something that serves to explain or clarify a situation.

Marketing

Management process through which goods and services move from concept to the customer. As a philosophy, it is based on thinking about the business in terms of customer needs and their satisfaction. As a practice, it consists in coordination of four elements called 4P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy.

Market Intelligence (MI)

Research and analysis of the market environment in which an organization operates. Market intelligence supports strategic or tactical decisions that an organization makes regarding its customers.

Market Research

The formal collection, analysis, and reporting of information relating to the current or future customer or market and its preferences, behavior, opinions, and trends. Market research is used for decision making relating to the development and promotion of an organization’s products and services.

Qualitative Data/Information

Data or information that is non-numerically descriptive and measurable.

Research Plan

A statement of intent of what your research should involve. In this context, a plan is in written form, comprising explanation, justification and relevant numerical and financial statistical data. The plan should outline methodology and deliverables.

Strategic Intelligence

Intelligence that has a long-term focus, or is directed at the systemic concerns of an organization.

S.W.O.T. Analysis

SWOT is an abbreviation of Strengths, Weaknesses, Opportunities and Threats. SWOT analysis is an important tool for auditing the overall strategic position of a business and its environment. Once key strategic issues have been identified, they feed into business objectives, particularly marketing objectives. SWOT analysis can be used in conjunction with other tools for audit and analysis, such as PEST analysis and Porter’s Five Forces analysis.

Triangulating

Once a proposition has been confirmed by two or more independent measurement processes, the uncertainty of its interpretation is greatly reduced. Triangulation is one of several rationales for multi-method research. There are four types of triangulation:

▪ the gathering of data through several sampling strategies - from different populations, at different times and in different places
▪ the use of more than one researcher in the same field
▪ the use of more than one theoretical stance when interpreting data
▪ the use of more than one data-gathering method.

The last is the most commonly used form of triangulation.