ipl-logo

Mkt 421 Week 3 Competitive Intelligence Examples

1346 Words6 Pages

3 Competitive Intelligence

Knowing your competitors is key to every business’ success. Competitive intelligence is the ability to see through or stay ahead of your competition, which is unspoken and hidden key to success (Fuld, 2010). A more formal definition of competitive intelligence by Leonard Fuld is the gathering and analyses of competitor information in anticipation of competitive activity.

Competitive intelligence (CI) is essential when developing an organization’s strategy because its analysis can provide valuable insights into the competitive environment in a structured and ethical manner. CI data include both published and non-published sources. Although CI appears to be spying on the competition, I quickly learnt that CI conforms …show more content…

Internet of things (IO) can possibly deliver an omni-channel experience between the physical and digital world through the connection of people, devices and systems. The emergence of IOT has brought possible efficiencies which can be achieved through devices which can gather and share data with each other to make intelligent decisions.

A variety of new technologies such as AI and 3D printing are becoming more affordable and opens opportunities for new innovates services and improvement of current services or products. Organizations that previously believed that they were not hugely affected by digital technology are increasingly forced to re-evaluate their business. The organization I work is one such example. The concept of 3D has drastically improved our manufacturing costs. We can print models of structures and play around with dimension at a fraction of the costs.

The global impact of the IOT is still yet not very clear as this is still new technology, however, in its report the (GSMA, 2014) stated that revenue from connected devices and services could be as much as US$2.5 trillion by 2020. The same report also states that cost reduction and service improvements from IOT could be as much as US$1 trillion by 2020. Below is an illustration of possible cost …show more content…

“Could this be a reality in my lifetime?”, I asked myself. The shocking answer is yes. Technology is improving at a very fast pace and is also getting cheaper. As a very private person, I was disturbed by the realisation that it is possible that someday, I could purchase groceries using a Google profile. I have to accept that someday my private ‘profile’ will no longer be private. I can choose to embrace the future reality and start adjusting now or I can remain stuck in my own world. Whichever choice I make, I have no control of how the world could be and Google analytics is just around the

Show More
Related

Bsbwor501 Unit 3

333 Words | 2 Pages

2. Identify problems that businesses in the case study solved by using mobile digital devices. GE Corporation used the digital devices to monitor and manage their gas turbine inventory and electronic transformers throughout the world with the ability to zoom in from a global map to a specific

Read More

Joseph Turrow The Daily You Analysis

193 Words | 1 Pages

In a recently published article titled “The Daily You : How The New Advertising Industry Is Defining Your Identity And Your Worth,” by Joseph Turow, states that well-known media corporations such as Facebook and Google have been “data mining.” Simply to speak, data mining is the collection of internet data that is sold off and used as research for marketing companies to further develop ideas to engage potential targets. Notably, Turow states that the twenty-first century exhibits one of the most stealthy methods of social profiling. Turow further illustrates his stance on how the intrusion of privacy can lead to several negative factors in which he later goes in depth about. Though he structures the body of the essay around

Read More

Googling Strangers And Scratch'sniff Stickers Summary

783 Words | 4 Pages

Over 3 million Google searches are made in the time it takes to read this sentence. However, as our online presence expands, so does the uncertainty and dangers, with privacy hanging by a thread. Although society acknowledges the positive impact of technology in connecting people and providing access to information, there is a growing recognition of the negative aspects emphasized in John Green's argument. Modern society agrees with the argument that emerging technologies have a significant impact on privacy, social inequalities, and environmental issues, as implicitly stated in John Green's two stories “Googling Strangers” and “Scratch ‘n’ Sniff Stickers”. To summarize "Googling Strangers" from the book “Anthropocene Reviewed”, John Green

Read More

Is New Belgium's Competitive Advantage?

185 Words | 1 Pages

Competitive advantage is anything that a company does better than its competitors. These things that create the advantage are what set them apart in supplying customer service, products, and relationships. (Ferrell & Hartline, 2011) These can include relational advantages, legal advantages, organizational advantages, human resource advantages, product advantages, pricing advantages, promotion advantages, or distribution advantages. These advantages can be real or perceived. (Ferrell & Hartline, 2011) The competitive advantage can either be something that is done better by a company or a weakness of the competitor.

Read More

Summary Of How Your Every Move Can Be Tracked Digitally

227 Words | 1 Pages

The NBC video “How Your Every Move Can Be Tracked Digitally” really opened my eyes on how much vital information is collected daily about us on our electronic devices. As technology, has grown and seems to be the way of the future more research must be done to keep our privacy private. People have grown concern about the ability to determine what we want to share and what we refuse to share. The way your tracking information is used has pro’s and con’s. A positive aspect would be the customer demographic accommodates to the individual person’s interest and likes.

Read More

What Are George Orwell's Predictions

789 Words | 4 Pages

In our world, Society gets watched twenty-four seven and some people know it, but they either do not care or just go along. So in reality, Society could prevent this problem by removing social media off of their habits and be spy free. “Young adults (85% of whom are smartphone owners) are also incorporating their mobile devices into a host of information seeking and transactional behaviors. About three-quarters of 18-29 year old smartphone owners have used their phone in the last year to get information about a health condition; about seven-in-ten have used their phone to do online banking or to look up information about job; 44% have consumed educational content on their phone; and 34% have used their phone to apply for a job.” “Behind Winston’s back the voice from the telescreen was still babbling away...of course no way of knowing whether you were being watched at any given moment” (2-3).

Read More

The Fourth Industrial Revolution By Prof Klaus Schwab

364 Words | 2 Pages

The Fourth Industrial Revolution book published by Prof. Klaus Schwab describes how the revolution is different from the previous three, which were characterized mainly by advances in technology. We are facing a range of new technology that combines physical, digital and biological worlds which will impact all disciplines, economies, and industries[1]. It refers to the increasing integration of technologies into business and production processes in order to make them self-sustaining and more efficient. All these made possible by the emergence of digital systems, networked communications, machine learning and large-scale data analysis[2]. Internet of Things (IoT) plays a big role in the industry, with the support of fast, secure and reliable

Read More

Competitive Advantage Of State Street Company

1196 Words | 5 Pages

To do this it needs to have a competitive advantage over its its rivals. A competitive advantage is something a company does better than its rivals that gives it an advantage over its rival. Porter (1988) states that a firm performs many activities that can contribute to a firms relative cost position and create a basis for differentiation which can create a cost advantage that gives a firm a competitive advantage over its competitors. A company’s competitive advantage and competitive strategy are both interrelated. Competitive strategy is defined by Porter (1980) as a broad formula for how a business is going to compete, what its goals should be, and what policies will be needed to carry out those goals.

Read More

ASOS Business Model

1495 Words | 6 Pages

It can be said that by means of organisation’s competitive strategy, it can achieve an upper hand in the business market over its rivals. Competitive Advantage offers a beneficial position to business organisations over rivals in regards of some measure like expense, quality, or velocity. An efficient strategy can help an organisation to achieve an upper hand through commitment to its strategic objectives and the capacity to significantly expand execution and profitability (Bartlett & Ghoshal,

Read More

Alice Inc Case Study Solution

1145 Words | 5 Pages

Based on our calculations in Appendix 1. at the first stage support costs were allocated to two existing departments, i.e. Machining and Assembly, based on direct labor hours. Therefore total amount of costs assigned to Machining department is $472.000,00 and to Assembly department is $248.000,00. At the second stage total costs from both departments were distributed to products (Regular and Deluxe). Referring to our calculations in Appendix 1.

Read More

Competitive Advantage In Bahrain

1518 Words | 7 Pages

Competitive advantage is a set of unique attributes of a nation. It is an advantage, capability, ability, strategy, that a nation or state or country has and enabling it to generate or produce or make more sales, profit, money, income and revenue and enables it to attract and retain more investors than other nations (competitors). It also puts a state in a profitable and superior strategic business position in the global markets (OU, 2010). The above figure: the determinants of national competitive advantage of Porter (OU, 2010).

Read More

Estimate, Measure And Calculate Physical Quantities To Solve Problems

1429 Words | 6 Pages

How much is the fencing material going to cost him? Suppose he has to put a pole after every 1,5 m. How many poles will

Read More

Lenovo Essay

937 Words | 4 Pages

Competitive strategy is a suit of methods and action sequence deliberately planned and put into place by companies in the face of market competition. This seems to be a clear way of keeping their market shares, expanding sales and managing the product lines to deliver desired results. The corporate world often needs some sorts of solid strategies considering the trends of the market competition. Beyond the issues of quality and distribution, companies often need to plan ahead and protect their market share in the sale.

Read More

Negative Effects Of Technology Essay

1874 Words | 8 Pages

Technology and new innovations are welcome in the society of the twenty-first century. Technology is advancing every year, and it is being integrated into everyone’s daily life. Technology like smartphones, computers, smartwatches, smart glasses, smart tv’s, and game consoles are being incorporated into people’s homes, jobs, education, transportation, and medicine. Technology makes it easier for people to communicate effortlessly over long distances. People have the ability to search for an abundance of information at their fingertips.

Read More

Benefit Of Globalization In The Philippines

945 Words | 4 Pages

Increased competition results in reduced prices therefore enabling consumers to buy more goods and services. Information Technology Information Technology (IT) is changing every aspect of how people live

Read More

More about Mkt 421 Week 3 Competitive Intelligence Examples

Related Topics

Open Document