Your competitors are watching you. A new survey conducted by Fuld & Company shows that an increasing number of firms are investing in competitive intelligence programs to analyze their competition.
“Quietly but definitively, companies around the world continue to invest heavily in uncovering one, simple fact for senior executives: What is my competition going to do next?” said Leonard Fuld , President, Fuld & Company.
The Cambridge, MA-based company does research and analysis, strategic gaming, intelligence process consulting, and training to help clients understand the external competitive environment.
“Increasingly, the C-Suite is arranging for direct access to information on competitor activity in real time, rather than burying the intelligence function many layers below within the corporation.”
Among the study’s major findings are:
- Super programs with multi-million dollar budgets have emerged with relatively generous budgets and lots of influence in the C-Suite.
- In Asia and in Europe, companies with intelligence budgets of more than $2 million or more did not exist five years ago but today represent 2-3-percent of all intelligence budgets.
- In North America, programs that spend more than one-million dollars increased from approximately 5-percent of all corporate intelligence program budgets to nearly 10-percent of all budgets.
- Across the board, from Asia, Europe to North America, the surviving corporate intelligence programs have increased their influence and direct reporting to the C-Suite. All regions report an approximately 5-percent increase of their programs that report directly to the chief executive’s office.
- Professional service firms far outshine any other sector with over 28-percent of the programs surveyed reporting to the C-Suite. Consumer firms and Technology/Telecom are next with each reporting over 22-percent of their sector reporting to the CEO, CFO, or COO.
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