Elements of Competitive Intelligence Used in Technology Strategic Planning

In Chapter 7 various methodologies for strategic technology planning were discussed. Common among all of them was the importance of obtaining early warning of new developments, capabilities, and strategies of competitors and potential competitors to support wise decision-making. The planning team needs to know things in advance of them happening and wants to use that knowledge in decision-making to gain advantage. To do so they must look at the whole world of business intelligence as depicted in the “elements of competitive intelligence used in technology strategic planning” figure. The broader realm includes such factors as environmental, societal, and political trends. Commercial intelligence is just what it sounds like, focusing on competitors, customers, markets, and suppliers. Coupled with this is technology intelligence with emphasis on scientific breakthroughs and technology trends. These two must be anticipated and responded to with new technology and science developments from your own company.