In
the early centuries before Christ when Chanakya, the political manager of
Emperor Ashoka made a treatise famously called Kautilya’s ‘Arthashastra’ he may
have not know that the financial planners would still consider the Bible for
every business. Worldwide there have been intelligent beings like him, another
being the Chinese war strategist Sun Tzu of 500 BC and Prince Machiavellian who
have made competitive intelligence into an art form. Maybe a few techniques and
tricks may have changed but the core methods still are the same…for human
emotions and ways of thinking haven’t changed much. Competitive intelligence
influences business development in a positive way if utilized efectively.
Today every phase in life has become very competitive. Every one’s career
hinges on the strategies they use, marketing tools and innovative methods to
keep themselves afloat or on top of their business. Some people use instinctive
competitive intelligence, some acquire it, some have others brains doing the
job. Any ethical means that a person chooses to remain in business is ideal. It
is important to learn who is your competition, is he offering the same services
and is his marketing any better than yours? It should become your business to
monitor your rival. He may not be an enemy but will never be a friend either.
With the help of competitive intelligence one can track competition, improvise
on own products, understand the strength and weakness of self and as well as of
the competitor. Get to know your rival so well that you know him better than
your own self. This can be used in every sector. The trend today is towards
competitive intelligence and retail industry that is seeing rapid growth.