The Role of Competitive Intelligence on Google Essay

The Role of Competitive Intelligence on Google - Essay Example nce at Google Advantages of Competitive Intelligence The main objective of competitive intelligence is to identify new opportunities and potential threats that lie ahead. It tries to detect and counter the threat from competition. Competitive intelligence aims to remove or reduce the surprises and therefore tries to develop and enhance the competitive advantage. Globalization along with access to the huge databases and the realization of the new type of competitor and business opportunities has also led to the advancement in the competitive intelligence. Therefore, competitive intelligence keeps the companies ahead of their competitors and therefore opens new horizon for them (All Hands Business Solutions, 2009). The figure below explains the competitive intelligence cycle which begins with planning and ends at diffusion of the information at the organisation. Source: (Quoniam, n.d.). When the data is gathered from numerous sources, it is evaluated in order to identify the competitor ’s strategies as well as future directions. The main objective of the CI is to make informed marketing as well as strategic decisions through which gaining strategic advantage and reduction of the risk is possible (College of Business and Public Policy, 2011). It is worth mentioning that when a company has detailed information and knowledge regarding the product/ services of its competitors, the company is likely to gain advantage that will assist it in planning the best strategies and therefore enhance the overall profitability and market share (The University of New York, 2011). The main result obtained from the competitive intelligence is its capability to prepare forward-looking decisions. Hence, it can be stated that it is through competitive intelligence that the companies are...When the data is gathered from numerous sources, it is evaluated in order to identify the competitor’s strategies as well as future directions. The main objective of the CI is to make inf ormed marketing as well as strategic decisions through which gaining strategic advantage and reduction of the risk is possible (College of Business and Public Policy, 2011). It is worth mentioning that when a company has detailed information and knowledge regarding the product/ services of its competitors, the company is likely to gain advantage that will assist it in planning the best strategies and therefore enhance the overall profitability and market share (The University of New York, 2011). The main result obtained from the competitive intelligence is its capability to prepare forward-looking decisions. Hence, it can be stated that it is through competitive intelligence that the companies are capable of making strategic decision making as well as that of market leadership. Disadvantage or Potential Pitfalls of Competitive Intelligence As per the views of Malhotra (1996), its main goal is to collect pertinent information which is valid and accurate. Inaccurate information may endanger organisation’s competitive intelligence efforts. The other significant drawbacks of competitive intelligence are that there may be illustrations of fake confirmation where a significant source of data may tend to confirm the records received from other sources.