For some there is a stigma attached to the concept of competitive intelligence. On the contrary, competitive intelligence should be thought of as “Collective Intelligence” – it is the wisdom of business community.
Knowledge alone cannot bring success. It is the “application” of knowledge that makes all the difference. Often budding entrepreneurs have asked me in our workshops “How should we handle competition?” The answer is treat them as your source of knowledge and don’t be afraid of competition. If you are good at what you do then focus on that and you will not have to worry about competition.
Knowledge is freely available today. This is the new normal. Harnessing knowledge for insights is where the focus should be.