Get right business Intelligence, never mind the cost

Alice in wonderland comes to mind when firms go for strategy formulation without adequate knowledge of the market, products and participants operating therein. Getting the right business intelligence is a definite must for charting business strategy although it costs more. Few tips:

1.  Whether you are a novice or hardened business strategist, one thing is certain, that is, you have inadequate knowledge of the business competition and the players who are there. Two items are damned important: capacity of the opponent in terms of tools they have in products, processes and assets in the form of edge technology, finance and human resources. The second one relates to the capability of the company as a whole in general terms and especially by the key personnel who give the flip in getting business strategy implemented seamlessly in co-ordinated and integrated manner.

2. Getting right business intelligence is easily said than done. It costs a lot of money. There are two types of intelligence. One is the information part of it and the second is intelligence part of it. The former is readily available in public domain for scooping in from market surveys. Intelligence lies much deeper. Here what one easily surmises is the tip of the iceberg. About 80% of unknowns lies below the surface. Getting it could turn out to be either legally permissible or that borders on illegal methods. When the latter happens it is simply dubbed as industrial or corporate espionage. 

3. Sun Tzu has this to say: “Thus what enables the wise sovereign and the good general to strike and conquer and to achieve things beyond the reach of ordinary men is foreknowledge”. In practice the foreknowledge consists both business information and espionage. However the itch is this involves grey zone operation and also outlay of large quantum of money. 

4. Sun Tzu further affirms: “To fail to know the condition of opponents because of reluctance to give rewards for intelligence is uncharitable of a military leader”. Understandably, business intelligence must be obtained employing internal personnel or by engaging external personnel. Once again there is a thin line between what is legally permissible and what is in the grey zone of legality. Finally, it is the money that speaks! 

Cheers!

Muthu Ashraff Rajulu

Business Strategist

Mobile: + 94 777 265677

E-mail:   cosmicgems@gmail.com

Blog:   Business Strategist