Paper Topic:

STRATEGIC MANGEMENT OF TECHNOLOGY AND INNOVATION

Strategic Management of Technology and Innovation

Customer Inserts His /Her Name

Customer Inserts Grade Course

Customer Inserts Tutor 's Name (21 , JUNE 2008

Abstract

In this I will discuss strategic management of technology and innovation . Strategic management consists of formulating , implementing and evaluating organizational decisions that enables it to achieve it aims and objectives . This piece of writing covers like ethics in competitive intelligence , globalization and its trends , operation system of a police department , motivation of employees and managers to adopt new strategies and examples of different types of

strategies

Answer

Competitive intelligence (CI ) is the process of collecting , analyzing and implementing information about competitive arenas . It constitutes the collection , interpretation and finally application of all the data that a firm receives about its competitive sphere . Competitive intelligence is a part of Marketing Information System (MIS

Specifically talking about the Organization , market intelligence is that department that collects both the market intelligence and competitor analysis . Competitive Intelligence describes the bigger plot of researching , analyzing and formulating data and information from the entire competitive sphere of any business entity . Business Intelligence of any kind will also be a part of their job .Such activites carried out by separate departments like the Finance department seeking for market trend and investing opportunities . The human resource department toacquire and retain employees to get best outcome for both the business and the employees as well or the Mergers Acquisition group for exploring acquisition opportunities .The only way to excel in the market is to know it very well as to curtail the uncertainities and increasing the chances of achieving the desired goal . The major benefits of a well organized CI are

It sharpens and concentrates external focus of a company through market and customer orientation

Reveals opportunities and threats

Ellaborates on competitors ' trends

Gives early warnings of competitor moves enabling counter measure

Minimizing investment risks

Better customer interaction

It also leads to flaw less market selection positioning which highlights that the company understands the niche where thier offering fits and is also capable of discovering untapped or potential market as well ( HYPERLINK "http /www .amazon .com /exec /obidos /search-handle-url 5Fencoding UTF8 se arch-type ss index books field-author Larry 20Kahaner " Kahaner ,1998

CI is a legal and ethical business practice .It focuses on external business environment . Professionals emphasize that if the information collected through CI is not applicable or actionable then that piece of knowledge is useless and is not worth of being counted as CI . Through an effective CI an organization can identify opportunities as well as threats in the market before they become actually visible or obvious thus a company can well equip itself to cash on such accurate anticipations . CI is not just a simple competitive analysis in fact it is lot more than that . It is actually about making the business relatively competitive in a better and effective way to not just its direct competitors but indirect ones as well . CI blesses a company with competitive advantages if is...

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