The role of competitive intelligence in an organization (Samsung) Essay

The role of competitive intelligence in an organization (Samsung) - Essay Example The intelligence that is gathered and applied for business advantage includes information on consumers, business competitors, products and services. During market research that is conducted within the framework of competitive intelligence, a company invests resources in collection, analysis, application and communication of information on all aspects of the market. Therefore competitive intelligence is an aspect of the external environment of an organization or company. Advantages of Competitive Intelligence The role of competitive advantage within a business entity is demonstrated by the application of collected and analyzed data on the market by the management as a basis of making operational and strategic decisions for business success (Gaidelys 1060). Competitive intelligence is an ethically and legally acceptable business practice which allows companies to make informed decisions that allow them to effectively survive in a competitive market. Uncertainty on the market is signifi cantly reduced through competitive intelligence (Kamal 312). ... Competitive Intelligence at Samsung Through competitive intelligence, Samsung analyses its plans in relation to the response of consumers or the market to allow its management to reach informed and accurate decisions on business strategy (Datamonitor 5). For example in the production of smart phones, android phones, notebook and tablets, Samsung collects intelligence from the market on the likely response of the consumers before the sale of these products. This concept is referred to as pressure test of corporate plans to determine the reaction of the market to new or improved products. It is through this process that Samsung has been able to obtain a positive response from the consumers a factor that has allowed the company to become more competitive as compared to its business rivals. The android products that are produced by Samsung are received well by the company’s markets across the world because of the quality, values and authenticity which the company achieves for its products based on the intelligence information that is gathered and analyzed within competitive intelligence. The need to improve credit rating within Samsung called for elaborate analysis of intelligence about its consumers and business competitors. This allowed the company management to decide upon effective corporate strategies which allowed the company to have a higher credit rating as compared to other companies within the industry (Karim 196). In this regard therefore, competitive intelligence has played a significant role in defining the business strength within Samsung and its application to achieve success in the mobile phone and electronic markets. The strength of Samsung’s telecommunication commerce is also