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Porter's four corners model is a predictive tool designed by Michael Porter that helps in determining a competitor's course of action. Unlike other predictive models which predominantly rely on a firm's current strategy and capabilities to determine future strategy, Porter's model additionally calls for an understanding of what motivates the competitor.
Competitive intelligence is a legal business practice, as opposed to industrial espionage, which is illegal. [4]The focus is on the external business environment. [5]There is a process involved in gathering information, converting it into intelligence, and then using it in decision-making.
Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life is a non-fiction book by Indian-American economist Avinash Dixit and Barry Nalebuff, a professor of economics and management at Yale School of Management. The text was initially published by W. W. Norton & Company on February 1, 1991. [1]
Other sources of corporate intelligence include trade shows, patent filings, mutual customers, annual reports, and trade associations. Some firms hire competitor intelligence professionals to obtain this information. The Society of Competitive Intelligence Professionals maintains a listing of individuals who provide these services. [12]
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology and to proprietary information.
Heuer outlines the ACH process in considerable depth in his book, Psychology of Intelligence Analysis. [1] It consists of the following steps: Hypothesis – The first step of the process is to identify all potential hypotheses, preferably using a group of analysts with different perspectives to brainstorm the possibilities. The process ...
Examples include online auction sites, internet dating services, and internet book sellers. In many industries, the internet has dramatically altered the competitive landscape. Services that used to be provided within one entity (e.g., a car dealership providing financing and pricing information) are now provided by third parties. [ 76 ]
As a result, they tend to do none of the things prospectors do. A defender strategy entails finding, and maintaining a secure and relatively stable market. Rather than being on the cutting edge of technological innovation, product development, and market dynamics; a defender tries to insulate themselves from changes wherever possible.