April 23, 2008

SCIP

If anyone is interested in learning more about competitive intelligence or becoming involved in an organization dedicated to competitive intelligence, you should check out this website: http://www.scip.org/

SCIP is the Society of Competitive Intelligence Professionals. It a global nonprofit membership organization for everyone involved in creating and managing business knowledge. Our mission is to enhance the success of our members through leadership, education, advocacy, and networking. Becoming a member of this organization has a variety of benefits. It provides education to its members as well as networking opportunities. They are constantly posting articles relevant to competitive intelligence. They also hold meetings, seminars, and workshops that can help you gain an edge in the field and become more knowledgable about this rising subject. Although becoming a member can be a little pricey, it's only $25 for students! So take the chance while you still can.

On the website they advertise volunteer opportunities as well as allowing thier members to upload thier resumes and search for career opportunities. The website is very informative and I encourage anyone that is interested in this topic to check it out.

Get your ducks in a row!!

In Tuesday's section of 642 Dr. Gillette used the term "get your ducks in a row." I found the following document that explained some of the theories where this phrase came from. I thought it was interesting

To get one's ducks in a row essentially means to insure all of the small details or elements are accounted for and in their proper positions before embarking on a new project. A defense attorney, for example, may spend much of his or her time making sure all of the evidence and witnesses are presented in a precise, effective order. A salesman may get all of his or her "ducks in a row" by rehearsing his sales presentation beforehand. When a person is fully prepared for any eventuality and has every element in place, he or she can indeed be said to have his or her ducks in a row.

But where did this metaphor for organizational confidence come from? Etymologically speaking, your guess is as good as any other. There are at least three plausible theories surrounding the origin of "get your ducks in a row," plus some others which at least put up an interesting argument. Some sources suggest the phrase was not even used in print until the late 1970s, although a magazine article from 1932 did suggest "getting our economic ducks in a row."

The most popular theory suggests that "ducks in a row" came from the world of sports, specifically bowling. Early bowling pins were often shorter and thicker than modern pins, which lead to the nickname ducks. Before the advent of automatic resetting machines, these "duck pins" would be manually put back into place between bowling rounds. Therefore, having one's ducks in a row would be a metaphor for having all of the bowling pins organized and properly placed before sending the next ball down the lane. Many bowling alleys still offer "duck pin" lanes with smaller bowling balls and shorter pins.

Another theory comes from the world of nature. Mother ducks often corral their young offspring into manageable straight lines before traveling over land or water. Any stragglers or escapees would be noticed as long as the integrity of this line is maintained. The idea of getting all of one's ideas or ingredients or team members in one organized line would be similar to a mother duck getting all of her literal ducks in a row. One concern with this theory is the use of the word ducks, since baby ducks are more correctly identified as ducklings or even chicks. The common expression suggests adult ducks, not necessarily younger ducklings.

There are also sources which argue the "ducks in a row" element refers to a carnival game or two. One popular carnival game involves the player using a small caliber rifle or air gun to knock down moving targets. Quite often these targets are in the shape of ducks, and a conveyor belt system makes sure the duck targets are aligned in a consistent row. It is possible that the expression came from the benefit of having all of the targets (ducks) arrive in a predictable and organized order.

A different carnival game uses plastic ducks which float in a water-filled track as players attempt to select the ones with high-value prize codes hidden underneath. These plastic ducks are generally presented in a moving row for easier selection by the players.

It is also possible that the expression came from the natural flight formation of ducks as they move through the sky. The most efficient arrangement is a V-formation behind the leader, which allows each duck to take advantage of reduced wind resistance. Having all of one's metaphorical ducks in a row would be just as efficient and logical as flying in such an organized formation.

Source: http://www.wisegeek.com/where-did-the-term-get-your-ducks-in-a-row-come-from.htm

Customer Relationship Management

Customer relationship management (CRM) is a multifaceted process, mediated by a set of information technologies, that focuses on creating two-way exchanges with customers so that firms have an intimate knowledge of their needs, wants, and buying patterns. (Wikipedia, 2008) This practice has been around for a long time. But with the increase of technology, it is becoming easier for companies to track their customer’s buying patterns. In this paper I will be discussing customer relationship management, and also showing alternative strategies that can be used when conducting a sale.
Customer Relationship Management
Dr. Deering brings up very important information in Chapter 11entitled KM for competitive advantage: mining diverse sources for marketing intelligence. When doing business, gaining and retaining customers is crucial to the success of your business. A good leader should be able to use their natural skills and attitude combined with the knowledge of business to execute customer relationship management.
In my undergraduate degree, Selling and Sales Management, we had entire course that was titled Customer Relationship Management. It’s important for everyone in business, especially the salespeople to be able to obtain new customers. One of the strategies we learned was how to put together a chart of what the customer wants/needs and compare it to what our product has to offer. If they do not match up, there are different strategies the salesperson can do to improve the chances of making the sale. Below, I have an example of what this transaction might look like. I will first explain who the customer is, introduce my product and the competitor’s product, show the customer’s decision criteria, and then explain the different strategies that can be used.
The Customer: First I will explain the customer. It is very important to understand who the customer is and what they are looking for in your product. People that buy the exact same item could be looking for totally different things, so you need to adjust the way you sell it for their particular needs. Sara Jane is the vice president of a successful real estate company. She is in her early 30's and resides in Tampa, Florida. Her existing computer is a 2002 Sony laptop. She has decided that it is time to trade in her current computer for a newer one. Her main concerns about the computer are the weight, the speed, the different color options, and finally the price. She is searching for different options on her next computer, not only in the Sony section. She hasn't had any problems with her current computer, but feels that she wants and deserves a newer computer.
The Two Alternatives: When selling a product it is crucial to not only know everything about your product, but you must also be informed and knowledge about your competing products. The two alternatives for Sara are the HP pavilion dv2700t and the Sony VAIO FZ series. These are both dependable laptops from very reputable companies. The following chart illustrates Sara Jane's decision criteria on the left, the HP criteria in the middle, and my Sony’s criteria on the right.
Crucial Strong Strong
-price -weight -color options
- - -
- - -
-weight -price -weight
- - -
- - -
-color options -color options -price
Incidental Weak Weak

This chart shows the differences between the criteria of the customer and the two alternatives. Price is a strong issue with Sara Jane. The Sony computer has a starting price of $1160.91 while the HP $900.
After looking over Sara’s criteria, my product’s options and the competitor’s options, it might look like the competitor has the edge. The following are three strategies that can be used to make your product stand out to the customer including; changing the decision criteria, increasing your strength, and diminishing your competition.
The Available Strategies:
A. Change the decision criteria: For this particular situation, I would try and create alternative solutions for Sara. One of her main concerns in choosing her next laptop is price. Although she wants a nice computer, she doesn't want to go overboard. One of the ways that I will try and meet her price criterion is by offering her a discount to trade-in her current laptop. I will also explain to her the payment plans that are available with the Sony and show her that by making monthly payments, it will seem more affordable.
B. Increase your strength: For this particular part of the sale, I will reassure Miss Jane the dependability of the Sony. She has had good past experience with her Sony and has not had any problems. Sticking with the same company would eliminate some of the worry of not being able to trust the company and also the worry that she will not be able to quickly figure out how the use the laptop. I will also explain to her the different options such as the mix and match unique patterns, colors and keyboard fonts that are available and can capture your personality on your laptop.
C. Diminish your competition: This is sometimes considered the trickiest part of the strategies, since it is very important that you do not bad-mouth the competitor. Fortunately, I am very confident in my Sony product, so I would be willing to show her a comparison report of the two laptops and simply point out the strengths of mine in comparison to the competitor.
Evaluation of Strategies: These strategies could be used simultaneously or alone, depending on what the customer wants/needs and the options of your product. For this particular example I believe that changing the decision criteria along with increasing my strength would be the best combination.

Competitive Intelligence

The following are more continuums that are mentioned in Competitive Intelligence and Global Business by Blenkhorn and Fleisher. This is an addition to my posting of Competitive Intelligence in Global Business.
Continuum 2: Developing-Country versus Developed-Country Intelligence Needs and Processes
Developing countries don’t feel that have as high of a need for CI as developed countries. One of these reasons is because developed countries tend to rely far less on information and communication technologies than those organizations in developed countries. Instead, they depend on networking with other individuals to get what they need. Another difference is that developing countries do not concentrate on counterintelligence as much as developed countries. Developed countries rely on counterintelligence in order to protect their intellectual properties such as patents, trademarks, and copyrights. The authors’ prediction is that by 2015 developing-country-domiciled corporations will increasingly accept CI and utilize it to the best of their ability. (Blenkhorn and Fleisher. Page 274.)
Continuum 3: Integrated Public/Private Sector-Intelligence versus Independent Private Efforts
In countries such as China, France, Israel, Japan, and South Korea, the government support of private-sector intelligence activities conducted by firms that are within their boundaries is prevalent and is viewed as useful to those companies who compete on a global basis. (Hulnick, 2002.) In North America however, although there have been many attempts to persuade government intelligence agencies to assist private corporations, most attempts have failed and they have purposefully been kept separate. Blenkhorn and Fleisher believe that “by 2015, corporations domiciled in nation-states whose governments currently avoid supporting corporate intelligence efforts will benefit from increased government support through the active provision of CI resources.” (Blenhorn and Fleisher. Page 275.)
Continuum 4: Relative Dominance of Human versus Technical Systems in CI
North America and most European countries tend to rely more on technology systems than those in Eastern and Asian countries. This tends to do with the fact that North America and Europe are relatively more experienced with digitized business transactions. Also, Eastern and Asian countries tend to have a more common manner of reaching agreements, such as a handshake. Their prediction is that in the future there will be more alignment of these system types, while Eastern and Asian firms will increase their use of these systems and Western firms will continue to show a predominance of technical systems usage. (Blenkhorn and Fleisher. Page 276.)