Dateline: July 8, 2016
Avoiding a $500 million mistake is surely just as valuable as launching a $500 million product.
Welcome to our Friday WRAP – one thought-provoking idea to think about over the weekend.
Recently, Harvard Business Review published a blog post about The Right Way to Use Competitive Intelligence. The article, by Benjamin Gilad, author, entrepreneur and former associate professor of strategy at Rutgers, and Magnus Hoppe, assistant professor of organization and management at Malardalen University, suggest that the data and information collected by organizations today, what they call intelligence, has enabled managers to not just plan differently, but think and act differently. They suggest,
We must start to think differently about how business, management and strategic intelligence works. What companies today need isn’t meticulous plans, but to constantly reassess the business and it’s markets and competitors. In other words, the goal for strategic intelligence is not to collect market information to make plans, but to use that information to generate insights that, in turn, support ever-changing perspectives. Eventually, these perspectives may result in action. Or not. The test of a capability is not in management action but in management learning.
How does management use intelligence in your organization? Is it to support an ever-changing perspective?
That’s a WRAP! Have a great weekend!
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