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Competitive Intelligence For Dummies by Jim Underwood

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Chapter 3

Doing Competitive Intelligence on a Low Budget

In This Chapter

arrow Building a CI program on a shoestring budget

arrow Discovering free and low-cost data sources and tools

arrow Rewarding CI team members with something other than money

Although CI can generate significant profits and growth, it doesn’t require a huge dollar or time commitment to be effective. Your organization is probably gathering data already. You simply need to formalize the process. In addition, certain employees probably have the expertise needed to analyze that data and transform it into actionable intelligence, so you don’t need to hire CI consultants. You can perform most tasks in-house.

In this chapter, I explain how to create a CI function without spending a lot of money by using existing personnel and resources. You also discover how to use membership on the intelligence team as a reward for top-performing employees.

remember.eps Small businesses are often the first to feel the impact of competitive change in the marketplace, so if you’re a small-business owner, don’t dismiss CI as too costly to implement. Failing to engage ...

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