Designing a Competitive Intelligence System

The company has to design a broad competitive strategy by which to achieve competitive advantage. However, No one strategy is best for every companies. The competitive smart system does the following:

1.   Recognize  the  vital  types  of  competitive  information  and  the  greatest  sources  of  this information.
2.   Continuously the system collects information from published data and from the field.
3.   The system verifies the information for reliability and validity, interprets it, and organizes it in proper way.
4.   It sends key information to relevant decision makers and responds to inquiries from managers regarding competitors.