The key to success in any given business environment is the ability to rise above the competition. With the right tools and information, businesses are able to set gauges, improve performance, and thrive in today’s dynamic and technology-driven market. However, all this is useless without knowing how to manage it.
Knowledge Management (KM) is the administration of human, relational, and structural capital, and the leveraging of internal assets. When conducted properly, knowledge management is mutually beneficial; the Employer remains competitive in its respective industry, while employees enjoy career satisfaction and equal opportunity.
Competitive Intelligence (CI), on the other hand, is a unique and critical subset of Knowledge Management that involves the study of the external environment. Competition and market trends are analyzed and converted into business strategy. This information is then integrated with internal processes to give a business its best competitive advantage.
The combination of Competitive Intelligence and Knowledge Management (CI/KM) creates modularity and increases the likelihood of long-term survival. The business environment may be constantly evolving, but information is not always available from open sources. Competitive Intelligence, unlike industrial espionage, represents the legal gathering and analysis of information regarding market competition. The research and validation of this information, which is often in the public domain, requires sound Knowledge Management.
Hubbard Digital applies Competitive Intelligence and Knowledge Management to remain a leader in Visual and Information Technology. We employ modern, ethical business practices, and strongly oppose industrial espionage and other illegal activities. We also realize that intelligence, both inside and out, remain a timeless principle. CI/KM is not only an indicator that reduces costs while increasing profitability; it’s an ongoing task which enables a business to compete strategically while employing and promoting the best talent.