THE IMPORTANCE OF COMPETITIVE INTELLIGENCE
IN DEVELOPMENT OF THE BUSINESS ENVIRONMENT Cover Image

THE IMPORTANCE OF COMPETITIVE INTELLIGENCE IN DEVELOPMENT OF THE BUSINESS ENVIRONMENT
THE IMPORTANCE OF COMPETITIVE INTELLIGENCE IN DEVELOPMENT OF THE BUSINESS ENVIRONMENT

Author(s): Adina Mihaescu
Subject(s): Civil Society, Security and defense, Welfare systems, Political economy
Published by: ”Carol I” National Defence University Publishing House
Keywords: competitive intelligence; information; business environment; business competition; economic forecasts;
Summary/Abstract: The business environment and specific environments of intelligence activities share an important common feature: lack of certainty. Although supposedly digitization and technological progress should ease the manager’s decision-making (through easier access to information), in practice, he is overwhelmed by the large amount of data he has at his disposal. The difference is made by those going from the “curiosity” to the“verified information” stage.Making this detailed process of collecting relevant data is extremely important. And this activity is characteristic of Competitive Intelligence (CI) structures. The raw data is then transformed into intelligence, and only now it can form the basis of strategies and action plans (or analyses, forecasts, etc.). This is one of the main strengths that a company can have,namely performance in anticipation.Romania has significant potential for economic development, which is also encouraged, for example through the Start-up Nation Government Program. According to data released by the Ministry of Business, Commerce and Entrepreneurship, the aforementioned program finances ten thousand companies annually. They suddenly create competition across several economic sectors in different areas. To resist the market, both emerging and senior firms are forced to adapt quickly and understand the direction and magnitude of the changes that have taken place. Thus, the CI can help these changes to be of lesser magnitude and, perhaps most importantly, to converge towards the creation of a sustainable, coherent and without major destabilization economic environment.