Foresight, Competitive Intelligence and Business Analytics — Tools for Making Industrial Programmes More Efficient

Abstract

Creating industrial policy and programmes, especially in technology, is fraught with high levels of uncertainty. These programmes target the development of products that will not be sold for several years; therefore, one of the risks is that the products will no longer be in demand or will have been overtaken by more advanced technologies. In several cases, the authors have seen these programmes fail because the intended targets of the programme did not apply to use the programme funds (poorly targeted program) or did not use the programme properly. An integrated programme involving foresight, competitive intelligence and business analytics assists in decreasing the probability of the risks and problems described above, resulting in better designed and more successful industrial policy. These techniques can also be used to create a dashboard for monitoring programme use so that any problems can be corrected early on. The dashboard uses advanced analytics to assess programme applications and programme inquiries to assess whether the programme is being used properly. Via an integrated intelligence process, it monitors the external environment to ensure that programme assumptions in terms of what technologies are most appropriate remain valid. The dashboard relies on information available in open sources and available to the government.

Strategic management model with lens of knowledge management and competitive intelligence

“…While competitive intelligence can forecast potential problems in external environment and provide their solutions. It also offers helps in the strategic planning (Tanascovici, & Hagiu, 2013;Calof, Richards, & Smith, 2015). So these both evidences combined together imply that knowledge management and competitive intelligence offers strategies, alternative strategies, potential problems and their solutions both in separate and synergic way in strategic management process.…”

“…to support strategy implementation in this stage of strategic management process (Lee & Hong, 2002;Corfield, & Paton, 2016). In the same way, competitive intelligence can forecast potential problems in external environment (Tanascovici, & Hagiu, 2013;Calof, Richards, & Smith, 2015). In this stage of strategic management process, an organization should ensure that the right amount and form of knowledge and intelligence in synergic and separate way is provided to right person(s) at right time, at right place, and, in right amount.…”

Simulation as Implementation of Digital Approach to Decision-Making under Uncertainty and Risk

“…The design of this system should reflect the whole range of currently disintegrated business processes, provide effective data processing tools and present contextually relevant information in an easily understandable way. A common informational space is likely to increase the levels of data accessibility and transparency [15,16].…”

Competitive intelligence as a game changer for Africa’s competitiveness in the global economy

“…CI identifies knowledge gaps and then goes out and fills them. CI has also been identified as critical in designing economic policy and programs (Calof, et al, 2015). There is need for the continent to fully embrace CI so as to achieve meaningful and sustainable growth rates given the abundant natural resources as well as the intellectual capacity.…”