SOURCE: Cutting Edge Information

July 31, 2008 10:40 ET

Fully-Dedicated Competitive Intelligence Groups on the Rise, Cutting Edge Information Study Finds

RESEARCH TRIANGLE PARK, NC--(Marketwire - July 31, 2008) - A new study released by industry leader Cutting Edge Information finds that competitive intelligence departments are now fully dedicated at 62% of pharmaceutical companies. The study, "Pharmaceutical Competitive Intelligence: Expanding the Role and Reach of CI," finds that not only are CI departments becoming wholly dedicated, but they are also taking on more strategically integrated roles at their companies (www.pharmacompetitiveintelligence.com).

Companies of all sizes are adapting their strategies when it comes to competitive intelligence. Smaller companies are now beginning to formalize competitive intelligence activities through firmly established communication lines, if not through fully centralized departments. The largest companies are moving toward centralized, global-level groups that offer strategic value beyond the data that they collect.

According to Cutting Edge Information's research, although the CI function certainly has room for growth -- most departments still consist of fewer than 10 individuals -- it is well on its way to becoming a mature, influential department.

"A decade ago, the concept of having a fully dedicated CI department was a new idea," says David Richardson, lead author of the study. "Now at many companies, the CI function is a fully integrated function that plays a vital role in developing and executing market strategies."

The 116-page report examines CI team structures, phase-by-phase spending and staffing, and strategies for improvement. Compiled from surveys and interviews with executives at leading companies, the report enables CI teams to achieve success. It focuses on these topics:

--  Structuring for Success - provides details on CI structures, including
    global-level reporting lines and placements; ways in which CI teams trumpet
    their successes and create CI cultures; and the career paths laid out to
    make CI teams breeding grounds for future pharma leaders
--  Resourcing for Growth - reveals CI department-level budgets and
    staffing; brand-level phase-by-phase spending and staffing; which groups
    fund CI; and how companies demonstrate ROI on CI
--  Increasing CI's Reach - Examines how companies communicate their
    strategic value to internal clients and the resources and tools for
    collecting CI
    

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