In tough economic times, firms (large and small) are faced with several difficult choices. Cutting costs is the number one issue that most companies must deal with. Unfortunately, the cost cutting measure of reducing the amount of employees on the payroll is a reality that companies must struggle with given the current economic conditions.
The repercussions of reducing staff and other cuts are felt by departments or functions that are deemed to be expendable in the eyes of senior management. As seen from my years in the field of strategic intelligence, the competitive intelligence function seems to bear the brunt of divestitures in the fear of no or little return on investment. Keeping this in mind, one has to wonder if companies strive to do more with fewer resources, would they wish to do so in a more strategic fashion? If this is the case, wouldn’t the fruits from a competitive intelligence function benefit the firm in the long term given strategic objectives?
In the upcoming posts on this blog, I will discuss some issues and strategies that will assist individuals in competitive intelligence functions facing cuts to their budgets. The goal of these series of blogs is to provide readers with legitimate arguments to protect the assets of a competitive intelligence unit.
