Inovus Intelligence - Insights on IT Alignment                             June 2015

The Three C's: Compliance, Competition, and Competence     Part II

This is the second in a three-part series exploring what it means to have and use the right data across the three C’s of compliance, competition, and competence. The first installment (see Part 1) addressed compliance. Now we address competition, which requires that IT resources enable understanding of an organization’s place within its business landscape. 

Lacking awareness of competition, even a pioneering organization or market-share leader can fall behind. Certain of its position and advantages in the marketplace, an organization guilty of marketplace arrogance may become complacent, failing to examine key internal metrics against external benchmarks that might point to the need for change. Congratulating itself for its past quarter’s earnings, the business may fail to see the signs of faltering service or slippage in the quality of the customer experience.

For this reason, industry intelligence — with the technology and expertise to use it — is an essential part of competition. When IT is equipped to deliver this intelligence, the organization can determine what the industry is doing, which businesses are significant competitors, what the long-term business landscape looks like, and what factors contribute to the organization’s own success.

Partnering with a consultancy, an organization can identify and capture the data necessary to gain a clearer, better informed perspective on external factors influencing competitiveness, as well as a clearer understanding of emerging opportunities for change, growth, and further success. At the same time, it can better pin down systemic internal issues, related both to systems and methodology that undermine the company’s capacity for competition, and then plot a course toward a stronger position within the marketplace. When IT is aligned with business strategy, any size organization can report and review data that empowers control over the three C’s, providing substantial time and cost savings.

Next article in this series: competence