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Today's
business is a battle based more on ownership of information
than on ownership of other resources. And it is a capital
mistake to theorize before one has data. Competitors can
copy each other's equipment, products and procedures,
but they cannot duplicate the company's information and
intellectual capital. A gold mine of information makes
you take informed decisions. All such informations are
to be pooled into think tanks. We have developed sophisticated
techniques for acquiring new information, as well as for
managing existing information.
Companies often make two errors with respect to information.
They either gather too much information or too little.
The solution is to develop a model of those forces in
the company's macrooenvironment and task environment that
primarily drive its sales, costs and profits. The resulting
information template must be a cross between what managers
need to know and what is economically feasible. Company
environment plays an important role in acquiring information.
Companies need accurate information about their competition.
The most immediate competitor is the one most like yourself.
This competitor sells to the same target market and uses
the same marketing mix. More... |
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