RESEARCH TRIANGLE PARK, NC -- (MARKET WIRE) -- 07/10/08 -- A new study released by industryleader Cutting Edge Information finds that competitive intelligencedepartments have an average of 9.4 years under their belts. Somecompanies' CI groups are only two or three years old, while others arecloser to 20 years old, the study finds. The study, "PharmaceuticalCompetitive Intelligence: Expanding the Role and Reach of CI," highlightsthe relative youth of this department compared with long-standing, mammothbusiness units such as R&D (www.pharmacompetitiveintelligence.com).Though most CI departments are still less than a decade old, pharmaceuticalcompanies are making strides to maximize their value. For example, manycompanies are globally centralizing their CI groups to foster a moreholistic view of the market. Centralization at the global level suppliesCI leaders with the tools to make recommendations based on all of thecompany's brands, therapeutic areas and business units.
According Cutting Edge Information's research, although the CI functioncertainly has room for growth -- most departments still consist of fewerthan 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 anew idea," says David Richardson, lead author of the study. "Now, at manycompanies the CI function is a fully integrated function that plays a vitalrole in developing and executing market strategies."
The 116-page report examines CI team structures, phase-by-phase spendingand staffing, and strategies for improvement. Compiled from surveys andinterviews with executives at leading companies, the report enables CIteams 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
CONTACT INFORMATION:
David Richardson
Email Contact
919-433-0216