Fuld + Co. Survey Finds the C-Suite Investing in Vital Intelligence Capabilities | Pharma Magazine

Posted by Leonard Fuld on Apr 25, 2013 1:26:00 PM
By: Kevin Robinson

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The pharma and biotech sector accounts for more than a quarter (27%) of all intelligence spend  – amounting to over $2 million per year - the largest of any industry.

A survey conducted by Fuld + Company, examining budgets and personnel in the competitive intelligence function worldwide, shows that overall budgets are increasing for this capability. Competitive Intelligence (CI) tracks and analyses the competition so that meaningful information is provided to management to make strategic decisions about how to deal with opportunities and threats.

“Quietly but definitively, companies around the world continue to invest heavily in uncovering one, simple fact for senior executives:  What is my competition going to do next?” said Leonard Fuld, President, Fuld + Company. “Increasingly, the C-Suite is arranging for direct access to information on competitor activity in real time, rather than burying the intelligence function many layers below within the corporation.”

Among the study’s major findings are

  • Pharmaceutical and biotechnology companies appeared to have only slightly reduced their expenditure in tracking competition. Even with a slight fall in investment, this sector still represented over a quarter (27%) of all intelligence efforts spending more than $2 million per year, still the largest of any industry

  • Super programmes with multi-million dollar budgets have emerged with relatively generous budgets and lots of influence in the C-Suite.

  • In Asia and in Europe, companies with intelligence budgets of more than $2 million or more did not exist 5 years ago but today represent 2-3% of all intelligence budgets.

  • In North America, programmes that spend more than one-million dollars increased from approximately 5% to nearly 10% of all budgets.

  • Across the board, from Asia, Europe to North America, the surviving corporate intelligence programmes have increased their influence and direct reporting to the C-Suite. All regions report an approximately 5% increase in programmes that report directly to the chief executive’s office.

  • Professional service firms far outshine any other sector with over 28% of the programmes surveyed reporting to the C-Suite. Consumer firms and Technology/Telecom are next with each reporting over 22% of their sector reporting to the CEO, CFO or COO.

About this survey: Last released in 2007 (From Stick Fetchers to World Class: A worldwide survey of Corporate Intelligence Programs), Fuld + Company’s Global Competitive Intelligence Benchmarking Project surveyed 141 companies from around the world, examining issues such as budget size, staffing, program age and accountability. In the 5 years since the first the first report was issued, 394 additional companies with a similar profile participated in the study.

About Fuld and Company: Fuld + Company (www.fuld.com), based in Boston, Massachusetts, with offices in London and Manila, is the world’s preeminent research and consulting firm in the field of competitive intelligence. Founded by Leonard Fuld, a pioneer and recognized leading authority in the field, Fuld + Company has serviced more than half the Fortune 500 and FTSE 100 for over 30 years. The firm does research and analysis, strategic gaming, intelligence process consulting, and training to help clients understand the external competitive environment.

Topics: Competitive Intelligence, Pharma, Life Sciences

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