• Riskology by Infortal: Episode 33 - Corporate Intelligence: Myth Vs. Reality

  • Sep 23 2024
  • Length: 16 mins
  • Podcast

Riskology by Infortal: Episode 33 - Corporate Intelligence: Myth Vs. Reality

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  • Summary

  • Join hosts Christopher Mason and Dr. Ian Oxnevad as they discuss how companies can harness the power of intelligence to avoid crises and seek out new opportunities. How can Companies Use Intelligence? While intelligence is critical for crisis management, its benefits extend far beyond that. Companies increasingly recognize the long-term advantages of integrating intelligence into their strategic planning. This involves not just avoiding immediate risks but also identifying long-term opportunities. Business intelligence isn't just about collecting data; it’s about leveraging the correct information to make informed decisions. Breaking Down the Misconceptions Many executives instantly think of spy movies or corporate espionage when they hear "intelligence." This misconception can prevent companies from enjoying the benefits of a developed intelligence collection and analysis program. For example, a company might use intelligence to identify potential supply chain disruptions, allowing them to take corrective actions in advance. Similarly, understanding the political landscape can help businesses anticipate changes that might affect their operations or investments. Trust but Verify Approach The principle of "trust but verify" becomes paramount when making substantial strategic decisions. Business intelligence is the verifying mechanism, ensuring trust is well-placed and minimizing risks. Deploying intelligence investigations and integrating insights into decision-making allows companies to navigate complex market conditions with greater confidence and security. This practice helps avoid immediate pitfalls to establish long-term, resilient business strategies. Assess Your Risk Profile and Decision-making Processes Before integrating intelligence functions, companies need to understand their risk profile and decision-making processes. This involves conducting a risk assessment of your firm to establish a baseline to improve on. Then, you must examine your company’s decision-making processes to determine how best to integrate valuable intelligence into your operations. You can navigate risk more effectively by embedding intelligence functions within your operations, providing a competitive advantage. For full show notes, go to Infortal Worldwide. Resources Infortal Worldwide Email Chris Mason on LinkedIn Dr. Ian Oxnevad on LinkedIn
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