Improving SMEs’ Business Sustainability Through Competitive Intelligence
Improving SMEs’ Business Sustainability Through Competitive Intelligence
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2018-05-25
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eng
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1 page
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International Conference on Entrepreneurship and Sustainability in the Digital Era ICESDE 2018 Assumption University of Thailand May 25, 2018
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Abstract
This paper proposes the conceptual framework for implementing Competitive Intelligence (CI) to enable
sustainable growth in Small and Medium Enterprises in Thailand. The research proposes a CI framework
that leverages on publicly available financial statement information and market information, as these two
sources are readily and regularly available at low cost with minimal and efforts to perform data analysis.
Data sourced from financial statement would allow SMEs to gain insights and to quantify levels of
relationship into key performance indicators vis a vis competitors and stakeholders, while market
information would allow SMEs to monitor local and external operating environment and changes in
market trends. With such insights, the CI framework would enhance the decision making process in
SMEs, particularly in setting strategic directions and taking tactical actions. The research proposes that
CI is conducted continuously as a close-loop process with four key elements, comprising a) data update,
analysis and communicate, b) management take/ adjust strategic and tactical plans, c) realign / align target
and benchmark and d) monitor plan against benchmarks.
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