A Competitive Intelligence Model Where Strategic Planning is Not Usual: Surety Sector in Mexico

Abstract

Nowadays, the importance of the strategy for an enterprise becomes evident by verifying the changes that characterize its environment. Changes in legislation and regulation models and a greater market fragmentation are clear examples of the threats that lead the change. At the same time, the opportunities that the environment offers through the reduction of entrance barriers and a strong possibility of investment extension have increased. In order to be able to survive in an increasingly competitive environment, organizations must adapt their products to the market. For this to happen, it is necessary that the organization develops a retrieval, analysis, and information interpretation process with strategic value about the industry and the competitors in it, which is transmitted to those in charge of the organization at the right time. The objective of this study was to develop a competitive intelligence model in an environment where strategic planning is not common and structural conditions are adverse. The research took place in the surety bond industry in Mexico, and the model obtained allows the surety companies with little strategic planning to know and identify their specific information requirements in order to lead competitiveness in a better way and the quality of their products and services at the same time. The outcome of this study demonstrates that competitive intelligence must suit the enterprise's activity, thus overcoming the barriers offered to this practice by the environment.