businness intelligence
Question number 5: It has been argued that “ market sensing” should be part of the learning process for enterprises and the individuals who comprise the enterprises people. Six activities are proposed to enable enterprises to open their collective “mind” and make this process work. Briefly describe each of the six activities and comment upon the difficulty or otherwise of successfully implementing these activities within different enterprises. First of all, market-driven organizations use many devices to open their collective “ mind” to new information that can help anticipate emerging opportunities and competitive threats, and more accurately forecast how the market will respond to changes in strategy. The first activity is the creation of a spirit of open-minded inquiry and it is obvious that in market driven organizations there is an openness to trends and events that present market opportunities. The inquiry activities are often threatened by an insidious closed-mindedness, that blinds management to emerging possibilities and latent threats by narrowing the scope of the inquiry.