Intelligence as a Factor of Production in the Post-Crisis Economy

Intelligence as a Factor of Production in the Post-Crisis Economy | Adrian MORARU

Abstract: Nowadays, a lot of information is becoming available to anyone around the world, thanks to the development of the internet and the increasingly rate of globalization. Concepts like business intelligence, data mining and, more recently, big data, gain an important role in the work of information management. However, the new knowledge based society needs the development of a more specific and competitor based type of information analysis, such as the one part of the Competitive Intelligence cycle. The result of the information analysis within the Competitive Intelligence activity is called intelligence, and it refers to useful and actionable information, which can be used by a decision maker within a firm in order to gain durable competitive advantages.
Therefore, with the competitiveness playing an essential role in the new post-crisis economy, earning competitive advantages with the use of proper actionable information is mandatory. The sub-prime economic crisis hit firms and corporations all over the world and the period following this crisis was and still is a real test of survivability. Only the strongest and the most adaptable firms can thrive in a society with skeptical and more and more exigent consumers.
This study brings information together with the other newer factors of production (besides labour, land and work), such as technological or entrepreneur’s ability, properly managing information analysis inside a firm being an important element of development in the new post-crisis economy. At the same time, it can be the base of a more thorough research regarding the importance intelligence for the competitive market and the role it can play in developing the business environment. The main answer this study gives refers to the importance of information analysis and of using its results inside a firm that aims to increase its competitiveness in the market.

Keywords: Intelligence, Competitive Intelligence, information analysis, factor of production, post-crisis economy, durable competitive advantages.