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The Search for Corporate Wisdom: Knowledge Management Tools Help Enterprises Get Smarter

Medical Industry Information Reporter (MIIR)
by Newton D. Swain

In an article discussing the medical industry's need to track competitors, here's what was said about STRATEGY! . . .


. . . In my view, three packages stand out and offer good examples of available tools.


Strategy Software (http://www.strategysoftware.com, Kirkland, Washington) founded in 1996, produces a competitive intelligence and information tracking software package called STRATEGY! that is designed around Michael Porter's (of the Harvard Business School) Five Forces that impact the competitive strategies of corporations:

   1. Bargaining power of customers
   2. Bargaining power of suppliers
   3. Treat of substitutes
   4. New entrants
   5. Rivalry among existing industry competitors

The software tracks, organizes and summarizes information that relates to these forces and enables a company to put this data into a sophisticated report generator that includes more than 40 report templates. In short, STRATEGY! focuses on the competitive environment."

[Actually, there are over 150 report templates included in STRATEGY!. The other tools discussed are very different from STRATEGY!: (1) Hyperwave Management Information, Inc which is a KM system where workers contribute their ideas, work and results. The article says Hyperwave "is not cheap the shrink-wrapped version costs $100,000." The other tool (2) is Hyperion Solutions Corporation, Inc. which provides a suite of applications including customer relationship management that is "at the high end of the market."]

The article's conclusion:

"Every Economics 101 student quickly learns the two inputs to production are labor and capital. As the 21st century takes its first baby steps, we are seeing the start of a new paradigm that gives knowledge equal rank in this equation. Certainly the abundant good health of the U.S. economy is being driven by the growth of the internet and the revolution in communication and information technology it has spawned. The clear winners in this game have been the companies that are able to gather, assimilate, analyze and act upon the myriad of available information quickly and turn it into knowledge and competitive advantage. Francis Bacon was right: Knowledge IS power."

Excerpted from the Medical Industry Information Reporter, Summer 2000