NEW YORK, Dec. 6, 2016 /PRNewswire/ -- The role of Investor Relations Officers (IROs) places them in a unique position between senior management and the outside world. Maintaining and nurturing the dialogue between the company and the capital markets, including current and potential shareholders and financial analysts, is at the core of the IRO's responsibility. This dialogue extends beyond an IRO's individual company to encompass its industry competitors. Call it competitive intelligence, market intelligence, media monitoring or something else, a successful intelligence gathering function shares a few common characteristics that translate into effectiveness, efficiency and strategic importance.
PR Newswire's latest white paper, "The Evolving Role of Investor Relations in Competitive Intelligence," explores the evolving role of IR in competitive intelligence and how industry thought leaders across Canada are taking it on as part of the IR mandate.
The white paper breaks down the necessary traits of IROs integrating the use of competitive intelligence into their roles, including:
- Effectiveness: Collaboration among departments across an organization extends the company's reach and understanding and keeps IROs on top of trends they might not otherwise be aware of when talking with analysts and investors.
- Efficiency: An efficient competitive intelligence effort comes from being selective and disciplined about which sources of information are fed into the effort, as well as what rises to significance that merits landing on senior management's radar.
- Strategic Impact: By continuously monitoring what competitors are telling investors and how the financial markets perceive competitive positioning across the industry, IROs are in a unique position to add strategic context.
As changes across industries continue at a steady pace, the need to make sense of these developments and put them into perspective for what's to come is becoming increasingly important. Investor Relations Officers have the unique opportunity to play the role of channeling this flow of information between the company and capital market. Read the full guide to learn how IROs can implement strategic use of competitive intelligence to deliver essential insights for informed business decisions.
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