Losing more than $14 billion during the period 1991-93, combined with the arrival of new CEO Louis V. Gerstner, Jr., changed the way IBM thought about customers and competition. As IBM began to reshape itself in the 1990s, its traditional emphasis on customer satisfaction broadened to include a renewed focus on competition. In 1993, IBM revised its approach to competitive intelligence, which had previously been isolated within business units. This article summarizes experiences in shaping a corporate competitive intelligence operation at a large multinational company. Under a pilot project, rival information technology vendors with whom IBM's customers planned to do more business were identified. For each of these competitors, a senior IBM executive was assigned as the resident "expert," responsible for ensuring that strategies throughout IBM addressed the competitor and led to appropriate actions in the marketplace. "Virtual" CI teams were established, consisting of the assigned executive, peer executives representing various IBM business units, a small core of CI professionals, and representatives from functional areas such as manufacturing, development, marketing, and sales. A small corporate team was formed to manage the overall program, while day-to-day competitive analysis was performed by teams located throughout the company. Lotus Notes-based systems provided teams with online discussion databases, and provided executives and analysts with global access to CI databases and updated competitive assessments. The teams also used IBM Internet technology to access sources outside of IBM, and IBM intranet technology to post updates within IBM. Lessons learned from the pilot project were assessed and the program refined, as competitive intelligence became ingrained in IBM's corporate culture.