Effective implementation of a competitive intelligence program requires not only information about the competitors, but also information on other environmental trends such as industry trends, legal and regulatory trends, international trends, technology developments, political developments and economic conditions.
Saturday, April 21, 2007
Competitive intelligence
Competitive intelligence tries to ensure that the organization has accurate and current information about its competitors and has a plan for using that information to its advantage. Competitive intelligence uses public sources to find and develop information on competition, competitors, and the market environment. Unlike business espionage, which develops information by illegal means like "hacking," competitive intelligence uses public information - information that can be legally and ethically identified and accessed.
