The opportunities of the use of competitive intelligence in business

literature review

Research output: Contribution to journalArticle

Abstract

The article is aimed at the revelation of the opportunities of competitive intelligence application in business using different ways and tools of information collection. The scientific literature identifies the following stages of CI interpreting it as a process: establishment of the need, evaluation of the need, need fulfilment plan, need funding, long-term plan making. However, companies not always search for the information about competitors’ actions but they might want to seek to protect their information from competitors. Under the conditions of this reverse need, the following stages of CI can be defined: identification of possible threats, evaluation of the threats; assessment of threat level, selection of priorities, funding, and threat elimination. It has been established that the most popular CI information sources are as follows: company’s own knowledge obtained while searching competitors’ websites, participation in fairs and exhibitions. It shows that information is easily accessible, although it is not always reliable or verified. The model presented by the authors of the article enables to identify the main specificities of CI using in big and small - medium business sectors. The main differences between these two sectors include CI funding and access to secret competitors’ information.
Original languageEnglish
Pages (from-to)9-16
JournalJournal of small business and entrepreneurship development
Volume1
Issue number2
Publication statusPublished - 2013

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Competitors
Competitive intelligence
Literature review
Threat
Funding
Evaluation
Business sector
Information collection
Participation
Specificity
Information sources
Web sites

Keywords

  • Competitive intelligence
  • Business enterprises
  • Small and medium business

Cite this

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title = "The opportunities of the use of competitive intelligence in business: literature review",
abstract = "The article is aimed at the revelation of the opportunities of competitive intelligence application in business using different ways and tools of information collection. The scientific literature identifies the following stages of CI interpreting it as a process: establishment of the need, evaluation of the need, need fulfilment plan, need funding, long-term plan making. However, companies not always search for the information about competitors’ actions but they might want to seek to protect their information from competitors. Under the conditions of this reverse need, the following stages of CI can be defined: identification of possible threats, evaluation of the threats; assessment of threat level, selection of priorities, funding, and threat elimination. It has been established that the most popular CI information sources are as follows: company’s own knowledge obtained while searching competitors’ websites, participation in fairs and exhibitions. It shows that information is easily accessible, although it is not always reliable or verified. The model presented by the authors of the article enables to identify the main specificities of CI using in big and small - medium business sectors. The main differences between these two sectors include CI funding and access to secret competitors’ information.",
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T1 - The opportunities of the use of competitive intelligence in business

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AU - Gaspareniene, Ligita

AU - Remeikiene, Rita

AU - Gaidelys, Vaidas

PY - 2013

Y1 - 2013

N2 - The article is aimed at the revelation of the opportunities of competitive intelligence application in business using different ways and tools of information collection. The scientific literature identifies the following stages of CI interpreting it as a process: establishment of the need, evaluation of the need, need fulfilment plan, need funding, long-term plan making. However, companies not always search for the information about competitors’ actions but they might want to seek to protect their information from competitors. Under the conditions of this reverse need, the following stages of CI can be defined: identification of possible threats, evaluation of the threats; assessment of threat level, selection of priorities, funding, and threat elimination. It has been established that the most popular CI information sources are as follows: company’s own knowledge obtained while searching competitors’ websites, participation in fairs and exhibitions. It shows that information is easily accessible, although it is not always reliable or verified. The model presented by the authors of the article enables to identify the main specificities of CI using in big and small - medium business sectors. The main differences between these two sectors include CI funding and access to secret competitors’ information.

AB - The article is aimed at the revelation of the opportunities of competitive intelligence application in business using different ways and tools of information collection. The scientific literature identifies the following stages of CI interpreting it as a process: establishment of the need, evaluation of the need, need fulfilment plan, need funding, long-term plan making. However, companies not always search for the information about competitors’ actions but they might want to seek to protect their information from competitors. Under the conditions of this reverse need, the following stages of CI can be defined: identification of possible threats, evaluation of the threats; assessment of threat level, selection of priorities, funding, and threat elimination. It has been established that the most popular CI information sources are as follows: company’s own knowledge obtained while searching competitors’ websites, participation in fairs and exhibitions. It shows that information is easily accessible, although it is not always reliable or verified. The model presented by the authors of the article enables to identify the main specificities of CI using in big and small - medium business sectors. The main differences between these two sectors include CI funding and access to secret competitors’ information.

KW - Competitive intelligence

KW - Business enterprises

KW - Small and medium business

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