Strategic Management the Twenty First Term Paper

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When information and intelligence about competitors is gathered, there are numerous advantages. The first one is that it is possible to emphasize on your own strengths only if you know the strength of your competitor. For example, when there is a presentation in the firm and the client is aware of the fact that this firm has had a lot of experience doing presentations of this sort. (What you need to know about your Competitors)

This, however, does not make a tremendous difference to the client; what if the firm's rival had more experience, then the focus on experience would perhaps make the first firm look a lot less experienced than it is. The second advantage is that everyone needs a point of comparison to compare notes with, and unless this aspect is benchmarked in the field with actual data and proof, how else would one be able to prove that one is indeed the very best there is in that particular field? In addition, it is possible to market the firm better if there was pertinent information about the marketing tactics of the rival firm easily available. The rival may be saying or doing something that you must be saying or doing, that is, in other words, it is better to acknowledge the fact that there are people who may be having similar or better ideas than oneself, and this would go a long way in improving business tactics in today's competitive market.

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(What you need to know about your Competitors)

The conventional sources for competitive intelligence may be either internal information that is, relevant data about what their customers purchase and the various competitor proposals that had been collected by the sales force of the other firm, and so on. Another important source would be from newspapers, magazines, credit reports, and government files. Any interviews that the other firm had conducted with important people like industry leaders would also give information about the rival firm. All these means are ethical and moral, and are widely acknowledged as being within the law. (Competitive Intelligence, How and Where to find it) If such information gathering helps companies perform better, then it must be done. In today's heavily competitive and global business atmosphere, this would increase the performance of businesses across the globe......

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"Strategic Management The Twenty First" (2005, June 24) Retrieved June 4, 2026, from
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