Website Launched:  12/26/1994 Last Update:  2/14/2013 The Integrity Center, Inc. "objective risk management services" (972) 484-6140 [ Since 1984 ] HOME Reference Articles   SCREENING Check List Backgrounds TUTORIALS SERVICE MENU FCRA THIS COMPANY Our Methods Why Use Us Myths Pitfalls CHECK MYSELF CHECK NANNY USEFUL LINKS Library Statistics PRESS RELEASE The Integrity News Vol. X No. 28 ISSN 1081-2717 November 26, 2001 Business Week (pgs 56-58) The Corporate Spy In a recession, competitive intelligence can pay off big. Its like a crystal ball. CLOAK AND DAGGER -- how three companies used corporate intelligence. An electronics distributor avoided a price war by focusing its marketing resources after finding out that four top competitors would be exiting the field. A flooring company found out that a competitor was going to miss a product launch date and used that information to win a contract from a top retailer. An electronics giant found out that one of its competitors might buy a software supplier and they moved quickly to buy the company themselves. Competitive intelligence involves LEGAL methods of data collection and analysis, from scouring securities filings and news reports to database research to schmoozing with representatives of rival companies at trade shows. It is NOT corporate espionage which involves the theft of trade secrets through illegal means such as wiretaps, bribery, and cyber-intrusions. "Companies that engage in corporate spying see a payoff in increased revenue, costs avoided, and better decision-making." Most major corporations spend over a million dollars per year on competitive intelligence. But companies of all sizes need to know what the competition is doing, planning, thinking about, and worrying about. 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