Which of the following is an accurate statement concerning the process of competitor intelligence gathering?
A) It is legal but unethical.
B) It is time-consuming and costly to gather.
C) The vast majority of what managers need to know about competitors can be found out from their own employees, suppliers, and customers.
D) It typically involves organizational spying.
E) It is typically illegal and unethical.

Question

Quizplus · Accepted Answer

Competitor intelligence gathering can be done through legal and ethical means such as monitoring public information sources like the competitor's website, social media, press releases, financial reports, and industry publications. However, obtaining confidential information about the competitor's strategic plans, operations, and trade secrets through illegal and unethical means like organizational spying, bribery, and industrial espionage can lead to legal and ethical consequences. Moreover, managers can obtain valuable information about competitors from their own employees, suppliers, and customers who have direct interactions and insights into the competitor's products, services, and business practices. This can save time and cost associated with external scanning methods.

Which of the Following Is an Accurate Statement Concerning the Process