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Who are you conducting competitive intelligence for? Are you doing it for you or for your customers? Or maybe for your stockholders?

Competitive intelligence should be seen as an asset. Whether you are a corporation or a small business, you have competition and if you expect to remain competitive within your niche then you need to stay on top of what your competition is doing. Your stockholders expect it. Your customers will appreciate it (even if they don’t know you are doing it). Your employees need it. And you have a responsibility to each of them.

Competitive intelligence is something that must be done for your company’s survival. Without a good idea of the competitive landscape within your industry you will likely not survive. That will place your stockholders’ investments at risk, your customers could end up doing business elsewhere, and your employees may lose their jobs. A good competitive intelligence strategy is a necessary part of doing business.

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