Select three of the following approaches that a manager might use to gather information about competitors.
- Using a “clipping agency” to scour the business press, e.g. Fortune, Bloomberg BusinessWeek, etc., for information on competitors
- Obtaining U.S. Securities and Exchange reports
- Being a customer of competitors
- Creating a phony company to act as a potential customer
- Reverse engineering competitors’ products
- Hiring consultants who have worked for competitors
- Asking suppliers about your competitors
- Hiring companies to collect and examine competitors’ garbage
- Changing the interview process for a new position when a candidate is from a direct competitor
- Taking public tours of competitors’ facilities
- Using social media to cause competitors harm
- Using trade shows and conferences to learn more about competitors
- Hiring key employees from competitors.
In your post, respond to the following questions:
- What information are you likely to obtain from each of the methods you have selected?
- Will each of the methods you have chosen, considered separately or together, yield an accurate and complete representation of your competitive environment? Why or why not?
- Describe the ethical concerns, if any, that you might have about each of the methods you have chosen.
- Describe another method you may have considered as you made your selections from the above listing. Add that method and evaluate it.
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