Question

• Discuss the pros and cons of gathering competitive intelligence. Do you consider this to be an ethical practice? Explain.

Answer 1

ANS- Pros of gathering competitive intelligence are given below-

• Competitive intelligence helps us to know our competitors strategy and by knowing that we can prepare ourselves in a better way to beat the competition.
• It gives us relevant product information so that we can provide consumers better product than our competitors.

Cons of gathering competitive intelligence is given below-

• As competitive intelligence is widely used and known to all so there is a chance of getting wrong information or sometimes limited information because companies know that these information will be used by their competitors so they may change their information or provide very limited information.

Yes, i consider this as ethical practice. In this competitive world all are doing their business so that they can be better than others and while doing so they can use any measure which does not harm anyone to know about their competitors. Competitive Intelligence just allows us to know our competitors move so that we can be prepared to face competition and there is nothing unethical in it.