Forum for reply for Shaina
I like how you have used your current workplace to practically discuss competitive intelligence, Shaina. It is true that many organizations in an attempt to stay on top of their competitors they may neglect ethical and constitution limits. Fischer mentions that ethics is about going the extra mile to meet the rules and regulations. It is also great that you have integrated the Bible with business and ethics, since following ethical ways to do business, it gets everyone rewarded. I think the verse used in your bible integration to explain the importance of ethical measures in competitive intelligence fits perfectly "Leviticus 19: 11" especially where it states one should not deal falsely. A company needs to show a good public image for its continued success.
I agree that public affairs and competitive intelligence capture important data that affects profits of the company and thus work hand in hand. Vuori mentions that social media has a major influence on information environment on companies since it produces versatile information that (2011). In competitive intelligence, social media increases the availability of information sources thus making competitive knowledge more visible in a corporation (Investopedia). You have mentioned that today most organizations use social media platform such as Twitter to connect with consumers.
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The end goal of any company in performing competitive intelligence is to make better decisions that will improve the performance of the organization. The organization should, however, follow the rules and regulations that guide all businesses. Using social media to acquire information on competing companies is a great way for the company to avoid unethical ways. Social media should carry out the competitive intelligence process rather than be sending spies to the other company. However, companies should be careful as to what they share with the public since social media can either contribute to the failure or success of an organization.
Forum for reply for Morgan
Morgan, on your topic of competitive intelligence you have made great points. I totally agree with you that in a competitive market it is wise for organizations to stay abreast of what their competitors are doing, since businesses cannot exist, regardless of how good they are to provide products or services. Organizations have to pay attention to the happenings taking place in the marketplace. By knowing what the competitors are up to, the organization will become more quick and careful in their actions to their competitors ( Fischer) . When a company engages in competitive intelligence observations, the managers will be able to put an immediate implementation of techniques to beat their competitors (Bhasin, 2016 ) . For example, the company can introduce new products which competitors lack or adjust pricing to attract more customers. It is hard for a business to survive without having updates on their competition data. You make a good point when you suggest that competitive intelligence process allows companies to stay ahead of their competitors and have a better understanding of the market flow.
I like that you have discussed the disadvantages of competitive intelligence. As much as it helps the company stay ahead of their competitors, it is questionable how they acquire information. Not all companies will involve ethical research to acquire information; some will pose as spies within an organization which poses a challenge for the public affairs department as you have mentioned. And it also taints the image of the company as it is a requirement to practice ethical standards at all times (Calof, Richards & Smith,2015).
As much as gathering competitive intelligence is important for companies, they should use ethical ways to acquire information. Luke 6: 31 advises that we do unto others what we would love them do unto us, so if you would not want another company spying on you, do not do the same. Besides, CI should not be about making the company stronger against its competitors but analyzing the company position in the market.
References
References for Shania’s response
Fischer, K. (2011). Worldview, Covenant & Ethics
Investopedia .(n.d). Competitive Intelligence. Retrieved from http://www.investopedia.com/terms/c/competitive-intelligence.asp
Vuori, V. (2011). Social media changing the competitive intelligence process: elicitation of employees’ competitive knowledge. Tampereen teknillinen yliopisto. Julkaisu-Tampere University of Technology. Publication , 1001 , 2011. Retrieved from https://tutcris.tut.fi/portal/files/5109627/vuori.pdf
References for Morgan’s response
Bhasin, H. (29 July, 2016). Why gathering Competitive Intelligence is important for business. Marketing 91 . Retrieved from http://www.marketing91.com/competitive-intelligence-is-important-for-business/
Calof, J., Richards, G., & Smith, J. (2015). Foresight, competitive intelligence and business analytics—tools for making industrial programmes more efficient . Foresight-Russia, 9(1), 68-81. Retrieved from https://www.researchgate.net/profile/Gregory_Richards3/publication/275334291_Foresight_Competitive_Intelligence_and_Business_Analytics_-_Tools_for_Making_Industrial_Programmes_More_Efficient/links/5537cab20cf226723ab499c8/Foresight-Competitive-Intelligence-and-Business-Analytics-Tools-for-Making-Industrial-Programmes-More-Efficient.pdf
Fischer, K. (n.d.) Ethics and Corporate Responsibility Basics.
