How Can You Engage In Competitive Intelligence Without Being Unethical?

What is an example of an ethical conflict related to competitive intelligence?

Unethical collection of competitive intelligence Lying in general.

Pretending to be a customer looking to purchase something.

Posing as a job seeker at informational interviews.

Claiming to be from a company other than the one you work at..

Is it ethical to spy on your competitors?

The moral or ethical issues on the subject of spying are a bit dodgy. On the extreme end, conducting industrial espionage may be illegal. Hiring someone from inside the enemy camp and transforming him or her into an industrial spy may violate all sorts of commercial and legal laws.

How do you collect competitive intelligence?

Gathering Information Competitive intelligence can be gathered by going through business ads or visiting the competitor’s website. A company can learn which business practices consumers like best by searching through business reviews. None of these information-gathering techniques carry direct financial costs.

What is the goal of competitive intelligence?

For any group, the goal of competitive intelligence is to help make better-informed decisions and enhance organizational performance by discovering risks and opportunities before they become readily apparent.

Can a business be ethical?

No one can put ethics before the bottom line and succeed in today’s business climate. … More and more companies are learning the power of the high road—they’re creating standards for themselves and their employees; they’re doing business ethically; and they’re acting as good corporate citizens in their communities.

Is it ethical to gather information through corporate spying?

Generally, collecting information on a competitor is fair play as long as: … You do not use fraud or break any laws while gathering information.

Is Competitive Intelligence illegal?

So, based on the law, competitive intelligence is completely legal. … Gathering information by not disclosing who you are to a competitor or by lying would be considered unethical, but it’s not illegal. The best competitive intelligence professionals don’t conduct their practice through illegal or unethical means.

What ethical issues do you need to think about when gathering market intelligence?

Further, companies can be faced with a public backlash if their market research practices are perceived as unethical.The Use of Deceptive Practices. … Invasion of Privacy. … Breaches of Confidentiality. … Undertaking Objective Market Research.