Question

IN 200 WORDS OR MORE

Explain the ethical use of information technology in order to develop competitive intelligence. Give an example

Answer 1

Competitive intelligence is to collect data of the competitors and make a justifiable decision to formulate the correct business strategy for making own decisions to achieve victory in the marketplace. To construct a profitable business it is required to know the competitors plan very sharply so to make the decisions in such a way that the decision should meet the goal and fulfill the vision of the company.

The main approach is to collect information in the most ethical way with the use of information technology. There are various techniques that lead to collect and obtain competitors confidential information that can be ethical or unethical in practice.  
For an example:

There is some hidden information which the competitors have secured and saved in their databases. This information can be the next 2-years architecture or blueprints of the competitors marketing plans and implementation process. If somehow it is stolen by hacking or malpractice, then it will break the positive factor of ethics which is not acceptable.

The information technology should be utilized through an ethical process by targeting competitors working Performa from their designed official websites, campaigns, following blogs, and other marketing tactics which are required to be analyzed well and that will replicate the complete pattern of the competitors work structure.

With the utilization of information technology, marketing or promotional approach of the competitors is necessary to be researched. With the correct analyzing factor the most crucial work pattern, strategies, decision-making process and their intentions of bringing any innovative upcoming product are required to be effectively identified. This process will help to know the way that the competitors will function.

Another major factor is the online platform, which is also a part of the information technology for gathering resources of the competitors. In the online platform, the competitors publish advertisements, interact with the audiences and perform much more activities for promotional purposes. The details of their conversation need to be collected and keenly focused so that a plan should be made as per the competitors choice for the interest in some specific products, so to run the same type of business by gathering the majority of the consumers on the own organizational behalf by adding a little change in creativity. Therefore, to deal with the challenges it is required to develop competitive intelligence, but in an ethical approach.