Question

An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors is called:_______a) an auditb) industrial espionagec) competitive researchd) differential competitive advantagee) competitive intelligence

Answer 1

Answer:

Letter e is correct. Competitive intelligence.

Explanation:

A competitive intelligence system is based on the collection, processing and analysis of information about its competitors' characteristics and activities that will assist in better understanding of market scenarios, trends and technologies in order to more successfully achieve organizational goals and objectives.

By transforming data into information relevant to the decision-making process, organizations achieve competitive advantages relevant to long-term survival in an extremely competitive marketplace.

The advantages of having a competitive intelligence system is to analyze the internal and external forces related to the organization, gain the ability to anticipate market changes and competitors' actions, insertion in a new market and others.