Competitive intelligence in entrepreneurial and start-up businesses

Abstract

Competitive intelligence is absolutely critical to any entrepreneurial endeavor. However, entrepreneurial businesses face unique issues in regard to gathering reliable competitive intelligence and analyzing it for incorporation into their strategy. Start-up companies, with constrained financial resources, may have less access to research and analysis, and fewer people are available on staff to complete more tasks. On the other hand, with flatter hierarchies it is often easier to get the attention of decision-makers. Due to the relative lack of dedicated resources, the most important aspect of CI processes at small companies is organizing for speed and simplicity. Small and start-up businesses must focus on low-cost resources that are available and take advantage of the relationships and rapport between employees and the firm's leaders. © 2000 John Wiley & Sons, Inc.