Competitive Intelligence Exam 1 Flashcards
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Questions and Answers

What are the four radical changes?

Manage Talent Differently, Use Competitive Intelligence, Work Together, Study Personal use of intelligence

Competitive intelligence has not changed significantly over the last few decades.

False (B)

Why did some analysts have their input incorporated into major management decisions, while others didn't? (Select all that apply)

  • The analyst was involved in product launches. (correct)
  • The analyst's report called for proactive action more than reaction. (correct)
  • The analyst was assigned a "sign-off" authority over major decisions. (correct)
  • Management was open to perspectives that were different from the internal consensus. (correct)

    • A common theme across industries was the _______________.

    <p>smart reallocation of resources</p> Signup and view all the answers

    What does SCIP stand for?

    <p>Strategic and Competitive Intelligence Professionals</p> Signup and view all the answers

    What is competitive intelligence?

    <p>A systematic program for gathering and analyzing information about your competitor's activities and general business trends to further your own company's goals</p> Signup and view all the answers

    What is industrial espionage?

    <p>The illegal and unethical theft of business trade secrets for use by a competitor to achieve a competitive advantage</p> Signup and view all the answers

    What are the five steps in the American Bar Association's process for CI? (Select all that apply)

    <p>Dissemination of the intelligence (A), Decision and actions (B), Planning and direction (C), Data collection and research (D), Data analysis and production (E)</p> Signup and view all the answers

    Which of the following are sources of secondary research? (Select all that apply)

    <p>Industry reports &amp; syndicated services (C), Government/academic databases (D), Trade press (news) (E)</p> Signup and view all the answers

    Which of the following are sources of primary research? (Select all that apply)

    <p>Surveys (B), Human intelligence (E), Digital fingerprints (F)</p> Signup and view all the answers

    What is market orientation?

    <p>Organization-wide gathering, dissemination, and responsiveness to intelligence about customers and competitors.</p> Signup and view all the answers

    Which of the following databases are noted for their strengths in specific types of business information? (Select all that apply)

    <p>IBIS World (A), Business Source Premier (B), Euromonitor (C), Gale Insights (D)</p> Signup and view all the answers

    Which of the following CI tools are best suited for specific tasks? (Select all that apply)

    <p>Talkwalker (A), SEMrush (B), Spyfu (C), Crunchbase (D), MOAT (E), SimilarWeb (F), GoogleAlerts (G), Owler (H), Visualping (I)</p> Signup and view all the answers

    What does KIT mean?

    <p>Key Intelligence Topics</p> Signup and view all the answers

    Which of the following are the three major types of KITs? (Select all that apply)

    <p>Descriptions of key players in your market place (A), Early Warnings (C), Strategic Decisions and actions (E)</p> Signup and view all the answers

    Which of the three KIT types best describes "looking up information on other companies suppliers"?

    <p>Descriptions of key players in your market place (B)</p> Signup and view all the answers

    Which of the following are major ideas found in the results section of a competitive intelligence analysis? (Select all that apply)

    <p>Competitive analysis (B), The usage of advanced analytical techniques (C), Competitive technical intelligence analysis (E)</p> Signup and view all the answers

    What is Murphy's law of intelligence gathering?

    <p>The corporate information you are seeking is probably located in the very sources you decided to overlook because those sources were too obvious</p> Signup and view all the answers

    What are the two major problems encountered when searching for corporate information? (Select all that apply)

    <p>How many importers, suppliers, manufacturers, distributors, customer groups, trade organizations and news media are there (B), Which of these control the largest share of the market (D)</p> Signup and view all the answers

    The _______ is your most valuable research tool.

    <p>telephone</p> Signup and view all the answers

    What is the main idea in the first paragraph under "Beware of Technobabble"?

    <p>You need to speak and write in ways that others understand</p> Signup and view all the answers

    What is the definition of elicitation?

    <p>The strategic use of conversation to extract information from people without giving them the feeling they are being interrogated</p> Signup and view all the answers

    The two main reasons why groups err are informational signals and reputational pressures.

    <p>True (A)</p> Signup and view all the answers

    Why do most people get decision making all wrong?

    <p>We take the least productive approach: advocacy</p> Signup and view all the answers

    Which of the following techniques can increase cognitive conflict while decreasing affective conflict? (Select all that apply)

    <p>Explain the rationale behind your decision (A), Convey openness (D), Listen attentively (E)</p> Signup and view all the answers

    What was the difference in the reward system between WWII and Vietnam?

    <p>Both got to go home after the war was won</p> Signup and view all the answers

    What are the four major factors that contribute to the prevalence of fouled-up systems? (Select all that apply)

    <p>Hypocrisy (A), Overemphasis on highly visible behaviors (B), Emphasis on or Equity rather than efficiency (C), Fascination with an &quot;Objective&quot; Criterion (F)</p> Signup and view all the answers

    What is the "comfortable clone syndrome"?

    <p>Coworkers share similar interests and training; everyone thinks alike</p> Signup and view all the answers

    What are cognitive differences?

    <p>Varying approaches to perceiving and assimilating data, making decisions, solving problems, and relating to other people</p> Signup and view all the answers

    The most widely recognized cognitive distinction is between _______ and _______ ways of thinking.

    <p>Left-brained; Right-Brained</p> Signup and view all the answers

    What are the two components that make up the definition of critical thinking? (Select all that apply)

    <p>Cognition (A), Meta-Cognition (B)</p> Signup and view all the answers

    Which of the following are critical thinking traps? (Select all that apply)

    <p>Analysis/paralysis (A), Baseline Information (B), Emotions (C), Framing (D), Lack of Situational Awareness (E), Selective Perception (F), Overconfidence (G)</p> Signup and view all the answers

    Which of the following are guidelines for critical thinking (CTR-S)? (Select all that apply)

    <p>Fairness (A), Precision (B), Depth (C), Breadth (D), Significance (E), Clarity (F), Accuracy (G), Relevance (H)</p> Signup and view all the answers

    Which of the following are legal problem considerations in CI? (Select all that apply)

    <p>Problems that arise when an insurer or its agent obtains information from public sources or from third parties (B), Problems that arise with the obtaining of competitive intelligence by competitors acting cooperatively (D)</p> Signup and view all the answers

    What does Section 1 of the Sherman Act prohibit?

    <p>Agreements in restraint of trade, such as price-fixing, refusals to deal, bid-rigging, etc.</p> Signup and view all the answers

    What are the potential penalties for violating the Sherman Act? (Select all that apply)

    <p>Up to 10 years in prison for individuals (A), Loss of business licenses (B), Civil lawsuits by affected parties (C), Fines up to $5 million for organizations (D)</p> Signup and view all the answers

    Which of the following statements are true about conducting a survey under the Statement on Healthcare? (Select all that apply)

    <p>A survey must be managed by a third party (B), The information must be at least three months old (C)</p> Signup and view all the answers

    What is the Freedom of Information Act?

    <p>It gives all citizens the right to inspect all records of federal agencies except those containing military, intelligence, or trade secrets; increases accountability of bureaucracy</p> Signup and view all the answers

    What is the Sunshine Act?

    <p>Requires that most government meetings be conducted in public and that notice of such meetings must be posted advance</p> Signup and view all the answers

    What is a trade secret?

    <p>A formula, device, idea, process, or other information used in a business that gives the owner a competitive advantage in the marketplace</p> Signup and view all the answers

    What must the owner of a customer list do to make it a trade secret?

    <p>The owner must make reasonable efforts to keep the information a secret</p> Signup and view all the answers

    What is Reverse Engineering?

    <p>The process of taking something apart and analyzing its workings in detail</p> Signup and view all the answers

    Which of the following are improper methods of acquiring information? (Select all that apply)

    <p>Breach of contract (B), Theft (C), Fraud (D), Unauthorized interception of communications (E)</p> Signup and view all the answers

    What are the two types of industrial espionage? (Select all that apply)

    <p>Actively seeking to gather intelligence about a company or organization (B), Concealment or denial of access of key information related to pricing, bidding, planning, research and more (D)</p> Signup and view all the answers

    Which of the following industries are most commonly associated with industrial espionage? (Select all that apply)

    <p>Aerospace (A), Chemical (B), Technology (C), Auto (D), Biotech (E), Energy (F)</p> Signup and view all the answers

    What is the definition of teleological reasoning?

    <p>Evaluation of the sum total of goodness versus badness likely to be provided by each alternative for all relevant stakeholders. FOCUSED ON OUTCOMES</p> Signup and view all the answers

    Immanuel Kant was a deontologicalist.

    <p>True (A)</p> Signup and view all the answers

    How do people make decisions?

    <p>Some individuals in some situations will be strict (ex: &quot;Kantian&quot;) deontologists (completely ignoring the consequences of alternative actions). Some individuals in some situations might be strict (ex: &quot;Millsian utilitarian&quot;) teleologists focusing only on the consequences (ex: &quot;the ends justifies the means&quot;).</p> Signup and view all the answers

    Which of the following are tenets of relativism? (Select all that apply)

    <p>Ethical relativism (B), Cultural relativism (C)</p> Signup and view all the answers

    What is the stated conclusion of the reading on "ethical diversity in organizations"?

    <p>(1) What kindsof personal moral codes do employees ofyour organization have now? (2) Are thesethe kinds of personal moral codes that yourorganization desires? (3) What communica-tions, policies, and procedures should beintroduced, changed, or deleted</p> Signup and view all the answers

    What does relativism really mean? (Select all that apply)

    <p>Nihilism (A), Subjectivism (B)</p> Signup and view all the answers

    Which of the following are tenets of scientific realism? (Select all that apply)

    <p>The world is independent of it being perceived (A), We can develop genuine knowledge of the world (B), Critical thinking is essential for understanding reality (C)</p> Signup and view all the answers

    Which of the following are steps from the CI book? (Select all that apply)

    <p>Begin the interview process (A), Conduct a debriefing (B), Learn the industry structure (C), Milk those articles (look for names of key people) (D), Define the question (E), Prepare a strategy (of what are the best sources to focus on) (F), Know your sources (basic and creative) (G), Retrieve the articles/explore the library (H), Conduct a literature search (I)</p> Signup and view all the answers

    Which of the following statements about the definition of CI is true? (Select all that apply)

    <p>The definition of CI includes a systematic program for gathering and analyzing information about... (B)</p> Signup and view all the answers

    What does the Euromonitor Passport provide?

    <p>Industry data, country reports, international market reports, company profiles, and expert commentary</p> Signup and view all the answers

    What does Business Source Premier provide?

    <p>Business and trade publications, SWOT analysis, and book chapters</p> Signup and view all the answers

    If a trade secret becomes public information, it is still protected under US patent code law.

    <p>False (B)</p> Signup and view all the answers

    Privacy, confidentiality, and trade secrets are examples of CI problems that arise with the obtaining of competitive intelligence by competitors acting cooperatively.

    <p>False (B)</p> Signup and view all the answers

    What are the two major CI legal problem types? (Select all that apply)

    <p>Problems that arise when an insurer or its agent obtains information from public sources or from third parties (A), Problems that arise with the obtaining of competitive intelligence by competitors acting cooperatively (D)</p> Signup and view all the answers

    What are the violation penalties for the Sherman Act? (Select all that apply)

    <p>Up to 10 years in prison for individuals (A), Fines up to $5 million for organizations (B), Civil lawsuits by affected parties (C), Loss of business licenses (D)</p> Signup and view all the answers

    What are State Public Records Acts also called?

    <p>Public right to know acts</p> Signup and view all the answers

    Reverse Engineering is a common improper method of acquiring information.

    <p>False (B)</p> Signup and view all the answers

    Which of the following is the most common type of industrial espionage?

    <p>Actively seeking to gather information related to pricing and bidding (A)</p> Signup and view all the answers

    What does scientific realism believe? (Select all that apply)

    <p>Critical thinking is essential for understanding reality (B), The world is independent of it being perceived (C), We can develop genuine knowledge of the world (D)</p> Signup and view all the answers

    What concept is included in the Philosophy of relativism?

    <p>Nonovulation Thesis</p> Signup and view all the answers

    What does relativism actually imply? (Select all that apply)

    <p>All perspectives are equally valid (A), Morality is solely a matter of personal opinion (B), There is no objective truth or reality (C)</p> Signup and view all the answers

    Executives must actively recruit and promote on tolerance of ambiguity mindsets where the unexpected builds perspectives.

    <p>True (A)</p> Signup and view all the answers

    What are the two major problems in searching for corporate information? (Select all that apply)

    <p>Which of these control the largest share of the market (A), How many importers, suppliers, manufacturers, distributors, customer groups, trade organizations and news media are there (C)</p> Signup and view all the answers

    What is the relationship between the reward systems for United States soldiers fighting in WWII and Vietnam? (Select all that apply)

    <p>They both had the same hope, but different reward systems (A)</p> Signup and view all the answers

    Study Notes

    Competitive Intelligence Exam 1 Flashcards - Study Notes

    • Radical Changes in Competitive Intelligence: Manage talent differently, utilize competitive intelligence, collaborate effectively, and cultivate individual intelligence skills.

    • CI Evolution: AI can enhance CI skills, increasing recognition and board-level influence for sustainability. However, the statement that this is an area of change is false.

    • Analyst Input Incorporation: Analysts with decision-making authority, receptiveness to diverse perspectives, proactive recommendations, and involvement in product launches are more likely to have their input considered by management

    • Common Industry Theme: Smart resource allocation.

    • SCIP: Strategic and Competitive Intelligence Professionals.

    • Competitive Intelligence (CI): A systematic process for gathering and analyzing competitor activity and general market trends to aid a company's objectives.

    • Competitive Dis-Intelligence: Strategically misleading competitors by disseminating false data.

    • Industrial Espionage: Unethically acquiring trade secrets from competitors to gain a competitive advantage.

    • American Bar Association's 5-Step CI Process: Planning/direction, data collection/research, data analysis/production, intelligence dissemination, and decision/actions.

    • Secondary Research Sources: Trade press, industry reports, government/academic databases.

    • Primary Research Sources: Human intelligence, surveys, digital footprints.

    • Market Orientation: Company-wide focus on gathering, sharing, and responding to intelligence about customers and rivals.

    • Business Intelligence Tool Differences:

    • Crunchbase: Quick competitor and financial overview (stock trends, investments, acquisitions).

    • Owler: Identifying potential competitors and assessing relative standing.

    • Talkwalker: Alternative to Google Alerts (competitor news/social media comparisons).

    • Visualping: Alerts regarding competitor website changes.

    • SimilarWeb: Website performance comparisons with top competitors, optimizing plans.

    • Spyfu: SEO improvement and organic search traffic comparison with competitors.

    • MOAT: Digital advertisement comparisons and promotion tracking.

    • Google Alerts: Comprehensive competitor/industry news alerts.

    • SEMrush: Data-driven marketing decisions based on competitor strategies.

    • KIT: Key Intelligence Topics.

    • KIT Types: Strategic Decisions/Actions, Early Warnings, Key Player Descriptions.

    • Example KIT: Supplier information is considered a Key Player Description.

    • CI Analysis Results Focus: Competitive technical intelligence analysis, competitive analysis, and advanced analytical techniques.

    • Murphy's Law of CI: Difficult-to-locate corporate information is often overlooked because of its apparent ease of access.

    • Corporate Information Search Challenges: Large number of sources and determining the market share control of key players.

    • Most Valuable Research Tool: Telephone.

    • Technobabble Avoidance: Communicate clearly and understandably.

    • Elicitation: Strategically using conversations to gain information without interrogating.

    • Group Decision-Making Errors: Informational signals and reputational pressures.

    • Faulty Decision-Making: Advocacy-based approaches are least productive.

    • Improving Cognitive Conflict: Convey openness, attentive listening, and rationale explanation (avoiding overt conflict).

    • WWII/Vietnam Reward Systems: Both systems ultimately led to soldiers going home once the war was resolved but differed in other aspects.

    • Fouled-up Systems Factors: Fascination with objective criteria, overemphasis on visibility, hypocrisy, emphasis on equity rather than efficiency.

    • Comfortable Clone Syndrome: A tendency for coworkers to have similar interests and training, hence similar thinking.

    • Cognitive Differences: Different approaches to data perception, decision-making, problem-solving, and relationships.

    • Primary Cognitive Ways of Thinking: Left-minded and right-minded ways of assimilation and perception.

    • Critical Thinking components: Cognition & Meta-cognition.

    • Critical Thinking Traps: Framing, overconfidence, selective perception, emotions, analysis/paralysis, baseline information, and lack of situational awareness.

    • Critical Thinking Guidelines: Clarity, accuracy, precision, relevance, depth, breadth, significance, and fairness.

    • CI Legal Problem Considerations: Cooperative competitor conduct (antitrust/unfair competition) and information acquisition from third parties (privacy, confidentiality, trade secrets).

    • Sherman Act, Section 1: Restraint of trade (e.g., price-fixing).

    • Sherman Act, Section 2: Monopolization and attempts to monopolize.

    • Sherman Act Violations: Penalties up to 10 years imprisonment for individuals and $5 million fines for organizations.

    • Healthcare Survey Considerations: Third-party management and at least 3-month-old data.

    • Freedom of Information Act: Accessing federal agency records (except military/intelligence/trade secrets).

    • Sunshine Act: Public access to government meetings.

    • Trade Secret: Confidential business information that creates a competitive edge.

    • Trade Secret Protection: Reasonable efforts required to maintain secrecy.

    • Reverse Engineering: Detailed analysis of a product's functionality.

    • Improper Information Acquisition Methods: Theft, fraud, breach of contract, unauthorized interception.

    • Industrial Espionage Types: Active seeking of information or concealment/denial of access to key information.

    • Industrial Espionage Sources: Primarily technology-heavy industries.

    • Teleological Reasoning: Evaluation based on the overall outcomes for all stakeholders.

    • Deontological Reasoning: Right versus wrong judgments based on moral principles.

    • Kant's Reasoning Type: Deontological.

    • Decision-Making Approaches: Deontological and teleological.

    • Relativism Tenets: Cultural and ethical relativism.

    • Ethical Diversity Conclusion: Determining personal moral codes of employees, aligning those codes with organizational desires, and developing communication/policy modifications.

    • Relativism's True Meaning: Nihilistic– inability to know anything about anything.

    • Scientific Realism Tenets: Independent world, genuine knowledge pursuit, critical thinking.

    • CI Research Steps: Defining questions, industry structure understanding, source identification, literature search, article retrieval, proactive strategies, interviews, and debriefing.

    • Combined Definitions (Card 58): CI's systematic, gathered, and analyzed information about competitors and trends.

    • Euromonitor Passport: Detailed industry, country, and market reports, company data, commentary.

    • Business Source Premier: Business publications, articles, SWOT analyses, book chapters.

    • Trade Secret Public Disclosure Protection: Trade secrets are not protected under US patent code if they are already public.

    • Competitive Intelligence and Legal Concerns: Privacy, confidentiality, and trade secrets are separate concerns from cooperating competitors using competitive intelligence.

    • CI Legal Issues: This relates to problems that can arise from competitors acting cooperatively, like antitrust concerns, or problems when insurers and agents get information, involving things like privacy, confidentiality, and trade secrets.

    • Sherman Act Violations Penalties: Fines and imprisonment for individuals and organizations.

    • Public Right to Know Acts: The common name for State Public Records Laws

    • Reverse Engineering and Improper Information Acquisition: Reverse Engineering is NOT a violation.

    • Industrial Espionage: The most common form involves actively seeking intelligence about a company (theft of intellectual property).

    • Scientific Realism: The belief that a reality independent of perception exists and can be understood.

    • Relativism and "Nonovulation Thesis": The nonovulation thesis might be related to the cultural context but is not stated as a component from what is provided.

    • Relativism Implies: Nihilism or there being no knowledge in anything that is said.

    • Executive Mindset for Ambiguity: Embrace unexpected perspectives and promote tolerance of ambiguity.

    • Problems in Corporate Information Search: Large number of sources and determining market share control of key sources.

    • World War II/Vietnam Reward Systems Similarities: Soldiers in both wars eventually received the reward of returning home; however, the details were significantly different.

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    Prepare for your Competitive Intelligence Exam with these flashcards. The study notes cover key concepts such as the evolution of CI, the importance of analyst input, and resource allocation strategies. Enhance your understanding of systematic processes in gathering and analyzing market trends.

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