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Understanding the World of Competitive Intelligence

Victoria L. Rayner March 2007 issue of Skin Inc. magazine

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In today’s hypercompetitive business world, it is worthwhile to gain some knowledge of competitive intelligence. It is sometimes easier to play down the threat of competition or to completely ignore the devastating effect that a spy could have on a commercial operation, but the cold reality is that if your establishment is superior to most, chances are that it is already under surveillance by an ambitious rival.

Protecting trade secrets and uncovering the improper and dubious actions of those who are determined to reveal details of your operation to competitors is serious business. What can be done about it? Nobody in the beauty business is exempt from the theft of ideas or clientele. Plans for the expansion and growth of your enterprise could be ruined if they were to fall into the wrong hands.

Like it or not, industrial espionage is more widespread than ever before, and it comes from within your facilities as well as from outside them. Sometimes it takes a long time before you realize the full implications of what has been taken, so you must be ever-vigilant and protect yourself from those who wish to overtake your particular market segment or who wish you ill will.

Learn about your competition

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