Economic Intelligence and Entrepreneurial Activities. The Crucial Role of Information

Inhaltsangabe oder Einleitung

This paper attempts to define economic intelligence as a stand-alone part of the overall entrepreneurial equation. It also focuses on how it does facilitate entrepreneurial processes. In business like in the army, the role of information is crucial. In wartime, all means are used to get information on the enemy, the number, his arms and his strategy and so on.

In business, information on competitors, their strengths, their weaknesses and their strategy is necessary to define his own strategy. Like in the war, it is a question on death or survival. A business can grow or fail. Having useful and timely information on a business environment (customers, suppliers, competitors, regulations, economic and social situation), helps to make a good decision and to survive and remain a competitor.

Economic intelligence is based on a competitive environment’s surveillance system of the economic agents and the actions on it, with the purpose of detecting the threats and exploiting the opportunities. Economic Intelligence aims to take advantage of the opportunity to develop better methods for the identification of relevant sources of information, the analysis of the collected information and its manipulation to provide what the user needs for decision-making.