Turn employees into cybersleuths — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
You can use the Internet to educate your team about what your competitors are doing. Examples: Ask an aide to check out your No. 1 competitor’s financial performance on Hoover’s Online (www.hoovers.com), which provides free detailed news on more than 12,000 public and private firms. For more sophisticated analysis, instruct an employee who has a financial background to review your competitor’s recent SEC filings on EDGAR (www.sec.gov/edgarhp.htm). Or assign workers to dig for competitive intelligence by having each of them use different search engines.