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Turn employees into cybersleuths

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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.

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