By james l. Clark, snr., esq.
Pressures from competitors, changing customer needs, and the macroeconomy continuously confront businesses, requiring them to constantly evaluate and change their strategic goals and their management tactics (Inkpen, 2000).
Evaluation of strategy includes ongoing assessment of internal strengths and weaknesses and external opportunities and threats. Academic researchers have found that most businesses adequately audit their internal environment but many lack the methodology to properly and accurately assess the external environment (Herring, 1996). Firms are finding that the only way to maintain strategic advantage is by implementing Competitive Intelligence (CI) programs (Caudron, 1994)."
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