Lester, a chef and owner of Green Lantern, a popular restaurant, is always visiting his competitors to observe how they are doing things in their restaurants. He told one of his managers, "I eat dinner at a lot of restaurants because I want to know what is going on. I am always concerned that one of our competitors will surprise us with a new service or menu item, like ours but better." In which activity is Lester engaging?

Question

Cherish Lee

Business

19 June, 08:45

Lester, a chef and owner of Green Lantern, a popular restaurant, is always visiting his competitors to observe how they are doing things in their restaurants. He told one of his managers, "I eat dinner at a lot of restaurants because I want to know what is going on. I am always concerned that one of our competitors will surprise us with a new service or menu item, like ours but better." In which activity is Lester engaging?

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Answers (2)

Know the Answer?

Jamar Sampson · Answer 1

Competitive intelligence

Explanation:

Competitive intelligence (CI) is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers in strategic decision making for an organization.

Carlee Ellis · Answer 2

The correct answer is ''competitive intelligence''.

Explanation:

Competitive intelligence, or most commonly known as CI by its acronym, is the name given, in the fields of microeconomics and strategic management, to the term that refers to the strategy of collecting and analysing in a systematic way the major quantity of information possible from multiple sources, including the competitors of a company, in order to make the decision process much easier and therefore make the business go better. This type os strategy includes the action or understanding and learning what is happening in the competitors world.