The value of Information : In modern entrepreneurship, increasing importance is placed on acquiring and training more competent managers. A prerequisite for this move on the part of businesses is that most knowledge is now ‘visible’, i.e. it constitutes practices and know-how that are taught and acquired through appropriate training. In contrast, in earlier times, business knowledge was to a greater extent ‘tacit’, since it involved patents and patents that were not widely known. Similarly, the sources of information for a company can be open, i.e. publicly accessible, or closed.
The emphasis of firms on tacit knowledge does not necessarily imply a reduction in the importance of tacit knowledge and non-publicly accessible information, but on the contrary, since as this information is now fewer in number, it may be even more crucial for the future of a firm. Thus, the development of a business must be based to a large extent on the use of tacit knowledge and information obtained from closed sources.
In collecting and analysing information, firms focus on two strategies. The first strategy concerns the protection of their information. Thus, firms put “gates” on the dissemination of information among company executives; they make sure that they are informed about possible critical contacts of their executives with competitors and the nature of their contacts; they put legal barriers to the recruitment of their executives by other firms; they carefully select the strategy-related information shared on their website, etc.
This strategy is therefore aimed at protecting the dissemination of information.
The second strategy aims to access new information. This new information may concern the past activities of a prospective supplier, the study of competitors’ movements in the market, the collection of information about a prospective customer, etc.
It is also important to stress that the use of information can be both useful and destructive.
In particular, various companies deliberately disseminate misleading information to their competitors’ environment so that it can be used in their competitors’ strategic planning, thus causing disastrous consequences for them. For this reason, it is of central importance not only to collect information, but also to be aware of whether it is reliable.
Overall, the value of information is something that is only fully known to the final recipient, who uses it to reshape the strategy of the company. Thus, professional private researchers often have an ancillary role in business moves, undertaking the collection of information to meet the needs of the business in question.
Pelekasis Nikos and Associates
Private Investigation Agency | Detective Athens
- 210 4131519
- 693 2204444