In a dynamic and highly competitive environment, companies continuously encounter internal and external threats that may affect their business performance. To gain a competitive advantage, organizations should seek to turn these threats into opportunities. By introducing Competitive Intelligence (CI) as a process of gathering and protecting material and immaterial resources to influence the environment, companies can use its functions to anticipate, assess, and manage risk. This is especially recommended to small and medium sized business (SMEs) which are the most exposed to risk; however, risk management and CI functions are highly overlooked in the field on SMEs due to limited human and financial resources. Today, SMEs need to embed CI in risk management in order to respond timely to risk, reduce losses, and increase revenue.
The objective of this study is to analyze the role of CI in risks identification, prevention and control, and develop a model suitable for SMEs that illustrates how these companies can anticipate risks and influence the environment through CI process.
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