Industry Information

The significant role information plays in the success of industry and its participants continues to dominate academic debate, with the growing volume of multidisciplinary literature demonstrating the complexity of not only defining but accessing relevant information. No one clear interpretation of the term industry information exists with the variables of country, language, sector, purpose, etc., determining the context of what is looked for and where and how it can be located. What is clear, however, is that information has and will continue to be a vital asset among a manager’s skills. For the purpose of this entry, industry information will reflect, as E. Ozgen and R. A. Baron write, “the idea that information plays a crucial role in opportunity recognition… to identify opportunities for viable new ventures, entrepreneurs must somehow perceive, gather, interpret, and apply information about specific industries, technologies, markets, government policies, and other factors.”

Traditional sources of industry information represented by company reports, market research, country, and sector analysis have now been usurped by the digital era, with estimates that by 2011 the digital universe will be 10 times the size it was in 2006. For examples from the digital era, a look at United Kingdom-based industry/business information in the form of information products may be useful. A wide range of industry information sources can be accessed through national, regional, academic, and private library holdings. The sources covered are primarily electronic sources and identify a cross-section of industry information sources from the innovation/ ideas phase through to development and marketing:

COBRA (Complete Business Reference Advisor) database: An encyclopedia covering information relating to start-up, running, and management of a small business, together with examples.

Business-in-a-box Web site: A free start-up business guide covering such areas as staffing, finance, protecting your ideas, etc.

Business Link Web site: Sponsored by the DTI

Small Business Service: supported through local agencies, providing information, advice, guides, and networking.

National Federation of Enterprise Agencies: Independent, nonprofit service to advise prestart and small businesses.