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Adjusting a company to its competitive environment is often done without proper knowledge of the competitive environment. This paper seeks to describe methods and tools that could be used to improve internet‐based scanning of the competitive environment. In addition, the paper aims to describe an example where such methods and tools are used.

Existing literature on environmental scanning, competitive intelligence, and benchmarking is reviewed to brief the theoretical background, and to find new ideas to improve scanning of the competitive environment. Using theory‐building approach, the research is based on constructive methodology. The construction is done in ABB Corporate Research, in the Business Technology Portals Project.

Experts scan the environment using the advanced tools, interviews and knowledge sharing, and managers mainly scan by discussing with other people. Modern search engines can be used to build advanced tools that enhance competitive environment scanning and benchmarking on screening level. Search engines acquire and analyze information from the internet, e.g. from news, company, internet pages, patents, and databases. The methods reduce the time needed for acquiring information, enabling people to concentrate on analyzing the information.

For researchers, the paper provides a literature review of the topic with an innovative construction.

For practitioners, the paper provides an example of framework, methods and tools that can be used to scan the competitive environment.

The theoretical background has been innovatively applied to construct and to deploy very pragmatic tools that enhance scanning the competitive environment.