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The relevance of the issue presented in the paper stems from the trends in current economic development. They pose multiple challenges to researchers when it comes to methods for assessing and analyzing competitiveness of business organizations. The aim of this paper is to present an approach to researching business organization's competitiveness based on highly versatile and adaptive competitiveness evaluation technology. Part of the methods on which the said approach is based are analysis, summary, logical approach, and includes quantitative assessment of indicators used to make comparisons with competitors. The results of the implementation of this approach by researches are associated with a more precise diagnosis of the causes leading to one level of business organizations' competitiveness or another. A conclusion can be drawn that the accuracy and effectiveness of any research depends on the preparation of a proper set of methods. When researching business organizations' competitiveness, it is crucial to take account of the extreme dynamics of the developing business environment. [ABSTRACT FROM AUTHOR]