The amount of knowledge
you have about a potential employer, and on the industry in which you hope to
work can give you a competitive edge. This pertains both to making initial
contact with employers and before going on interviews. In addition, having
information on a company is also invaluable when it comes to evaluating a job
offer. You should know the company's industry, what they do, who some major clients are, and the names of some of the company's higher-ups, i.e. CEO, President, etc. You should also know who is in charge of hiring for the position you are seeking. Here are some resources to find company information.
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