Benchmarking can be defined as the practice of:
A) monitoring activities related to the design, creation, and delivery of a product, its marketing, and its support and after-sales service.
B) developing products that are new to the world or have superior attributes to existing products in the market.
C) measuring the time that it takes for a good to be delivered or a service to be performed.
D) measuring how well a company is doing by comparing it to another company, or to itself, over time.
E) analyzing the financial position of a company and creating the income statements and the balance sheets.

Question

Quizplus · Accepted Answer

Benchmarking is a process of comparing a company's performance to another company or its own previous performance to identify areas where improvements can be made. It involves measuring specific metrics and analyzing the results to identify best practices and areas for improvement. Therefore, the correct option is D - measuring how well a company is doing by comparing it to another company or to itself, over time.

Benchmarking Can Be Defined as the Practice Of