Benchmarking involves (1) identifying best practice, (2) studying it in detail and then (3) planning to copy the best practice. Which statements are correct?
A) Statements 1 and 3
B) Statements 2 and 3
C) Only statement 1
D) Statements 1 and 2

Question

Quizplus · Accepted Answer

Benchmarking involves identifying best practice (1) and studying it in detail (2) to see how it can be replicated or improved upon in one's own organization (3). Therefore, statements 1 and 2 are correct. Statement 3 is not entirely accurate as benchmarking is not just about copying but about learning and adapting best practices to one's own organization.

Benchmarking Involves (1) Identifying Best Practice, (2) Studying It in Detail