The procedure through which an organization compares its own practices to those of successful competitors is known as:
A) gainsharing.
B) commercial intelligence.
C) benchmarking.
D) profiling.
E) None of the choices are correct.

Question

Quizplus · Accepted Answer

Benchmarking is the process of comparing an organization's practices to those of the most successful companies in the industry to identify areas for improvement. Gainsharing is a program designed to incentivize employees to improve productivity and cost savings. Commercial intelligence refers to the gathering and analysis of information about competitors and market trends. Profiling involves creating an in-depth analysis of a particular individual or group. Therefore, the best choice for this question is C - benchmarking.

The Procedure Through Which an Organization Compares Its Own Practices