Which one of the following statements about benchmarking is TRUE?
A)Benchmarking is useful only when a company compares itself against other companies.
B)Because of the power of benchmarking,specific plans of action are not necessary.
C)Benchmarking is the same as the plan-do-check-act cycle in continuous improvement.
D)Benchmarking focuses on setting quantitative goals for continuous improvement.

Question

Quizplus · Accepted Answer

Benchmarking focuses on setting quantitative goals for continuous improvement, but it does not necessarily require comparison with other companies. It involves identifying best practices in a particular area and setting goals to achieve those practices or exceed them. Specific plans of action are necessary for effective benchmarking, and it is not the same as the plan-do-check-act cycle, although it can be used in conjunction with that cycle.

Which One of the Following Statements About Benchmarking Is TRUE