In assessing and choosing a firm's strategy, a manager will usually find that benchmarking is:
A)Likely to be the most successful strategy.
B)Can be a valuable part of evaluating a firm's capabilities.
C) Unimportant to any well-thought-out strategy.
D) The surest way to dilute strengths and magnify weaknesses.

Question

In assessing and choosing a firm's strategy, a manager will usually find that benchmarking is:
A)​Likely to be the most successful strategy.
B)​Can be a valuable part of evaluating a firm's capabilities.
C) ​Unimportant to any well-thought-out strategy.
D) ​The surest way to dilute strengths and magnify weaknesses.

Quizplus · Accepted Answer

Benchmarking involves comparing a firm's performance and practices against those of other firms in the same industry. This can help a manager evaluate the company's own capabilities and identify areas for improvement. While benchmarking alone may not be the most successful strategy, it can be a valuable tool in developing a well-thought-out strategy. Diluting strengths and magnifying weaknesses would only occur if the benchmarking was not properly analyzed and applied.

In Assessing and Choosing a Firm's Strategy, a Manager Will