Benchmarking is the continuous process of comparing products, services, and activities to the average industry standards.

Question

Quizplus · Accepted Answer

Benchmarking involves comparing one's business processes and performance metrics to industry bests and best practices from other companies, not just to average industry standards. It aims for continuous improvement but focuses on achieving higher standards rather than just meeting the average.

Benchmarking Is the Continuous Process of Comparing Products, Services, and Activities