The purpose of benchmarking is to _____.
A) identify alternative future scenarios and make plans to deal with each scenario
B) identify alternative courses of action to take when things go wrong
C) plan how to incorporate the good, profitable ideas of other organizations into one's own operations
D) use expert opinions to predict the future
E) use mathematical models and statistical analyses of historical data and surveys to predict future events

Question

Quizplus · Accepted Answer

Benchmarking is the process of comparing one's own performance, methods, and practices against those of other organizations in the same industry or market. The purpose of benchmarking is to identify the best practices and ideas of other organizations, and to learn from them in order to improve one's own operations. This can include incorporating new technologies or approaches, or simply improving existing business processes to become more efficient and effective.

The Purpose of Benchmarking Is to _____