Benchmarking requires the comparison of your firm to other similar organizations in your industry; it is not appropriate to look outside your industry.

Question

Quizplus · Accepted Answer

Benchmarking can involve comparisons to other industries to identify best practices and innovative approaches that could be adapted to improve your own organization. However, it is still important to primarily focus on organizations within your industry to ensure that the comparisons are valid and relevant.

Benchmarking Requires the Comparison of Your Firm to Other Similar