Of the following standards, which are developed using data on the performance of the firm's key competitors?
A) Engineering standards.
B) Industry benchmarks.
C) Competitive benchmarks.
D) Historical standards.

Question

Quizplus · Accepted Answer

Competitive benchmarks are developed by analyzing the performance of key competitors in the industry. This allows a firm to set standards based on how well its competitors are doing, aiming to meet or exceed these benchmarks.

Of the Following Standards, Which Are Developed Using Data on the Performance