A retailer compares its actual performance against potential performance and then determines the areas in which it must improve.This illustrates ________.
A) gap analysis
B) variance analysis
C) benchmarking
D) strategic planning

Question

Quizplus · Accepted Answer

Gap analysis is the process of comparing actual performance against potential performance, identifying areas for improvement, and establishing plans for addressing those areas. Variance analysis involves comparing actual performance against budgeted or expected performance. Benchmarking involves comparing performance against industry or competitor standards. Strategic planning involves setting long-term goals and developing plans to achieve them.

A Retailer Compares Its Actual Performance Against Potential Performance and Then