Which of the following are properties of internal benchmarks that businesses use to gauge their productivity and health?
I.They do not provide learning opportunities.
II.The data are likely to be more readily available.
III.They are more challenging because of their specificity.
IV.Unearthing the causes of differences in performance is much easier.
A)I,II,and III only.
B)II and IV only.
C)III and IV only.
D)I,II,III,and IV.

Question

Quizplus · Accepted Answer

Internal benchmarks are those that businesses set for themselves, typically based on their past performance or the performance of other similar businesses in the industry. Internal benchmarks are specific to the company and are more readily available, making it easier to analyze and compare data. They are more challenging because of their specificity but lead to easier identification of the causes of differences in performance as they provide more detailed data to work with. Internal benchmarks also provide learning opportunities as companies can learn from past successes and failures to improve future performance. Therefore, option I is incorrect and option IV is correct. As option III is marked correctly as an accurate description, option B meets the best answer criteria.

Which of the Following Are Properties of Internal Benchmarks That