A "best practice":
A) is a method of performing an activity or business process that at least one company has demonstrated works particularly well in terms of delivering some highly positive operating outcome.
B) refers to the best-known procedure for performing a specific task or activity so as to achieve the lowest possible costs.
C) refers to performing activities in a manner that conforms to established industry standards.
D) refers to a company's core competence.
E) refers to performing a particular value chain activity in "world-class" fashion (one unmatched by any other company in the world).

Question

Quizplus · Accepted Answer

A "best practice" is a method of performing an activity or business process that has been shown to work particularly well in achieving positive outcomes. This is based on the experience of at least one company that has successfully implemented the practice. It may not necessarily be the lowest-cost option or conform to established industry standards, but it is a proven approach for delivering positive results.

A "Best Practice