Benchmarking against direct competitors creates the risk of
A)creating products or services with identical specifications.
B)becoming stagnant relative to process improvements.
C)being taken over by the competitors to prevent a loss of ideas.
D)all of the above.

Question

Quizplus · Accepted Answer

Benchmarking against direct competitors can provide valuable insights and ideas for process improvements, but it can also create a risk of becoming too focused on copying their strategies or specifications. To avoid this, it's important to also benchmark against industry leaders, explore innovative approaches, and be open to adapting or enhancing existing processes. Option A is not necessarily a risk, as identical specifications may still have unique features or value propositions. Option C is unlikely and not a typical outcome of benchmarking.

Benchmarking Against Direct Competitors Creates the Risk of