Which of the following statements reflects the use of benchmarking in a performance evaluation system?
A) A company uses internal controls to prevent theft and wastage.
B) A company initiates innovative production technology.
C) A company compares its performance metrics with other companies in its industry.
D) A company attracts top talent from other companies using stock options and other financial rewards.

Question

Quizplus · Accepted Answer

Benchmarking involves comparing a company's performance metrics with those of other companies in the same industry. Option A describes internal controls aimed at preventing theft and wastage but does not involve benchmarking. Option B refers to innovation and not performance evaluation. Option D involves the use of stock options and other financial rewards to attract talent from other companies, but this does not relate to benchmarking in performance evaluation.

Which of the Following Statements Reflects the Use of Benchmarking