Benchmarking is the practice of comparing a company's performance with the poorer performing companies in the industry to reinforce current best practices.

Question

Quizplus · Accepted Answer

Benchmarking is the practice of comparing a company's performance with the best performing companies in the industry to identify areas for improvement and adopt industry-specific best practices. It is not about reinforcing current best practices based on poorer performing companies.

Benchmarking Is the Practice of Comparing a Company's Performance with the Poorer