Multiple choice

Benchmarking refers to

  1. accepting the industry best practices as a base for assessing own performance

  2. accepting the industry average practices as a base for assessing own performance

  3. accepting the industry lowest performance as a standard

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other companies.

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