Benchmarking is:
A) a program in which the supervisor and the subordinate sit down and map out the objectives for the subordinate to accomplish in the upcoming year.
B) a management program that analyzes the processes of a business and tries to redesign them so that all non-value-added activities are eliminated.
C) an organization that is able to adapt to changing situations and pressures; it places a premium on organizations and individuals that can learn from the environment.
D) a program where a business looks at the world leaders in particular processes and attempts to emulate them.
E) a type of organizational in which people with similar skills are pooled for work assignments.

Question

Quizplus · Accepted Answer

Benchmarking is a process in which a business compares its processes or performance metrics with those of world leaders in particular processes or industries and attempts to emulate them. It is a way to improve the efficiency and effectiveness of a business by learning from successful organizations. Option A refers to goal setting, Option B refers to process improvement, Option C refers to organizational learning, and Option E refers to team structure.

Benchmarking Is