Pedro Rodriquez is a vice president with Wal-Mart. Rodriquez is interested in improving the performance of the "pet supplies" departments in all stores. He identified some of the country's best pet stores and in the process of gathering financial data from these stores so that he can understand how to improve performance Wal-Mart. Rodriquez is using a process known as __________.

Question

Quizplus · Accepted Answer

Benchmarking involves comparing one's business processes and performance metrics to industry bests or best practices from other companies. In this case, Rodriquez is gathering financial data from the country's best pet stores to understand how to improve the performance of Wal-Mart's pet supplies departments, which aligns with the definition of benchmarking.

Pedro Rodriquez Is a Vice President with Wal-Mart