Travis runs a printing business. He gains some knowledge on his competitor's quality of printers and extracts ideas about pricing and delivery standards for his own business. This is an example of _____.
A) delegation
B) suboptimization
C) benchmarking
D) brainstorming

Question

Quizplus · Accepted Answer

Benchmarking is the process of comparing one's own business processes and performance metrics to industry standards or best practices from other businesses. In this scenario, Travis is gathering information about his competitor's quality, pricing, and delivery standards to determine how his own business can improve and compete more effectively.

Travis Runs a Printing Business