When setting standards by benchmarking, the first step is to determine _____.
A) when to benchmark
B) what to benchmark
C) how to benchmark
D) which companies to benchmark

Question

Quizplus · Accepted Answer

The first step in benchmarking is to determine what to benchmark, or in other words, what standards or processes are to be measured against other companies or industry best practices. Once this is determined, then the process of how to benchmark and which companies to compare can be established. But identifying what to compare and measure against is the critical first step.

When Setting Standards by Benchmarking, the First Step Is to Determine