The process of measuring a firm's performance against that of the top performers (usually in the same industry)is known as
A)strategic control.
B)competitive benchmarking.
C)"best practices."
D)None of the above.

Question

Quizplus · Accepted Answer

The process of measuring a firm's performance against that of the top performers (usually in the same industry)is known as competitive benchmarking. This helps the firm identify areas where it can improve and adopt best practices to compete with the top performers. Strategic control is the process of monitoring and adjusting strategies to ensure the firm is moving towards its goals. "Best practices" refer to the most effective and efficient ways of doing things in a specific industry or field. None of these fully describe the process of measuring performance against top performers.

The Process of Measuring a Firm's Performance Against That of the Top