The process of legally and ethically studying how other firms do something in a high quality way and then imitating or improving on their methods is known as industrial espionage.

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Quizplus · Accepted Answer

This process is known as benchmarking, not industrial espionage. Benchmarking involves comparing one's business processes and performance metrics to industry bests or best practices from other companies, while industrial espionage involves illegal or unethical spying to obtain trade secrets.

The Process of Legally and Ethically Studying How Other Firms