The procedure through which an organization compares its own practices to those of successful competitors is known as:
A)gainsharing.
B)commercial intelligence.
C)benchmarking.
D)profiling.
E)none of the abovE.

Question

Quizplus · Accepted Answer

The procedure described is benchmarking, which is a process of comparing one's own practices to those of successful competitors or other organizations in order to identify best practices and improve performance. Gainsharing involves sharing financial benefits with employees based on performance improvements, commercial intelligence refers to gathering information about competitors and market trends, and profiling involves creating a profile of individuals or groups based on certain characteristics or behaviors. None of these accurately describe the process of comparing practices to successful competitors.

The Procedure Through Which an Organization Compares Its Own Practices