Which of the following terms refers to the process of comparing and analyzing the practices of one firm with those of a high-performing company?
A) benchmarking
B) diversifying
C) outsourcing
D) strategizing

Question

Quizplus · Accepted Answer

Benchmarking refers to comparing and analyzing the practices of high-performing companies to your own for the purpose of understanding what they do that makes them better. Outsourcing refers to having an external company perform tasks once handled internally. Diversification is a type of corporate strategy that implies a firm will expand by adding new product lines. Strategy is a course of action.

Which of the Following Terms Refers to the Process of Comparing