Which of the following statements regarding benchmarking is(are) true?
A) Benchmarking needs to be linked to other sources of information, such as changing customer expectations and preferences.
B) Benchmarking typically looks at the present in terms of how some process or quality dimension is being achieved by others.
C) Benchmarking is often used to help an organization adapt, but less commonly to innovate.
D) All of the above

Question

Quizplus · Accepted Answer

Benchmarking involves comparing one's business processes and performance metrics to industry bests or best practices from other companies. It should indeed be linked to other sources of information like changing customer expectations (A), it typically focuses on current practices to identify areas of improvement (B), and while it is used to adapt to industry standards, it can also inspire innovation by identifying areas where an organization can exceed industry norms (C).

Which of the Following Statements Regarding Benchmarking Is(are) True