The process of identifying other organizations that are best at some facet of your operations, analyzing your performance versus theirs in order to establish a standard against which to judge performance, and identifying a model for learning how to improve is known as
A)continuous improvement.
B)employee empowerment.
C)benchmarking.
D)copycatting.
E)industrial espionage.

Question

Quizplus · Accepted Answer

Benchmarking involves comparing one's business processes and performance metrics to industry bests or best practices from other companies. This process includes identifying the best firms in the industry, or in another industry where similar processes exist, and comparing the results and processes of those studied (the "targets") to one's own results and processes. It is a way of discovering what is the best performance being achieved, whether in your company, by a competitor, or by an entirely different industry. This comparison process can then be used as a driver for continuous improvement.

The Process of Identifying Other Organizations That Are Best at Some