Benchmarking:
A)compares the efficiency and effectiveness of your business processes against strict standards.
B)allows industry participants to develop industry-wide standards.
C)is used to measure the speed and responsiveness of information technology.
D)synchronizes the business processes of customers, suppliers, and trading partners.

Question

Quizplus · Accepted Answer

Benchmarking is a process that compares the efficiency and effectiveness of your business processes against strict standards, either internal or external. It helps to identify areas where your organization can improve its performance and make necessary changes.

B, C, and D are not accurate definitions of benchmarking. While industry-wide standards may be developed as a result of benchmarking, it is not the primary purpose. Measuring the speed and responsiveness of information technology is more closely related to performance testing than benchmarking. Synchronizing business processes is a function of supply chain management, which may use benchmarking as one tool among many.