Benchmarking provides low-cost providers such as Dollar General, Ryanair, T.J.Maxx, and Nucor Steel with
A)hard evidence of cost competitiveness.
B)proof of resource availability.
C)a company strategy.
D)verification of total cost ownership.
E)improvements to internal processes.

Question

Quizplus · Accepted Answer

Benchmarking allows companies to measure and compare their costs and performance against other industry players, providing hard evidence of their cost competitiveness. This helps low-cost providers like Dollar General, Ryanair, T.J.Maxx, and Nucor Steel to evaluate their cost structures and identify opportunities for cost reduction and efficiency improvement.

Benchmarking Provides Low-Cost Providers Such as Dollar General, Ryanair, T