This term describes an electric shaver company that carefully observes its competitor's production line to look for ways to improve its own manufacturing process.

Question

Quizplus · Accepted Answer

Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other industries. In this case, the electric shaver company is observing its competitor's production line to identify areas where they can improve their own manufacturing process.

This Term Describes an Electric Shaver Company That Carefully Observes