The process in which a company's products or services are measured relative to the best possible levels of performance is known as
A)benchmarking.
B)measuring the performance gap.
C)standard measurement.
D)variance measurement.
E)budgeting.

Question

Quizplus · Accepted Answer

Benchmarking is the process of comparing a company's products or services to those of competitors or industry best practices in order to identify opportunities for improvement and to set performance standards. The other options do not accurately describe this process.

The Process in Which a Company's Products or Services Are