Competitive benchmarking involves studying,and attempting to emulate,the strategies and practices of organizations already known to generate world-class products and services.

Question

Quizplus · Accepted Answer

Competitive benchmarking involves studying and learning from organizations that are known to excel in their field or industry, with the goal of improving one's own products or services. It is a common practice in business and is used to gain insights into industry best practices, as well as to identify potential areas for improvement.

Competitive Benchmarking Involves Studying,and Attempting to Emulate,the Strategies and Practices