Benchmarking measures how well a company and its managers are doing in comparison to other organizations.

Name: Benchmarking measures how well a company and its managers are doing in comparison to other organizations.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Benchmarking is the process of comparing one's own performance metrics to industry best practices or similar companies to identify areas of improvement and opportunities for growth. It helps managers to identify their strengths and weaknesses compared to others in the same field.

Benchmarking Measures How Well a Company and Its Managers Are