Studying business practices of companies considered "best in class" is called
A) Pairwise comparison
B) Benchmarking
C) Competition
D) Dreamscaping
E) Discouraging

Question

Quizplus · Accepted Answer

Benchmarking is the practice of studying and learning from the best practices of companies considered "best in class" in order to improve one's own business practices. Pairwise comparison is a method of decision-making that involves comparing two options at a time. Competition is a term referring to rivalry between companies. Dreamscaping and discouraging are not relevant terms in this context.

Studying Business Practices of Companies Considered "Best in Class" Is