Continual process of measuring a company's own products,services or activities against competitors' performance is

Question

Quizplus · Accepted Answer

The continual process of measuring a company's own products, services, or activities against competitors' performance is known as benchmarking. This process involves identifying the best practices and processes of industry leaders and using them to improve one's own performance. Therefore, option B is the most suitable answer. Option A, performance measure, is a general term and does not specifically refer to comparing against competitors. Option C, budgeting, is not relevant to the given context. Option D, responsibility center, is a term used to describe a unit within an organization that is responsible for a specific set of activities, and it is not related to benchmarking.

Continual Process of Measuring a Company's Own Products,services or Activities