Benchmarking involves
A)comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs of these activities.
B)checking whether a company has achieved more of its financial and strategic objectives over the past five years relative to the other firms it is in direct competition with.
C)studying whether a company's resource strengths are more or less powerful than the resource strengths of rival companies.
D)tracking the profit margin along with the value-creating activities.
E)comparing the best practices in one industry against the best practices in another industry.

Question

Quizplus · Accepted Answer

Benchmarking involves comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs of these activities. This helps a company to identify areas in which it can improve its performance and reduce its costs by adopting best practices from other companies.

Benchmarking Involves