Benchmarking that involves comparison with firms with similar interests and technologies is termed:
A) competitive benchmarking.
B) industry benchmarking.
C) process benchmarking.
D) external benchmarking.

Question

Quizplus · Accepted Answer

Industry benchmarking involves comparing the performance of one's own firm with that of other firms in the same industry, with similar interests and technologies. This type of benchmarking allows companies to identify areas where they are lagging behind their competitors and to develop strategies to improve their performance. Competitive benchmarking is a more specific type of industry benchmarking that focuses on direct competitors, while process benchmarking and external benchmarking involve comparisons of business processes and performance with those outside of the industry.

Benchmarking That Involves Comparison with Firms with Similar Interests and Technologies