Benchmarking exercises are most likely to focus on:
A) production activities of the firm.
B) activities of the firm that are reported in financial performance measures.
C) factors which are identified as critical success factors for the firm.
D) items the firm has identified as one of its 'weaknesses' in a SWOT analysis.

Question

Quizplus · Accepted Answer

Benchmarking exercises are primarily focused on identifying critical success factors for the firm and comparing the firm's performance with that of its peers in these areas. The goal is to learn from best practices and improve the firm's performance in these areas. Benchmarking exercises may also focus on production activities or weaknesses identified in a SWOT analysis, but these would not be the primary areas of focus. Financial performance measures may be a component of benchmarking exercises, but they are not the primary focus as they are primarily indicators of past performance rather than areas for improvement.

Benchmarking Exercises Are Most Likely to Focus On