Which of the following comments best describes the appropriate application of benchmarking to a medium-sized Australian company with a range of products and services specifically designed for local conditions and demands?
A) In the absence of a valid basis for comparison, benchmarking is unlikely to be informative in this case.
B) Benchmarking should be based on world best practice for the nearest equivalent organisation.
C) Efforts should be made to compare particular activities and processes with similar processes elsewhere, allowing for differences in the business environment.
D) The use of benchmarking may inhibit originality in meeting the special features and unique needs of the firm's market.

Question

Quizplus · Accepted Answer

Since the company's products and services are specifically designed for local conditions and demands, benchmarking against world best practice would not be appropriate. Instead, the company should focus on comparing particular activities and processes with similar processes in other companies, but taking into account any differences in the business environment. This will help the company identify areas where it can improve and best practices it can adopt while still meeting the unique needs of its market.

Which of the Following Comments Best Describes the Appropriate Application