Question

The process of identifying other organizations that are best at some facet of your operations, analyzing your performance versus theirs in order to establish a standard against which to judge performance, and identifying a model for learning how to improve is known as: a. copycatting. b. continuous improvement. c. industrial espionage. d. employee empowerment. e. benchmarking.

Answer 1

Answer: Benchmarking

Explanation: Benchmarking in business is a form of comparison done to enable excellence in performance.

Benchmarking is done by comparing your organization with another organization doing something similar to what your doing: but they are better at it than you. Analysing their mode of operation and learning from it.