asked 106k views
4 votes
The practice of comparing a company with its prior performance or with best practices from other companies is called A. benchmarking B. competitive analysis C. differentiation analysis D. budgeting

asked
User Macros
by
8.7k points

1 Answer

1 vote

Answer:

A. benchmarking

Step-by-step explanation:

In companies; benchmarking is the good practice as it compares the company's business processes and performance metrics to industry. There are four types of benchmarking which are internal, competitive, functional and generic. Benchmarking always facilitate to seek the best practices of your competitor and learn it to implement or take strategic decisions. Based on the data and information which is derived from benchmarking; company can modified its strategies towards the achievement of objective to excel among competitors.

answered
User Ugur Artun
by
7.9k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.