Asked by Madison Zurweller on May 07, 2024
Verified
Benchmarking is the process of comparing the organization's processes and practices with those of other companies.
Benchmarking
A method of comparing business processes and performance metrics to industry bests or best practices from other companies.
- Recognize benchmarking as a tool for organizational improvement.
Verified Answer
MW
Michael WinslowMay 08, 2024
Final Answer :
True
Explanation :
Benchmarking involves evaluating an organization's performance by comparing it with the standards, processes, and practices of other companies, especially those known for their excellence in certain areas, to identify areas for improvement.
Learning Objectives
- Recognize benchmarking as a tool for organizational improvement.
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