Asked by Patrick Garland on May 16, 2024
Verified
___ is a technique that makes use of external comparisons to better evaluate one's current performance and identify possible actions for the future.
A) Contingency planning
B) Scenario planning
C) Forecasting
D) Management by objectives
E) Benchmarking
External Comparisons
The process of evaluating oneself, one's abilities, achievements, or conditions in relation to others.
Benchmarking
The practice of evaluating one's company operations and performance indicators against the highest standards in the industry or the optimal practices observed in other firms.
Current Performance
The recent or ongoing level of effectiveness and achievement demonstrated by an individual or organization.
- Grasp the concept of benchmarking for performance evaluation and strategic planning.
Verified Answer
Learning Objectives
- Grasp the concept of benchmarking for performance evaluation and strategic planning.
Related questions
__________ Is a Planning Technique That Makes Use of External ...
___ Is a Planning Technique That Makes Use of External ...
___ Refer to Things Done by People and Organizations That ...
Benchmarking Enhances Organizational Performance by Establishing Standards Against Which Processes,products,and ...
Benchmarking Is the Process of Comparing the Organization's Processes and ...