Final answer:
Best practices are the optimal methods recognized within a given industry to achieve goals or objectives. They are distinct from benchmarks, key performance indicators, and capabilities, which serve different roles in measuring and achieving success.
Step-by-step explanation:
The optimal methods currently recognized within a given industry or discipline to achieve a goal or objective are known as best practices. Best practices are widely accepted, industry-standard approaches that have been proven effective over time. They contrast with benchmarks, which are standards or points of reference against which things may be compared or assessed. Best practices differ from key performance indicators (KPIs), which are a set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their strategic and operational goals. Lastly, capabilities refer to the qualities or features that can be used or developed to approach or achieve a goal but are not in themselves methods or practices.