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Which of the following are advantages of benchmarking against potential competitors in other countries?

a. Overseas organizations may be more open to sharing information.
b. Firms may learn of base technologies that everyone is using.
c. Companies might discover buyers for their own outdated technologies.
d. Firms might find key technologies they can easily import.

1 Answer

4 votes

Final answer:

Benchmarking against international competitors allows companies to learn about widely-used base technologies, find important technologies to import, and potentially sell their outdated technology. This process is driven by the advantages of global trade, such as specialization and economies of scale, which incentivize innovation and technological advancement.

Step-by-step explanation:

The advantages of benchmarking against potential competitors in other countries can include learning about base technologies used broadly in the industry, identifying opportunities for the import of key technologies, and possibly discovering new markets or buyers for a company's own outdated technologies. Benchmarking internationally can offer insights due to the competition and variety provided by global trade, which encourages firms to innovate and specialize in the production of goods. Openness to sharing information may not be an inherent advantage of overseas organizations, but through international trade and agreements, companies may gain access to information which wouldn't be available domestically.

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