Question

Comparing an organization's performance against the "best practices" of other leading companies is known as:

A. Competition
B. Metrics
C. Benchmarking
D. Analytics

Answer 1

Benchmarking is the process of comparing an organization's performance against the "best practices" of other leading companies in the same industry or sector.

Step-by-step explanation:

Comparing an organization's performance against the "best practices" of other leading companies is known as benchmarking. Benchmarking is the process of comparing an organization's performance against the "best practices" of other leading companies in the same industry or sector.

Benchmarking involves identifying the best-in-class companies in a specific industry or sector and analyzing their processes, strategies, and performance metrics. By doing so, organizations can gain insights into areas for improvement and set targets to achieve or surpass the performance of the industry leaders.