Question

The process of identifying other organizations that are best at some facet of your operations and then modeling your organization after them is known as ________. Question 1 options: A) continuous improvement B) copycatting C) reverse engineering D) employee empowerment E) benchmarking

Answer 1

The correct answer is letter "E": benchmarking.

Step-by-step explanation:

Benchmarking refers to a study a company makes of the best performers of its industry in an attempt to identify their strategies so they can be compared to the ones of the firm conducting the research. The comparison aims to spot improvement areas and to adapt the good practices according to the business operations. Benchmarking should be conducted periodically by institutions that attempt to keep up to the pace of leading competitors.