Question

Which of the following statements concerning benchmarking is NOT correct?

A) being humble enough to admit that others have come up with world-class ways to perform particular activities, yet wise enough to try to learn how to match, and even surpass them.
B) adapting the top-notch approaches pioneered by other companies to the company's own operations, thereby boosting the proficiency with which strategy-critical value chain tasks are performed.
C) the process of identifying, studying, and implementing best practices.
D) looking outward to discover best practices and then proceeding to develop the data for measuring how well a company's own performance of an activity stacks up against the best-practice standards.

Answer 1

B) Adapting the top notch approaches pioneered by other companies to the company's own operations, thereby boosting the proficiency with which strategy-critical value chain tasks are performed.

Step-by-step explanation:

All the other definitions except the option 'B' are similar to what bench-marking is and hence that is why I chose option 'B'.

Bench marking is something you make a standard of something and try to reach it or even surpass it. It is basically a level below which the results are unacceptable to any company and hence companies put all their efforts to meet the bench marks they have set while performing their businesses.

Good luck buddy.

Thanks.