Which of the Following Would a Company Employ to Measure

question 37

Multiple Choice

Which of the following would a company employ to measure and compare its business processes to similar processes of other companies within their industry?

• A)Benchmarking
• B)Best practices
• C)Value chain analysis
• D)Strategic systems analysis
• E)Secondary activities

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Definitions:

Concentration Ratio

A measure used to indicate the level of competition within an industry by quantifying the market share held by the largest firms.

Industry Output

The total amount of goods or services produced by all firms within a particular industry.

Five Forces Model

A framework developed by Michael E. Porter to analyze a business's competitive environment in five key areas: competitive rivalry, the threat of new entrants, the threat of substitute products, the bargaining power of suppliers, and the bargaining power of buyers.

Competitive Forces

External factors that influence the competitive position of a firm within an industry, including competition, potential entrants, substitutes, buyers, and suppliers.