Fact-Based Improvement Refers to an Approach That Favors Information Gathering

question 97

True/False

Fact-based improvement refers to an approach that favors information gathering and analysis.

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Definitions:

Process Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other companies.

External Benchmarking

The process of comparing a company's performance or processes against those of other companies, typically industry leaders, outside the organization.

Industry Benchmarking

A process of comparing business processes and performance metrics to industry bests or best practices from other industries to improve performance.

Process Benchmarking

The method of evaluating business operations and performance indicators against the highest industry standards or the most effective practices of other organizations.