Examlex
Which of the following statements about outsourcing is true?
I. Outsourcing is the process of finding external suppliers
II. Outsourcing is not very common in today's business world
III. Outsourcing is used for manufactured goods, but not for services
Benchmarking
The practice of comparing business processes and performance metrics to industry bests and best practices from other companies.
Australian Company
A business entity that is registered and operates in Australia, abiding by the country's corporate laws and regulations.
Local Conditions
The specific environmental, economic, and social conditions or circumstances that exist in a particular location or community.
World Best Practice
A benchmarking term referring to the highest current performance standards or methods in an industry or area of activity globally.
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