The Purpose of Benchmarking Is to _____

question 139

Multiple Choice

The purpose of benchmarking is to _____.

• A) identify alternative future scenarios and make plans to deal with each scenario
• B) identify alternative courses of action to take when things go wrong
• C) plan how to incorporate the good, profitable ideas of other organizations into one's own operations
• D) use expert opinions to predict the future
• E) use mathematical models and statistical analyses of historical data and surveys to predict future events

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Definitions:

Outcome

The result or consequence of a particular action, decision, or event in a given scenario.

Repeated Games

A strategic situation where individuals or firms face the same opponents in a series of interactions, allowing for the development of strategies over time.

Simultaneous

Occurring, operating, or done at the same time.

Sequential

Describes processes, events, or things that follow one after the other in a specific order or sequence.