What Is Benchmarking

question 5

Multiple Choice

What is benchmarking?

• A) the practice of identifying employees with promotion potential
• B) the practice of identifying performance differences with competing firms
• C) the process of identifying the best practices of a firm in a given area and comparing your practices to their practices
• D) the process of establishing performance standards through HRP

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Definitions:

World Bank

A global finance body that supplies loans and grants to the administrations of poorer nations aiming to undertake capital projects.

Collective Output

This term refers to the total production or output produced by a group or collective entity, such as a country or industry.

Foreign Aid

Financial assistance provided by one country to another, typically for development projects, humanitarian aid, or economic stabilization.

Microcredit Programs

Financial services provided to low-income individuals or to those without access to typical banking services.