The Purpose of Benchmarking Is to Find Out What Other

question 14

True/False

The purpose of benchmarking is to find out what other people and organizations are doing very well, and then plan how to incorporate these ideas into one's own operations.

---

Definitions:

Financial Flexibility

The ability of an entity to adapt to unforeseen expenses or investment opportunities without significant stress.

Resources

Assets, both tangible and intangible, that are owned or controlled by a business and can produce value.

Adapt

The act of making adjustments or changes in order to better suit a new environment, situation, or set of conditions.

Liquidity

The ease with which an asset or security can be converted into ready cash without affecting its market price.