Benchmarking Involves

question 4

Multiple Choice

Benchmarking involves

• A)comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs and effectiveness of these activities.
• B)checking whether a company has achieved more of its financial and strategic objectives over the past five years relative to its direct competitors.
• C)studying whether a company's resource strengths are more/less powerful than the resource strengths of rival companies.
• D)studying how a company's competitive capabilities stack up against the competitive capabilities of selected companies known to have world-class competitive capabilities.
• E)comparing the best practices in one industry against the best practices in another industry.

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Definitions:

CFO

Stands for Chief Financial Officer, a senior executive responsible for managing the financial actions of a company.

Treasurer

A corporate officer responsible for overseeing the company's financial operations, managing its investments, and ensuring the organization's financial stability and compliance with laws.

Finance Department

A division within a company responsible for managing financial activities, including budgeting, forecasting, and investments.

Finance Department

A division within a company that manages the organization's financial activities, including budgeting, forecasting, investment analysis, and financial reporting.