The Process of Comparing an Organization's Practices and Technologies to Those

question 67

Multiple Choice

The process of comparing an organization's practices and technologies to those of other companies is known as

• A) Benchmarking.
• B) Scanning.
• C) Innovation.
• D) Feasibility analysis.
• E) Technology.

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Definitions:

Product Innovation

The introduction of new or significantly improved goods or services in terms of their capabilities, components, or uses.

Chemical Engineer

A professional who applies the principles of chemistry, biology, physics, and math to solve problems involving the production or use of chemicals, fuel, drugs, food, and many other products.

Business Ownership

The legal possession and responsibility for a business entity, including sole proprietorships, partnerships, corporations, and limited liability companies.

Industry Weakness

Aspects or characteristics of an industry that represent disadvantages or vulnerabilities, potentially hindering its performance or growth.