Which of the Following Statements Is TRUE About Benchmarking

question 27

Multiple Choice

Which of the following statements is TRUE about benchmarking?

• A)It compares a company's current performance against its own previous performance.
• B)It compares a company's performance against that of its competitors.
• C)It provides a standard of comparison for financial measurement.
• D)All of the above statements are true about benchmarking.

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Definitions:

Knowledge Management

The process of creating, sharing, using, and managing the knowledge and information of an organization to enhance its performance and competitiveness.

Decision Making

The process of choosing among alternatives to reach a conclusion or to solve a problem effectively.

Types

Varieties or categories of something, distinguished by some characteristic or quality.

Groups

Collections of individuals who interact and communicate with each other, share common goals, and perceive themselves as a cohesive unit.