The Most Difficult Part of Benchmarking Is

question 23

Multiple Choice

The most difficult part of benchmarking is:

• A) the decision of whether to do it at all.
• B) how to gain access to information regarding rivals' practices and costs.
• C) when to initiate the process.
• D) what information to utilize in the analysis process.
• E) when to stop the process and move forward with strategy.

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Definitions:

Proportional Sample

A sampling method in statistical research where the sample size from each subgroup is proportional to the overall proportions of those subgroups in the total population.

Representative Sample

A segment of a population that accurately represents the attributes of the total population.

Random Sample

A sampling method where each member of a population has an equal chance of being included in the sample, reducing bias and increasing the generalizability of results.

Representative Sample

A part of a population that precisely mirrors the characteristics of the whole population.