Benchmarking Involves

question 76

Multiple Choice

Benchmarking involves

• A) comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs of these activities.
• B) checking whether a company has achieved more of its financial and strategic objectives over the past five years relative to the other firms it is in direct competition with.
• 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:

Reactant

Molecule that enters a reaction and is changed by participating in it.

Cofactor

A non-protein chemical compound or metallic ion that is required for a protein's biological activity to happen.

Cyclic Metabolic Pathway

A series of biochemical reactions that occur in a sequence, where the end product of one reaction becomes the substrate for the next, often regenerating a key initial reactant.

Regulatory Molecules

Substances, such as hormones or neurotransmitters, that regulate various processes in the body, including growth, metabolism, and cellular function.