Benchmarking Means Identifying the Best-In-Class Performance by a Company in a Given

question 70

True/False

Benchmarking means identifying the best-in-class performance by a company in a given area and then comparing one's processes to theirs.

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Definitions:

Specialized Knowledge

Expertise or skill in a specific area or field, typically acquired through training or experience, that sets individuals apart in their professional capabilities.

Self-managed Teams

Groups of employees who are given the authority and responsibility to manage themselves and make decisions about their work without direct supervision.

Decision Making

The mental act of choosing an option from a range of possible actions.

Legitimate Power

The power a person receives as a result of his or her position in the formal hierarchy of an organization.