Benchmarking Is the Practice of Comparing a Company to a Standard

question 74

True/False

Benchmarking is the practice of comparing a company to a standard set by other companies with similar characteristics.

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Definitions:

Collecting Data

The process of gathering and measuring information on variables of interest in an systematic fashion.

Expensive

Describes an item or service that has a high cost relative to its value or compared to similar items or services.

Netnography

A qualitative research methodology that studies cultures and communities through their online interactions and digital communications.

Online Communities

Virtual spaces where people with shared interests or goals come together to communicate, share information, and build relationships.