Why Would an Organization Use Benchmarking

question 63

Multiple Choice

Why would an organization use benchmarking?

• A)To compete for talent
• B)To compete for market share
• C)To compete on costs
• D)To compete on product differentiation
• E)To compete for consumer loyalty

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Definitions:

Essential Rationality

The assumption that individuals or organizations act based on logical consideration of available information to achieve their goals.

Creativity

Creativity is the ability to produce original and valuable ideas or solutions by thinking beyond established norms.

Vision

A mental image of a possible and desirable future state of the organization.

Framing Error

A mistake that occurs when information is presented or perceived in a way that biases or distorts decision making.