Q338
Best in Class Benchmarking seeks to assess organisational performance against:
A.
The nearest geographical competitor
B.
The competitor who is 'best in class' wherever that may be
AnswerC.
The competitor who is the best in the industry
D.
The nearest principal competitor
Answer: Option B
Solution
Answer: Option B
Solution:
Best in Class Benchmarking seeks to assess organisational performance against the competitor who is 'best in class' wherever that may be. Benchmarking is also a way of measuring your firm's strategies and performance against “best‐in‐class” firms, both inside and outside your own industry.