Question

9. Benchmarking is

Answer 1

Answer:

d. making comparisons to direct attention to why differences in costs exist across companies.

Explanation:

• A benchmark is a simple comparison or evaluation of the business processes that measure productivity and time and costs.

• Used to measure the performance using specific indicators like cost, productivity and time per unit also referred to as the best practice of increasing the performance of the company.

• It has certain stages like the selection of subjects, definition of the process, identification of potential partners and collection of data.