Question

A much-used and potent managerial tool for determining whether a company performs particular functions or activities in a manner that represents "the best practice" when both cost and effectiveness are taken into account is:__________
a. competitive strength analysis.b. activity-based costing.c. resource cost mapping.d. SWOT analysis.e. benchmarking.

Answer 1

Answer:

The correct answer is letter "E": benchmarking.

Explanation:

Benchmarking is a continuous process by which products, services or work processes of leading entities are taken to be compared to our company so after the analysis improvements can be made and implemented. Benchmarking is defined as the model of excellence from which the "best practices" can be obtained in favor of our own company.