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 benchmarking.
a) resource/capability mapping.
b) value chain analysis.
c) competitive capability analysis.
d) SWOT analysis.

Answer 1

Answer: Benchmarking

Explanation:

Benchmarking is the known as the practice of comparing business organization procedures and performance units to industry and markets best practices from other organization.  It is thoroughly used in order to evaluate performance using indicator such as productivity per unit, cost per unit, or defects per unit, thus resulting in a unit of performance which is further compared with other organization.

Answer 2

Answer:

competitive capability analysis ( C )

Explanation:

competitive capability analysis is a potent managerial tool used in determining how important and profitable the activities that are carried out in a company are considering the best practice and also the cost of the activities in comparison to what is best practiced by its competitors

after identifying the best activities using this powerful tool it is important to place/focus more attention on those activities with higher value to the company and also apply the best practices so as to provide high quality products/service to customers. The SWOT analysis is similar to this but it doesn't consider the cost effect of the business practices in the overall but identifies areas of improvement.