ITPEC FE Morning October 2023 Question 67
ITPEC FE Morning October 2023 — Question 67 of 80
Benchmarking is the practice of comparing a company's own products, services, and operations against competitors or industry leaders to identify gaps and opportunities for improvement. The defining feature is the comparison with external references.
Why not others:
- (b) Describes BPR (Business Process Reengineering) — radical redesign of business processes using IT, not comparison-based
- (c) Describes ERP (Enterprise Resource Planning) — integrated management of company-wide resources
- (d) Describes Core competence strategy — concentrating on unique strengths superior to competitors
Key rule: Benchmarking = measuring yourself against the best outside your company.
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