ITPEC FE Subject A October 2025 Question 49
ITPEC FE Subject A October 2025 — Question 49 of 60
Benchmarking — identify the correct definition among similar management concepts.
Benchmarking is the practice of comparing a company's products, services, and operations (both qualitatively and quantitatively) against competitors or industry leaders to identify areas for improvement.
Why not others:
- (b) — describes BPR (Business Process Reengineering) — radical redesign of business processes from a customer viewpoint using IT
- (c) — describes ERP (Enterprise Resource Planning) — integrated planning and management of company-wide resources
- (d) — describes Core Competence — concentrating on unique skills and technologies that generate competitive advantage
Key rule: Benchmarking = comparing yourself to the best to find gaps and improve.
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