Which method requires managers to measure their company's own products, services and activities against best levels of performance?

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08-09-2022
Business

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Which method requires managers to measure their company's own products, services and activities against best levels of performance?

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okpalawalter8 okpalawalter8 · Answer 1 · 2022-09-12T13:14:56+02:00

The benchmarking method requires managers to measure their company's own products, services, and activities against the best levels of performance

This is further explained below.

What is benchmarking?

Generally, To determine where a company may make improvements in performance, benchmarking measures and compares important indicators and practices within business areas or against a competitor, industry peers, or other firms across the globe.

In conclusion, The benchmarking approach encourages managers to evaluate the goods, services, and activities of their own organization in comparison to the most successful levels of performance.