Benchmarking Quiz

What is benchmarking?

• A process to compare a team's office locations

• A process to compare a team's operations

• A process to compare a team's products

• A process to compare a team's salaries

What is one purpose of benchmarking?

• To increase technology costs

• To discourage financial management

• To encourage data collection

• To decrease customer satisfaction

What is strategic benchmarking?

• Comparing a team's position to that of its competitors

• Analyzing the best practices of successful companies

• Comparing functions within one organization to the same functions within another

• Measuring the performance of one department against another

What is performance benchmarking?

• Comparing a team's position to that of its competitors

• Gathering and evaluating numerical data measuring the team's performance

• Examining the specific processes and operations of high-performing companies

• Considering how two companies in different industries may execute different business activities

What is process benchmarking?

• Gathering and evaluating numerical data measuring the team's performance

• Comparing a team's position to that of its competitors

• Considering how two companies in different industries may execute different business activities

• Examining the specific processes and operations of high-performing companies

What is external benchmarking?

• Considering how two companies in different industries may execute different business activities

• Gathering and evaluating numerical data measuring the team's performance

• Comparing a team's position to that of its competitors

• Examining the specific processes and operations of high-performing companies

What is internal benchmarking?

• Comparing a team's position to that of its competitors

• Gathering and evaluating numerical data measuring the team's performance

• Considering how two companies in different industries may execute different business activities

• Measuring the performance of one department against another

What is generic benchmarking?

• Examining the specific processes and operations of high-performing companies

• Gathering and evaluating numerical data measuring the team's performance

• Comparing a team's position to that of its competitors

• Considering how two companies in different industries may execute different business activities

What is functional benchmarking?

• Gathering and evaluating numerical data measuring the team's performance

• Comparing a team's position to that of its competitors

• Measuring the performance of one department against another

• Comparing functions within one organization to the same functions within another

What is international benchmarking?

• Comparing a team's position to that of its competitors

• Gathering and evaluating numerical data measuring the team's performance

• Looking at the global marketplace to identify and analyze best practices and processes used throughout the world

• Examining the specific processes and operations of high-performing companies