Question

Looking outside the organization to examine what industry competitors and excellent performers outside of your industry are doing in a particular process is called: _____________a) Industrial espionage b) Unethical c) External benchmarking d) Hiring an outside expert e) Reverse engineering

Answer 1

Answer:

C) External benchmarking

Explanation:

This is seen to be a form of examining certain areas away from a company sector. Naturally, benchmarking is seen to posses four parts which include internal, external, practice and lastly performance. The discussed type is seen to be carried out after the internal is been done. It is usually done as a form of examination or test in many cases against another or other standards which the same rivals are seen to have in the same market. This test is also seen to produce factful finding in developing and adding value to a firm and whatsoever dealings they are proposed to embark on in a lot of scenarios.