Process of comparing company results with other leading firms is considered as____________?
Correct answer: C. Bench marking
- A. Comparison
- B. Analysis
- C. Bench marking
- D. Return analysis
Explanation
Benchmarking is the systematic comparison of an organisation's performance or processes with leading firms to identify performance gaps and better practices. Simple comparison or analysis lacks this reference to recognised leaders.
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About Principles of Management
Management principles explain how organisations set objectives and coordinate people and resources to achieve them. Coverage includes planning, organising, staffing, directing, coordinating and controlling, along with authority, responsibility, delegation, span of control and the levels of management. These functions are related but not interchangeable, especially planning and controlling.
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