The process of comparing company results with the other leading firms is considered as ___________?
Correct answer: C. benchmarking
- A. comparison
- B. analysis
- C. benchmarking
- D. return analysis
Explanation
Benchmarking means comparing an organisation's performance or practices with those of leading or best-performing firms. It is more specific than the general terms comparison or analysis.
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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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