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All of the following are true regarding benchmarking EXCEPT: that the purpose is to gather information...

All of the following are true regarding benchmarking EXCEPT: that the purpose is to gather information regarding the best practices of others. that buy-in by employees is critical. benchmarking can save time and money by avoiding the mistakes made by others. benchmarking initiatives generally result in quick changes to the work environment.

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Answer #1

Benchmarking will provide the following advantage :-

Helps to implement creative ideas for the development of the company

Benchmarking helps to increase the healthy competition since varuvar companeis in the indutind compete for better performance over the other.

It helps for increased performance of the company since the actual requirements for the companies performance will be identified and implemented for improved performance.

Since it allows for comparison with the best industry standards, it allows the companes for quick implementation of changes.

So answer is that buy in by employees is critical.

All others are corecor with regard to benchmarking.

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