A. The nearest geographical competitor
B. The competitor who is ‘best in class’ wherever that may be
C. The competitor who is the best in the industry
D. The nearest principal competitor
✅ The correct answer is option B.
Best in Class Benchmarking seeks to assess organisational performance against the competitor who is ‘best in class’ wherever that may be. Benchmarking is also a way of measuring your firm’s strategies and performance against “best‐in‐class” firms, both inside and outside your own industry.
Best in Class Benchmarking seeks to assess organisational performance against the competitor who is ‘best in class’ wherever that may be. Benchmarking is also a way of measuring your firm’s strategies and performance against “best‐in‐class” firms, both inside and outside your own industry.