ENTREPRENEURIAL OPERATIONS
QUALITY CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a limitation of benchmarking?
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Cheaper than other methods
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Can lead to higher prices
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Needs experts and is costly
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Eliminates work standards
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Explanation:
Detailed explanation-1: -The major disadvantage of internal benchmarking is that the target process may fall short of what is actually the “best practice” in the industry. As mentioned earlier, however, if the subject company is the only one with that particular process, its sole option becomes internal benchmarking.
Detailed explanation-2: -Explanation: Benchmarking is the process of systematically searching for best practices, innovative ideas, and highly effective operating procedures. All these need to be done to survive and grow in this competitive industry. 2. Defining a proper metric for performance comparison is important in benchmarking.
There is 1 question to complete.