Benchmarking can make a firm complacent by making them think that they are fine if they are
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Question:
Benchmarking can make a firm complacent by making them think that they are fine if they are above everyone else.
1) Does this mean within a region, market, industry, or globally? Could you cite an example?
Industry benchmark is the average of all the competitors or one can even consider average of few major players in the industry and come up with a single average value.
2) Explain?
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