benchmarks generally involve time series analysis where an organization's ratios are tracked over a period of time, perhaps five years or more, to identify trends; whereas _____________ bench-marking compares the ratios of the organization to either the industry average or the ratios of a specifically identified competitor or group of competitors. _______________ benchmarks generally involve time series analysis where an organization's ratios are tracked over a period of time, perhaps five years or more, to identify trends; whereas _____________ bench-marking compares the ratios of the organization to either the industry average or the ratios of a specifically identified competitor or group of competitors. External; internal Periodic; fundamental Fundamental; periodic Internal; external