Business Studies, asked by Shaiza1077, 1 year ago

Evaluation of the individual companies performance against the whole industry is

Answers

Answered by writersparadise
0
There are many terms to be used for this type of evaluation. Since the choices have not been given, I am giving a general answer.

The evaluation of the individual company's performance against the whole industry is called as - Bench-marking.

Bench-marking is a kind of business performance evaluation in which the 
performance of a company is compared against a practice standard that has been established by another organisation. It is a continuous calibration process that includes testing and adjusting the business to a certain high standard of achievement. 
Answered by ChetanRA
0
Benchmarking is the most appropriate word here.

Benchmarking is the process of comparing a company's key metrics, such as performance and practices with all others in the industry. It is a way to measure how far-off the company is from industry standard levels and gives a direct comparison with industry bests. It can be applied for the whole company, a specific product or a segment of products.
Benchmarking is an essential operation for large businesses so as to compare their performance and decide on key improvement factors that can better their business prospects.

Thus, the evaluation of an individual company's performance against the whole industry is called benchmarking.
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