This may be simple and direct such as examining the competing product, or indirect such as looking at how a competitor completes routine processes such as hiring or shipping. Such process of learning how other firms do things in an exceptionally high quality manner is…a.circle timeb.outsourcingc.value-added analysisd.benchmarking

The business activities that add high value to business operation and acts a differentiator in a firms' competitiveness while making decision regarding outsourcing is calleda.Necessary Evilsb.Order winnersc.Qualifiersd.Distractors

Organizations monitor the business to see what competitors are offering and what customers are demanding.

A company’s cost competitiveness is largely a function ofMultiple Choicewhether it does a good enough job of benchmarking its value chain activities against the value chains of competitors so that it knows exactly how low to drive its costs to be cost-competitive.how efficiently it manages its internally performed value chain activities and the costs in the value chains of its suppliers and forward channel allies.whether it does a better job of building its resource strengths more cost effectively than rivals.whether it possesses more core competencies and competitive capabilities than rivals.how closely its internally performed activities are linked to the activities performed by suppliers and to the activities performed by forward channel allies.

How can analytics help in identifying opportunities for process improvement and cost reduction?  A. By analyzing competitors' pricing strategies  B. By conducting market research and customer surveys  C. By evaluating financial data and operational metrics  D. By automating sales and marketing campaigns

Which of the following is a process of subcontracting services and operations to other firms that can perform them cheaper or better?Group of answer choicesstatistical quality controlbenchmarkingreducing cycle timesoutsourcing