NAHQ CPHQ Practice Exam

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What is benchmarking most specifically based on?

best practices
competition
deficiencies
statistical control

The correct answer is: best practices

Benchmarking is a process of comparing and measuring one's practices, processes, and performance against industry leaders or competitors. It focuses on identifying the "best practices" of successful organizations and using them as a standard to improve one's own performance. While competition and identifying deficiencies can be a part of benchmarking, it is primarily based on studying and adopting the best practices of top performers. Statistical control is a method for monitoring and controlling processes and is not the main focus of benchmarking. Therefore, option A is the most appropriate and specific answer for this question.