Does exposure to competition with the world leader in a particular industry impr

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Exposure to competition with the world leader in aparticular industry improves a firm's productivity. This is called as BENCHMARKING. In this process, a firm tries to match the performance of the best in class companies and thus improves their productivity.

Benchmarking can be achievend in any of the areas :

Thus,exposure to competition with the best in class companies provide a chance to other companies as well to improve their performance and become better in terms of quality and cost reduction.

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