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What is the primary advantage of inter-firm comparison?
  • a)
    It ensures complete secrecy of business operations.
  • b)
    It leads to a reduction in cost consciousness.
  • c)
    It facilitates quality improvement and cost reduction.
  • d)
    It replaces the need for internal audits.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the primary advantage of inter-firm comparison?a)It ensures co...
The primary advantage of inter-firm comparison is that it facilitates quality improvement and cost reduction. By comparing with other firms, a company can identify its strengths, weaknesses, and areas for improvement, leading to increased efficiency and cost savings.
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What is the primary advantage of inter-firm comparison?a)It ensures complete secrecy of business operations.b)It leads to a reduction in cost consciousness.c)It facilitates quality improvement and cost reduction.d)It replaces the need for internal audits.Correct answer is option 'C'. Can you explain this answer?
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