A "best practice" refers to: a policy or procedure that is unusually effective. a method of performing an activity or business process that consistently delivers superior results compared to other approaches and that at least one company has demonstrated works particularly well in terms of delivering operating excellence. a strategy-critical activity that results in sustainable competitive advantage. a value chain activity that is a company's distinctive competence. a particular value chain activity that management has given top priority to performing in world-class fashion.

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Luciana Vang

Business

3 October, 11:11

A "best practice" refers to: a policy or procedure that is unusually effective. a method of performing an activity or business process that consistently delivers superior results compared to other approaches and that at least one company has demonstrated works particularly well in terms of delivering operating excellence. a strategy-critical activity that results in sustainable competitive advantage. a value chain activity that is a company's distinctive competence. a particular value chain activity that management has given top priority to performing in world-class fashion.

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Alessandra Wu · Answer 1

method of performing an activity or business process that consistently delivers superior results compared to other approaches and that at least one company has demonstrated works particularly well in terms of delivering operating excellence.

Explanation:

Best practice in business is performing the best work possible in order to achieve the company's goals. You have to continuously compare your performance against that of your competition to ensure that your work is among the best in the industry. When your company adopts best practice performance strategies, you become more competitive (e. g. increase sales, reduce costs, improve skills, etc.).