What is not involved in the process of benchmarking a company's value chain activities?

The process of benchmarking a company's value chain activities involves several key components aimed at measuring how well a company performs its activities in comparison to best practices within the same industry or related fields. The correct choice in this context indicates what does not align with the benchmarking process.

Constructing a company value chain and identifying primary and support activities is more about internal analysis rather than comparative benchmarking. This activity mainly focuses on understanding the structure and functions of a company's own value chain to identify areas for improvement, but it does not constitute benchmarking in itself, which emphasizes external comparisons and learning.

In contrast, the other components of benchmarking—such as identifying best practices, understanding how those practices result in improved performance, and making cross-company comparisons—are integral to driving improvements and strategic insights. These elements focus on external standards and competitive advantages, which are essential for effective benchmarking. The goal is to adopt proven practices from other organizations to enhance performance rather than just mapping out one’s internal operations.