What analytical method represents a functional strategy in management?

Benchmark analysis is a functional strategy in management because it involves comparing an organization’s processes, performance metrics, and practices against those of leading competitors or best-in-class organizations. This method helps identify performance gaps and areas for improvement, enabling a company to develop strategies that enhance its competitive position. By utilizing benchmark analysis, managers can set performance standards based on industry benchmarks, ensuring that their organization remains agile and responsive in a dynamic market.

In contrast, while SWOT analysis provides insight into an organization's strengths, weaknesses, opportunities, and threats, it does not focus specifically on comparing performance against industry peers. Portfolio analysis evaluates a company's product mix and investment opportunities but doesn’t directly address functional strategies within operational processes. Root cause analysis is a problem-solving technique aimed at identifying the underlying issues that lead to a particular problem but does not align with the broader benchmarking approach geared towards strategic functionality.