The statement that best explains the situation described in the question is "the 360-degree appraisal is a useful source of development feedback."
This is because if true that a 360-degree appraisal is a useful source of development feedback, it must have been so effective that it makes the employees improve on their work and production, thereby making their company improve more generally in their products and services.
Also, this implies that the 360-degree assessment tool must be considered very effective for 85% of Fortune 500 firms to be utilizing it.
Fortune 500 firms are companies considered the top 500 firms with the higher revenue in the United States after a careful analysis of their revenue generation.
Hence, in this case, it is concluded that using an effective assessment tool help employees and firms to improve more.
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