26A : Benchmark

Question 1

What is benchmarking

Answer 1

A technique used by businesses to help them discover the best methods et production

Question 2

How do company’s carry out beach marking

Answer 2

STEPS:-

• Identify what the company intends to benchmark e.g. Customer service
• Choose a company (or companies) to set a benchmark against
• Gather information from a variety of sources ;customers, suppliers, internet And analyse it
• Use the information and implement the findings
• Monitor the impact of the implementation and evaluate the degree of success

Question 3

What are the problems with benchmarking

Answer 3

• Competitors are unlikely to share important internation

• Once a company become the best in the field others will start a benchmark againts them