Benchmarking - P2 Flashcards
1
Q
What is benchmarking?
A
Continuous process of measuring a firm’s products, services and activities against other best-performing organisation, either internal or external to the firm.
2
Q
What are the different types of benchmarking?
A
Internal
Competitive
Customer
Functional
Strategic
3
Q
What is internal benchmarking?
A
Compare one internal department to another
4
Q
What is competitive benchmarking?
A
Own performance to most successful competitor
5
Q
What is customer benchmarking?
A
Against what customers expect
6
Q
What is functional benchmarking?
A
Comparisons made with similar functions in other organisations that are not direct competitors
7
Q
What is strategic benchmarking?
A
Competitive benchmarking aimed at reaching decisions for strategic action and organisational change
8
Q
A
