- 10 Marks
CSEG – Nov 2017 – L2 – Q6a – Strategy evaluation and control
Explain the concept of benchmarking and identify the advantages that companies gain from benchmarking.
Question
In the business world, companies use benchmarking as a point of reference. Benchmarking occurs across all types of companies and industries. Many companies have positions or offices that are in charge of benchmarking.
Required:
i) Explain the term benchmarking. (2 marks)
ii) Explain FOUR advantages companies gain from benchmarking. (8 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Benchmarking, Performance Improvement, Strategic Evaluation
- Level: Level 2
- Topic: Strategy evaluation and control
- Series: NOV 2017
