Question: 1 . Define benchmarking and explain its key features. ( 1 0 marks ) 2 . How can benchmarking be used as a tool to

1. Define benchmarking and explain its key features. (10 marks)
2. How can benchmarking be used as a tool to gain a competitive advantage? (5 marks)
3. Identify and discuss two potential challenges associated with implementing
benchmarking practices within an organization. (5 marks)
4. Briefly explain how benchmarking can be applied to different aspects of a business
beyond just product comparisons. (5 marks)

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