Question: B3. a) What is benchmarking and how can it be used to improve the performance of a business? [2] b) There are different types

B3. a) What is benchmarking and how can it be used to

B3. a) What is benchmarking and how can it be used to improve the performance of a business? [2] b) There are different types of benchmarking. Describe two of them using an example and an analogy. [4] c) What type of benchmarking is the EFQM award and what benefits does this type of scheme offer participating companies? [3] d) Explain what are the practical difficulties involved in carrying out a benchmarking exercise. [3] e) Businesses may use more than one improvement methodology as part of their strategy for improvement. Explain how a business might combine Business Process Re-engineering, Management System Standards and Business Excellence through Total Quality Management as part of their improvement strategy. Use a diagram or diagrams to support your answer. [8]

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Benchmarking for Business Improvement a Benchmarking Explained Benchmarking is a systematic process of comparing your business practices against those of similar organizations competitors or industry ... View full answer

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