CASE STUDY : 1 Read the following case study and answer all the questions given below the case study. MI Toys is an electronic toys manufacturing company. The company sells its products all over Middle East and North Africa. The company builds its brand image by assuring quality of its products, the company also aims to be socially responsible by managing their environmental impact through ISO certification. The company enrolled for ISO certification and all its processes are well governed and follow ISO guidelines. It delivers excellent products to customers. Company B is the competitor of MI Toys and it does not have ISO registration, but it still manufactures products as good as MI Toys. Also, the company MI Toys was facing problems in inventory management. So the company plan to benchmark its inventory management process with a car manufacturing company which had an efficient inventory management process. The proposed benchmarking process displays four phases of benchmarking - planning, data collection, analysis and adaptation. For the effective implementation of benchmarking the following factors are required: The support of top management is a is an essential factor with respect to the accomplishment of benchmarking process. The lack of support and involvement from the top management or even fellow colleagues is often caused due to a lack of benchmarking-understanding. Subsequently, the promotion of benchmarking-knowledge is needed to launch a smooth benchmarking process. High level of employee involvement and teamwork in a benchmarking process is necessary. Benchmarking might be unsuccessful due to lack of managerial planning. Hence, the preparation before the start of a benchmarking project and the evaluation at the end of a benchmarking project is significant.

QUESTION NO:1 Analyse and identify the suitable ISO standards (at least 2 standards) registered by MI Toys with proper justification, explore the benefits (at least 4) of implementing the ISO standards in the MI Toys and how can you prove MI toys company is superior than its competitor.