Managers must set benchmarks for the performance indicators that are relevant to their businesses. There are many types of gap analyses - financial, Human Resource, operational, etc. While knowing how to conduct a gap analysis is important, benchmarking and goal setting are also critical analytical tools. Once the benchmarks are set, goals must be established to ensure that the business continues to grow and improve.

As you start preparing for this week's assignments, read the questions below and think about how you would answer each of them:

* How do benchmarks assist in evaluating performance?

* How does one determine which performance indicators/metrics are most appropriate for benchmarking within your Walmart store or business?

* Why is benchmarking against top performers within the company (i.e., other stores) important?

* What data from store reports should be used to draw conclusions about your store's performance?