Question: Question 5 (20 Marks) Benchmarking is an approach that some companies use to compare their operations with those of other companies (preferably the best in

Question 5 (20 Marks)

Benchmarking is an approach that some companies use to compare their operations with those of other companies (preferably the best in the world). It is partly concerned with being able to judge how well an operation is doing. Benchmarking involves selecting a demonstrated standard of products, services, costs or practices that represent the very best performance for processes or activities very similar to your own. Conduct a benchmarking exercise for your organisation or department or unit.

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