Question: What does the term benchmarking mean and why is it used? Suppose you work in Woolworths' finance department and have been asked to consider benchmarking.

What does the term benchmarking mean and why is it used? Suppose you work in Woolworths' finance department and have been asked to consider benchmarking. Who would you benchmark against? QUESTION 2 List the four different types of benchmarking and explain their differences. QUESTION 3 Identify six tools that can be used to compare actual results to plan. What are the strengths and

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