- 6 Marks
MA – April 2022 – L2 – Q1c – Performance analysis
Explain the different types of benchmarking relevant to the CEO of Gyakie Ltd.
Question
Gyakie currently faces tough competition with the major players in its market. To secure or increase its market position, the CEO has suggested a benchmarking exercise, although he has little knowledge in benchmarking exercises.
Required:
Explain the meaning of the following types of benchmarking to the CEO:
i) Internal benchmarking (2 marks)
ii) Competitive benchmarking (2 marks)
iii) Functional benchmarking (2 marks)
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