Explain how benchmarking helps a business

Reference no: EM132996286

BSBMGT617 Develop and implement a business plan

Assessment 1 - Written Questions

1 Briefly outline processes you would use for developing business plans. Your response should be in no more than 200 words.

2 Briefly describe the following performance objectives and measures, and provide two examples of each:
• Efficiency measures, including unit cost and productivity
• Input measures
• Outcomes measures

3 Briefly describe Lag and Lead indicators used in the workplace to measure performance against objectives. In your response, you must provide at least one example for each and explain which indicator may be better. Your response
should be in no more than 150 words.

4 Give two examples each of quantitative and qualitative measures of performance.

5 What is a Key Performance Indicator? Give an example of a KPI a restaurant business should monitor.

6 Explain how Benchmarking helps a business. Your response should be in no more than 60 words.

7 How will you implement and test a performance system? Mention 5 points.

8 Identify any 3 external and 3 internal stakeholders you should seek input from when developing a business plan.

9 How can the following stakeholders of your business provide consultation to you in preparing a business plan? You must mention one way each stakeholder can help.

Attachment:- Develop and implement a business plan.rar

Reference no: EM132996286

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