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Explain the Benefits of benchmarking
- Better understanding of business, competition and customers.
- Improves business performance and discourages complacency.
- Good way of comparing competitive strategies to reposition products.
- You can learn from other organisations mistakes.
- Youdo not need to 're-invent the wheel 'for innovation and creativity for example learn from other organisations and a source of new ideas.
- Advance warning for deteriorating competitive performance for instance faster awareness of industry innovation and other competitor decisions.
- Fewer complaints, product returns and warranty claims for example quality improves.
- Leaner and more cost efficient organisation.
- Brand loyalty and Customer satisfaction increases.
- Sales and profitability will improve in long-term.
Assume that you can receive $25,000 per year forever and that your cost of money is 7%. What is this opportunity worth today?
Compare and contrast mutual and stockholder-owned savings and loan associations. A few savings and loan associations are owned by stockholders, just like commercial banks and ot
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