What are the drawbacks of benchmarking, Financial Management

Assignment Help:

What are the Drawbacks of benchmarking

-  Benchmarking systems and programmes can be costly and time consuming

-  Diversity and complexity of information can 'overload 'management e.g. so much information; management can't see the wood through the trees.

-  Obtaining  information  to  actually  undertake  a  BM  exercise  can  be  a  problem  e.g. historical, absent or out of date.

-  Deciding who the 'best in a class 'is?

-  Keeping staff motivated e.g. staff can be criticised and once they exceed standards the standard is normally raised.

-  Confidential information could be leaked or compromised when shared.

 


Related Discussions:- What are the drawbacks of benchmarking

What do you signify by organisation of finance function, Q. What do you sig...

Q. What do you signify by Organisation of Finance Function? Describe the functions of Financial Manager. Ans. Organisation of Finance Function: - Organization of finance functi

Put provision, An issue with a put provision included in the ag...

An issue with a put provision included in the agreement grants the bondholder the right to sell bonds back to the issuer at a pre-specified rate

What do you mean by wealth maximization, Q. What do you mean by Wealth Maxi...

Q. What do you mean by Wealth Maximization? This is also known as value maximization or net present worth maximization approach, it takes into consideration the time value of m

Explain the risk-return relationship, Explain the risk-return relationship....

Explain the risk-return relationship. The relationship among risk and required rate of return is known as the risk-return relationship.  It is a positive relationship for the r

Cases let, How would you judge the potential profit of Bajaj Electronics on...

How would you judge the potential profit of Bajaj Electronics on the first year of sales to Booth Plastics and give your views to increase the profit.

Working capital turnover, Definition of 'Working Capital Turnover': A ...

Definition of 'Working Capital Turnover': A calculation comparing the depletion of working capital to the generation of sales over a provided period. This provides some useful

OPERATING CYCLE, discuss the applicability of operation cycle in avegetab...

discuss the applicability of operation cycle in avegetable growing business

#title.OPERATING CYCLE, DISCUSS THE APPLICABILITY OF OPERATING CYCLE IN VEG...

DISCUSS THE APPLICABILITY OF OPERATING CYCLE IN VEGETABLE GROWING.

Explain about deferred payment, Q. Explain about Deferred Payment? supp...

Q. Explain about Deferred Payment? suppose a person take a loan of a specified amount at a given rate of the interest. he wants to repay this loan together with the interest in

Determine the limitations of trade receivable day ratio, Determine the Limi...

Determine the Limitations of trade receivable day's ratio Year-end trade receivables may not be representative of the year. Credit sales are VAT exclusive in the Incom

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd