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Management Studies

Discuss the usage of benchmarking in the organisation to listen to the Voice of the Market. Your discussion shall address the following aspects:

(a) Identify any two (2) sources of the Voice of the Market for this organisation.

(b) Select any three (3) types of benchmarking from this given list:

Process benchmarking
Financial benchmarking
Performance benchmarking
Product benchmarking
Functional benchmarking

For each type of benchmarking you have selected, identify one (1) benchmarking measure and discuss how the organisation can apply this benchmarking measure to listen to the Voice of the Market. Each benchmarking measure shall come from one of the following categories:

Financial ratios
Productivity ratios
Customer-related results
Operating results
Quality measures

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