Question: 1. Imagine yourself in the role of the CEO of a medium-sized auto parts company. Briefly describe how you would set up a benchmarking program. Include in your description an analysis of how you would determine "what" to benchmark and how you would determine "whom" to benchmark against.
2. Consider the following: "Despite its many advantages, benchmarking is not an appropriate technique for all firms. Some firms are so unique that it is impossible for them to find benchmark firms that experience the same challenges they do. As a result, it is impractical for these firms to participate in benchmarking." Do you agree or disagree? Explain your answer.