What are the drawbacks of benchmarking, Financial Management

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-  Obtaining  information  to  actually  undertake  a  BM  exercise  can  be  a  problem  e.g. historical, absent or out of date.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

 

Posted Date: 9/3/2013 2:18:13 AM | Location : United States







Related Discussions:- What are the drawbacks of benchmarking, Assignment Help, Ask Question on What are the drawbacks of benchmarking, Get Answer, Expert's Help, What are the drawbacks of benchmarking Discussions

Write discussion on What are the drawbacks of benchmarking
Your posts are moderated
Related Questions
What are the different types of cash flow to the bondholder of coupon bonds? Coupon bonds deliver two different kinds of cash flow to the bondholder are as follows: a. Face

Johnson & Johnson (JNJ) is trading at 68.15 (Sep 12th 2012 close). JNJ is a large health care conglomerate. It has done well so far this year (though not as well as the market) and

Accounting : Many people believe financial management only relates to bookkeeping and the establishment of accounting reports which reflect those transactions in the books.  Whi

You plan to borrow $125,000 at a 9.5% annual interest rate. The terms require you to amortize the loan with 10 equal end-of-year payments. How much interest would you be paying i

Blue Sky It refers to laws that safeguard investors from being misled by investment people who misrepresent the significance value of investments to get the money of the finan

1. Your welfare depends on how much time you travel T and how much time you play P and is the product of the two, i.e.,  W = T * P (a) The total amount of time you have is 10 ho

Q. Find Capital allowances and associated tax benefits? It is suitable to use the after-tax cost of borrowing as the discount rate since Doe Ltd is clearly in a tax-paying situ

Question 1: (a) Explain fully the following financial accounting techniques: i. Cash accounting ii. Accrual accounting iii. Fund accounting iv. B

The burden of a tax is shared by producers and consumers.  Under what conditions will consumers pay most of the tax?  Under what conditions will producers pay most of it?  What det

Identify whether the following items belong on the income statement or the balance sheet. a. Interest Expense IS                                      l. Cash BS b. Prefer