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-  Obtaining  information  to  actually  undertake  a  BM  exercise  can  be  a  problem  e.g. historical, absent or out of date.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







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