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Benchmarking process

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBL Exams › Benchmarking process

  • This topic has 2 replies, 2 voices, and was last updated 10 years ago by learner93.
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  • February 28, 2015 at 1:54 pm #230773
    learner93
    Member
    • Topics: 16
    • Replies: 51
    • ☆☆

    Sir, i read from bpp textbook that in step 2 of the process is the areas to be benchmarked should be determined and objectives should be set. Note that here the objectives will not be in the form of targets for improvement to specific processes and practices, but more in the nature of stating the extend and depth of the enquiry.

    Can help to explain to me what does extend and depth of enquiry means? What should be the objectives then?

    February 28, 2015 at 4:42 pm #230783
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10594
    • ☆☆☆☆☆

    I don’t really know what they mean, and I don’t think the examiner would be interested either as he does not normally ask about theoretical lists. If I had to guess what they mean it is that benchmarking implies comparison to something, often what a rival organisation achieves. These figures are often difficult to obtain because rivals will not want to share useful information. Therefore, some detective work is needed. So that when Apple or a car company bring out a new model, rivals buy one and carefully take it apart. From that they can estimarte the cost of manufacture – which could be a useful place to start the benchmarking. I think the BPP second step is simply deciding how much time and effort you are goping to go to to determine a benchmark.

    There is a good article here:

    https://www.accaglobal.com/uk/en/student/acca-qual-student-journey/qual-resource/acca-qualification/p3/technical-articles/benchmarking.html

    March 1, 2015 at 6:26 am #230840
    learner93
    Member
    • Topics: 16
    • Replies: 51
    • ☆☆

    Thank you very much sir 🙂

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