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Use your understanding of how managers set performance targets to complete the following sentence

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Use your understanding of how managers set performance targets to complete the following sentence.

1) The hardest part of the benchmarking approach is ----------------------------

2) The following table shows the steps in the benchmarking process. Identify the usual order of these steps.

Step Steps in the Benchmarking Process

Get information about what each external company is doing and compare it to what your company is doing.

Determine which measures you will use in benchmarking, and collect information about them.

Create plans for improving your company's processes

Find the companies that are best on each measure.

Identify which processes to benchmark.