The vice president of operations of your company, which makes packaged foods, is thinking about benchmarking manufacturing processes at companies with great reputations for efficiency and quality control. However, he is wondering whether the effort involved will be worth it. Which of the following are potential benefits of benchmarking for your organization? Check all that apply.

A. Benchmarking allows managers to develop the most innovative solutions for problems.

B. Benchmarking provides objective data and targets for improvement

C. Benchmarking shows the solutions others have found for common problems.

D. Benchmarking allows companies to review their internal processes in an unbiased fashion.

The correct answer is letter "C" and "D": Benchmarking shows the solutions others have found for common problems; Benchmarking allows companies to review their internal processes in an unbiased fashion.

Explanation:

Benchmarking is an analysis that companies make of the best performer in their industries. The objective is to compare the techniques and processes to the top entity to find out which practices can be implemented in the firms to improve their efficiency and effectiveness.

For the comparison to be accurate, the firm must make an unbiased study of its current method of operations. Only then, the firm can review which problems it has in common with the top-industry company and how this corporation overcame the issues.