Question:
As the Managing Director of your organization, you have been analyzing other institutions that you regard as competitors. Extrapolating your current position up to the boundary has enabled you to get an overall insight of the sector and also of the possible gains assuming that comparison is indeed administratively possible.
In an attempt to have a true and fair picture you envisage to recruit an independent consultant who will also retain the level of confidentiality required. Given that benchmarking is a very important technique and widely accepted tool for total quality improvement in all sectors, you have been requested by the Chairperson of the Board of Directors to conduct a detailed presentation on all matters pertaining to this technique for the next meeting of board of directors.
In your presentation you are expected to elaborate among others the benefits, pitfalls and conditions necessary with regard to this tool of total quality improvement.