MNO2602 ASSIGNMENT 2 SEMESTER 2 2024 Calculate the ratio of prevention to failure costs, based on the information provided below. Which of the following statements are correct? a) The goal of nancial benchmarking is to perform nancial analysis and c

MNO2602 ASSIGNMENT 2 SEMESTER 2 2024 Calculate the ratio of prevention to failure costs, based on the information provided below. Which of the following statements are correct? a) The goal of nancial benchmarking is to perform nancial analysis and compare the results in an effort to assess overall competitiveness. b) In benchmarking, it is important to understand only the target rm’s key business factors. c) Business process benchmarking is based on the concept of 5w2h. It is labelled as such because a business process benchmarking project should result in the answers to seven questions: who, what, when, where, why, how and how much. d) Benchmarking comprises 10 steps. Recalibrating the benchmark is one of the steps, which means that benchmarking is a once-off process in the best rms. e) Operating results are used as a performance measure to benchmark. These may include cycle times, waste reduction measures, value-added measures and lead time. Select one: 1. a) and c) 2. b) 3. b), d) and e) 4. c) and e) 5. a), c) and e)